Whales Move Ahead of First Anniversary… Is a Turning Point Coming for Pi Network?

▲ Pi (PI)/ChatGPT-generated image ©

Whale accumulation has resumed, igniting a rebound in Pi Network (PI) ahead of the first anniversary of its Open Network launch.

According to investment media outlet FXStreet on February 17 (local time), PI was trading above $0.1800 during the session, marking a gain of about 5%. On-chain data platform PiScan showed that large wallet investors net purchased approximately 4 million PI over the past 24 hours. In particular, two large withdrawal transactions of 1.99 million PI each were recorded, confirming an expansion in whale demand.

This movement comes ahead of the first anniversary of the Open Network launch scheduled for February 20. The surge in large wallet activity is interpreted as reflecting heightened expectations surrounding the event. In fact, PI has rebounded about 20% since last Thursday, rising from the S1 pivot point at $0.1327.

Technically, the 50-day Exponential Moving Average (EMA) has emerged as a key turning point. The 50-day EMA is currently positioned at $0.1767, acting as short-term resistance. The outlet analyzed that if PI clearly breaks above and closes above this level on a daily basis, further gains toward $0.1919—aligned with the October 11 low—could open up.

Momentum indicators are also favorable. The Relative Strength Index (RSI) has climbed to 60, remaining above the neutral line and leaving room for further upside. The Moving Average Convergence Divergence (MACD) indicator is gradually approaching the zero line, and the expanding positive histogram suggests strengthening bullish momentum.

However, if the price falls back below $0.1767, upward momentum could weaken. In that case, a retest of the October 10 low at $0.1533 cannot be ruled out. Whether PI can break above the 50-day EMA is emerging as a key variable determining short-term direction.

Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses resulting from it. The content should be interpreted for informational purposes only.