The price action of Pi Coin is starting to get interesting. Technically, it’s showing signs of breaking out of a descending wedge, and both the RSI and PPO are also displaying upward signals. This is definitely a development that’s drawing attention as Pi coin news.

What concerns me is that the largest whale wallet has been adding more than $600,000 worth of tokens just this month. The fact that their holdings have exceeded $405 million suggests that this investor is still bullish on Pi. Even though many investors have suffered losses since the mainnet launch, what keeps them buying like this—could they have some kind of outlook?

Activity on the network side is also picking up. They’ve completed the validator migration and surpassed 1 million, and upgrades aligned with the Stellar Consensus Network are also underway. Especially if smart contracts are introduced, it could open the door to DeFi, NFTs, and RWA tokenization. Just like Ethereum—once the environment for developers is in place, the practical value of Pi Coin should change as well.

However, there are challenges too. During the remainder of April, 155 million tokens will be unlocked, and in the next 12 months, more than 1.6 billion tokens are scheduled to be unlocked. An increase in supply typically translates into downward pressure on prices. It also seems to be affected by the fact that a listing on a certain major exchange didn’t turn out to be as big as expected.

Technically speaking, $0.2034 is the next target line. This move is also being closely watched in Pi coin news, and the likelihood of a rebound in the near term seems high.