The Pi Network price remained in a narrow range during the Christmas weekend despite the ongoing accumulation by its biggest whale.
Top Pi Whale Continues Buying
Pi Coin (PI) token was stuck at $0.2040 on Saturday, inside a range it has remained at in the past two weeks. This price is ~30% below the highest point this month, erasing most of the gains it made in November this year.
Data compiled by PiScan shows that the biggest Pi Network whale has continued to accumulate the token. He bought 314,283 coins and moved them from OKX to self-custody on Friday. A day earlier, he moved over 119k tokens from OKX, bringing his weekly purchases to over 5 million tokens, currently worth over $1 million.
READ MORE: Here’s Why Shiba Inu Coin Price Crashed ~70% in 2025
The whale has been on a buying spree since the mainnet launch. He now holds 397 million tokens valued at over $80 million. At his peak, his tokens were worth over $130 million.
The ongoing accumulation during a downtrend is part of a strategy known as dollar cost averaging (DCA). It is an approach where an investor buys an asset in a free fall with the goal of generating more returns when it rebounds.
The whale believes that the Pi Network price has more upside to go in the coming months. One of the key catalysts that may help to boost the performance is the upcoming launch of its token generation, decentralized exchange, and automated market maker features.
The developers are also aiming to eventually receive the MiCA approval in Europe, thanks to the ongoing know-your customer (KYC) process that has verified millions of pioneers in the past few months.
Another potential catalyst for the Pi Coin price will be exchange listings that have remained elusive since the mainnet launch in February this year.
Pi Network price technical analysis
The daily chart shows that the Pi Coin price has crashed in the past few weeks. It has tumbled from a high of $0.2827 in November to the current $0.2040.
A closer look shows that the Pi Network has formed a double-top pattern at $0.2827 and a neckline at $0.2072, its lowest level in November this year.
The token has remained below the Supertrend indicator. It also slipped below the 50-day and 100-day Exponential Moving Averages (EMA).
Therefore, the token will likely continue falling in the coming days, with the potential target being at $0.1530, its all-time low. This target is about 25% below the current level.
READ MORE: Here’s Why the Crypto Market Crashed Suddenly Today
