The Pi Network native token has struggled to shake off its downtrend, even as broader altcoins bounced over the past week. PI coin price continues to hover near recent lows, showing no strong signs of recovery or momentum. However, behind the scenes, the wallet activity tells a different story.
Large volumes of PI tokens are quietly moving across centralized exchanges and private wallets, rekindling speculation of coordinated whale accumulation.
Whales Withdraw Over 53 Million PI as Speculation Grows
A series of high-value PI transactions triggered fresh speculation about whale behavior in the Pi Network ecosystem. Between July 29 and July 30, over 53.4 million PI tokens moved in large chunks, based on public blockchain records.
The biggest single transfer came from an address labeled Pi Foundation 1, which moved 50 million PI in one go. The destination of this transfer remains unidentified, but the scale immediately raised flags among market watchers.
Other large transactions include over 1.29 million PI sent from OKX, nearly 711,000 PI moved out of Bitget, and three separate transactions from Gate.io wallets totaling just over 1 million PI. The addresses involved have not been linked to official developer accounts or known ecosystem entities.
One of the more active receivers was the wallet address GASWBD…J2AODM, which pulled out over 11.5 million PI from OKX across eight separate transactions in just over a week. The withdrawals were methodical—ranging between 195,000 PI and 2.9 million PI per transfer—suggesting structured accumulation rather than a one-off move.
The scale and timing of these outflows come just as the PI price refuses to respond to positive sentiment or network activity. The accumulation trend also surfaces amid renewed community chatter about future unlock events or exchange-side balance reshuffling.
With no official communication from the core team and CEX volumes remaining opaque, the whale actions raise more questions than answers about who is preparing for what behind the scenes.
PI Price Slides Further, But Support Band Still Holding in INR Terms
Pi Network’s PI INR pair slipped below ₹36 on July 30, extending its multi-month downtrend. The latest dip reinforces the token’s rejection near its 50% Fibonacci retracement level, which sits at approximately ₹37.03. Despite intermittent whale activity, bulls have failed to defend key averages, and PI remains under its 20, 50, and 200-day EMAs.
The immediate resistance now stands at ₹37.03. Flipping that level would open the door to the next hurdle near ₹41.83, marked by the 38.2% Fib level. A successful close above that zone could then put the ₹48.06 resistance in play, although current momentum offers little evidence of such a breakout in the near term.
On the downside, PI/INR is hovering near the 61.8% Fibonacci support near ₹32. A clean breakdown from this level could expose the ₹25.3 area next, which corresponds with the 78.6% retracement.
Volume continues to dwindle, with just 27.45 million PI exchanged in the past session. The RSI is trending sideways, currently at 34.65, reflecting persistent bearish pressure without extreme oversold signals.
While whale activity behind the scenes may hint at long-term positioning, price structure on the daily timeframe remains fragile.