The PI price has declined by 3% today, with the altcoin slipping to $0.6327 as the crypto market as a whole also loses 3% in 24 hours.
The past week has been very disappointing for PI, which is now down by 11% in seven days and also by 23% in a fortnight, although it does keep a 10% gain in a month.
Yet the token – which is currently the 35th-biggest in the market by cap – has lost 79% since reaching its record high of $2.99 in February, as interest appears to remain low.
However, some traders are continuing to keep faith in the token, with one whale accumulating millions in PI over the past few weeks, in a sign of potential future rallies.
Pi Price Prediction: Insiders Accumulating Heavily – Binance Listing Incoming?
While PI’s trading volumes have been very low for much of the past month, at least one large holder has been accumulating the token in recent days and weeks.
According to PiScan, the sixth-biggest PI wallet (GASWBDATCXXIUGHR7DWSFAAONZB2L5NFMBTDCYQQ2TQLRQNCTKJ2AODM) withdrew $4.7 million in PI from OKX yesterday, and this comes in addition to several six- or seven-figure withdrawals from the same exchange over the past couple of weeks.
While the PI price has been falling recently, these withdrawals signal confidence that, in the medium- and long-term, it will return to growth.
They may also signal knowledge of some incoming piece of Pi Network-related news, whether this be a launch, upgrade or listing.
And PI holders have been waiting for a listing from Binance (not to mention other major exchanges such as Coinbase and Kraken) for months now, with Binance holding a community vote – which voted ‘yes’ – back in February.
While there is no reliable indication that Binance will be listing the token, such an even would have a massively positive impact on the PI price.
For now, it remains in a weak position, with its chart today showing a continued loss of momentum from its indicators.
Yet it’s arguable that PI is very close to a bottom, given that the coin’s relative strength index (purple) has been below 50 since the middle of May, and remains under 40 as of writing.
Source: TradingViewIn other words, the market is still overselling PI, which should mean that a rebound is coming soon.
It could return to $1 by the end of the month, with more positive news (e.g. an exchange) sending it towards $3 by Q4.
Alternative Altcoins for Beating the Market
Because PI continues to look shaky without any major exchange listings, many traders may prefer to turn to other alts.
The market is always churning out new tokens in which to invest, and some of the most promising include presale tokens, which can sometimes surge when they list on exchanges.
Probably the biggest presale coin of the past year is Solaxy (SOLX), a layer-two network that has raised an astonishing $44.3 million in its sale, which closes in 11 days.
Solaxy has also attracted 78,000 followers to its official X account, a sign of its burgeoning popularity.
What’s exciting about Solaxy is that it’s launching Solana’s first layer-two network, one which will provide users with ultra-low fees and confirmation times.
It promises to make Solana and its ecosystem of apps more efficient to use, with Solaxy also enabling instant bridging between itself and its parent chain.
Also exciting is the fact that it will be rolling out its own token launchpad and DEX soon after going live, with the aim of becoming a key node in Solana’s wider ecosystem.
Investors can still join the SOLX presale by going to the Solaxy website and connecting a compatible wallet, such as Best Wallet.
SOLX is now selling at its final presale price of $0.001746, so buyers should act quickly before the sale ends.
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