Pi Network Whale ODM is buying up 315 million Pi coins: revealing similarities with the early "Satoshi Nakamoto Wallet" of Bitcoin.

As the price of Pi Network (PI) remains sluggish, a wallet named "ODM" has quickly accumulated a large amount of Pi coins, sparking a wave of speculation in the community. Currently, this wallet holds over 315 million Pi coins, and the accumulation scenario of this Whale is similar to that of the early "Satoshi Nakamoto Wallet" for Bitcoin (BTC).

Some people believe that the address is related to the Pi Network Core Team (PCT), which has led to a surge in on-chain activity and discussions about potential strategic moves behind the scenes.

Blockchain data shows that ODM recently withdrew millions of Pi coins from the DEX exchange through two large transactions, further increasing their previous holdings. The sudden surge in balance has sparked various speculations, ranging from price stabilization measures to insiders preparing for significant announcements or listings.

Some community members even compare ODM to Bitcoin's early "Satoshi Nakamoto Wallet", believing it to be quietly powerful in its accumulation capabilities.

Others believe that ODM can become a mechanism that supports the growth of the ecosystem—whether through establishing liquidity pools, preparing grants, or absorbing token unlock pressure.

At the moment this speculation arises, Pi Network is in a tense period.

Despite speculation, uncertainty remains as the Pi core team has not confirmed any buyback plans or formal collaboration with the Wallet. However, community interest has surged, and many traders are closely monitoring ODM's movements. Market observers believe that strategic accumulation may precede new exchange announcements or internal capital expansion.

Due to the upcoming unlocking of tokens and weak technical momentum, the PI token continues to face downward pressure. From July 8 to July 15, over 100 million Pi coins were unlocked, leading to an increase in circulating supply. It is expected that 137.85 million tokens will be unlocked by the end of the month, exacerbating short-term supply concerns.

With the anticipation of large-scale token unlocks, concerns about the market impact of the Pi Network team are growing.

The source of the ODM activity has not yet been confirmed, but it may indicate that internal efforts are underway to stabilize the fragile market environment of Pi coin and prevent a price crash after unlocking.

Despite the Pi Network team's silence on the matter, all eyes are now on whether this mysterious Wallet marks a turning point or simply adds a layer of intrigue to the future surrounding Pi coin.

Pi Coin Price Analysis

The Relative Strength Index (RSI) of PI coin has been below 50 for two consecutive months and is currently hovering around 30, indicating that bearish sentiment persists.

Among the 16 trading days in July, 8 trading days closed lower, reflecting persistent selling pressure.

The price of PI coin is trending towards the key support level of 0.40 USD, while the resistance level remains solid at 0.52 USD.

(Source: Trading View)