Wyckoff theory points out! Mysterious Whale continuously buying, Pi Network may hit the $1 mark.

Pi Network (PI) reported $0.3597 on September 12, temporarily ending a long period of stagnation. Technical Analysis indicates that the coin may be in the Wyckoff accumulation phase, and the continued large purchases by a mysterious "Whale" could become the catalyst for the next round of pump. If this pattern holds, the price of Pi coin is expected to first break through the psychological barrier of $1, ultimately challenging a technical target nearly 388% higher than the current price.

Mysterious Whale Accumulating Against the Trend

Although Pi Network has fallen over 90% from its historical peak and market sentiment is low, an unidentified Whale is taking the opposite approach:

Buy on September 10: 1.57 million PI

Total holdings: over 373 million PI (approximately 128 million USD)

Buying frequency: almost daily accumulation, continuously increasing since last month.

This whale may be an ordinary long-term supporter, or it may be related to the potential listing plans of Pi coin on exchanges. If the latter is true, the exchange listing news could trigger a short squeeze.

Contrarian Investment in a Bearish Sentiment

The behavior of this investor is in line with Buffett's classic investment principle - "Be greedy when others are fearful."

In recent months, the Pi Network has faced pressure from token unlocking and has yet to be listed on exchanges, which has undermined market confidence. However, for contrarian investors, this is the best opportunity to accumulate at low levels.

Wyckoff Theory: Accumulation Phase May End

(Source: Trading View)

The Wyckoff theory divides asset price fluctuations into four stages: accumulation, markup, distribution, and markdown.

The current trend of Pi coin closely matches the typical accumulation phase:

Features: Low trading volume, sideways consolidation, large holders continuously accumulating

Next step: If it breaks through the key resistance level, it will enter a parabolic rising stage.

Reference case: Recently, MYX Finance suddenly surged after several weeks of consolidation, which is a typical accumulation → pump trend.

Technical Target Price and Potential Pump

If the Pi coin replicates a similar trend, the potential price target is:

1.00 USD: Psychological Barrier

1.6675 USD: Double Bottom Pattern Neckline

Pump space: about 388% higher than the current price.

Conclusion

The current price structure of Pi Network, the Wyckoff accumulation signals, and the continuous buying by mysterious whales have brought obvious upward expectations to the market. If it breaks through the key resistance, the Pi coin may usher in a rapid rally and is expected to become the next "dark horse" case.