Why a $148M Pi Coin Whale Might Know Something You Don’t | nSource:
Veronica Cestari
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Key Takeaways
A single whale wallet has accumulated $148 million in Pi Coin, becoming the sixth-largest holder since April 2025.
The wallet consistently withdrew tokens from OKX, Gate.io, and MEXC, tightening Pi’s supply while the price dropped 70% from its May high.
Market sentiment is polarized but leaning optimistic, with on-chain data and positive Weighted Sentiment suggesting a potential rebound.
The whale’s identity remains unconfirmed, fueling speculation about a Pi Core Team buyback, an exchange listing, or a strategic long-term investor.
A crypto wallet holding $331 million Pi Coin, equivalent to $148 million, has sparked attention across the crypto industry.
Over the past three months, this whale has quietly built a massive position. The sudden accumulation is raising questions. Is this an insider move, a signal of upcoming news, or a calculated long-term bet?
The wallet "ODM" is now accumulating $PI at an unprecedented rate. In the past 24 hours, this wallet has received 1.56 million $PI from OKX. This wallet is likely a buyback wallet. Suspected to be owned by the PCT team.#PiNetworkpic.twitter.com/lMhikVlp6t
Pi Coin has struggled in recent weeks. Its price dropped 10%, trading around $0.42. While most traders pulled back, this whale moved in hard.
The timing is what stands out. In a market where most tokens follow trends, this wallet swam against the current.
Speculation is growing. Some say it could be the Pi Core Team loading up before a big announcement. Others point to a centralized exchange (CEX) preparing for a major listing. There’s also a chance this is a high-net-worth investor with a strong belief in Pi’s future. With no confirmed identity, the mystery is fueling theories and buzz.
My Answer: A huge investment in a project like Pi demands trust — and trust in any business comes from a deep understanding of the project you… pic.twitter.com/A8fRjdqyBY
This article explores the motives behind the whale’s activity, what it could signal about Pi’s next moves, and why the crypto world is watching closely.
$148M Pi Whale Accumulation Activity Explained
Big players often shape crypto markets, and this whale is doing just that. Since April 2025, the wallet has steadily bought Pi Coin, making it the sixth-largest Pi holder.
Top Pi Wallets | Source: PiScan
It has surpassed several exchange wallets, pulling tokens from OKX, Gate.io, and MEXC.
This aggressive buying shows strong confidence in Pi’s future, even as the price continues to dip. If it continues, it could tighten Pi’s supply and help fuel future price gains.
Who Owns Pi’s Massive ODM Wallet?
Massive wallets always spark questions, and this one has the Pi community watching closely. Several theories try to explain who might be behind it:
Pi Core Team (PCT) theory: Some believe this is a buyback wallet used to manage price swings and stabilize supply. July 2025 figures showed that exchange balances surged to over 370 million Pi. This theory fits the timing.
Exchange listing theory: The wallet label “ODM” points to a platform possibly preparing for a major listing. Since Pi’s open mainnet launch on February 20, 2025, the token has appeared on some exchanges like OKX and Bitget. However, major exchanges such as Binance, Coinbase, and Kraken have not listed Pi, yet. A bigger listing could raise demand.
Other possibilities: Another view sees this as a strategic entity quietly building a strong Pi position. The scale of the wallet hints at serious backing and a long-term vision.
While none of the theories has been confirmed, the steady growth has stirred the community, especially the pioneers.
Pi Diverges From Altcoin Rally, Whale Keeps Accumulating – What’s Behind the Move?
The whale’s identity remains uncertain, but market data paints a clearer picture. The Pi price has gone down since March 2025, yet the whale continues to accumulate.
Pi’s performance | Source: CoinMarketCap
Pi Coin’s price has struggled, falling to $0.4198 by July 31, 2025, with a trading range of $0.4061–$0.4340. Technical indicators show bearish pressure.
Pi trades below its key moving averages, with the Relative Strength Index (RSI) at 41, nearing oversold territory.
A bearish MACD (which stands for moving average convergence divergence, a technical indicator) crossover confirms sellers hold control.
Support sits at $0.40, with resistance at $0.53 and $0.60. A daily close below $0.40 could trigger a sharp drop, as no clear support exists below. Despite a general decline since its May peak, the whale’s aggressive buying suggests confidence in a rebound.
As a result, CCN analyst Valdrin Tahiri points out that Pi’s price movement has diverged sharply from the broader altcoin market.
Tahiri explains that this is visible when charting the PI (black) price alongside that of the altcoin market (red), and the divergence is shown to have started on June 25.
Since the start of May, the altcoin market cap has increased by 46%, while PI has fallen sharply.
The discrepancy is even more jarring when considering that the PI price surged by 150% in May, seemingly leading the altcoin market.
Since then, it has been the exact opposite, with the two having a negative correlation, and the PI price down 70% since its May high.
The PI price analysis is no longer optimistic. The price faces diagonal and horizontal resistance and is very close to a new all-time low.
Since no support lies below the current price, a decisive daily close below $0.40 can trigger a sharp and substantial drop.
This scenario has a direct impact on the Pi community, and events like the whale movements can affect sentiment, as the next section explains.
Pi Whale Pulls $600K Off Exchange as Bullish Sentiment Returns – Breakout Ahead?
To understand general market psychology and sentiment, it is essential to examine both elements: The shift in price tells part of the story; whale behavior tells the rest.
The whale mystery wallet withdrew 1.4 million PI tokens worth over $600,000 from OKX in late July 2025.
🚨 Massive Pi Coin Withdrawal Today: Over 1.4 Million Pi Pulled from OKX in Single Transaction!
July 23, 2025 — Major movement just shook the Pi Network ecosystem. A jaw-dropping 1,498,751.6 Pi Coins, valued at approximately $676,986.10, was withdrawn from the global exchange… pic.twitter.com/CtvStYsujc
According to Victor Olanrewaju from CCN, the move adds to a growing trend of consistent accumulation and signals a clear intent: the holder isn’t planning to sell.
When whales pull coins off exchanges, it typically means they’re bracing for upside. With fewer tokens available for trading, persistent withdrawals could tighten supply.
Sustained whale accumulation could trigger copycat moves from retail, compounding the bullish momentum and helping PI exit price discovery mode.
The setup for a breakout may already be forming. Santiment data shows PI’s Weighted Sentiment has flipped positive, indicating social chatter is skewing bullish once again.
PI Weighted sentiment | Credit: Santiment
As optimism creeps back into the conversation, market psychology could amplify the impact of ongoing whale activity
Therefore, if sentiment remains bullish and spot market demand returns, PI, already down 25% over the past 90 days, may be ready for a notable upside breakout.
As price signals and sentiment shift, the community response becomes just as important.
Pi Community Sentiment Turns Cautiously Optimistic Amid Whale Rumors
The Pi community’s energy is rising, but it’s walking a fine line between progress and speculation.
Milestones like the launch of Pi App Studio and the migration of million users to the mainnet have lifted morale and reflected growth.
But on X, the conversation risks drifting into misinformation, with unverified claims about whale wallets and upcoming exchange listings clouding the message.
To keep that momentum focused, the community must stick to the basics, complete know your customer (KYC), support real development, and back the growing ecosystem of thousands of AI-powered decentralized applications (dApps).
According to Grok’s results on market sentiment toward Pi Coin, sentiment remains polarized, with a slight lean toward optimism.
Grok’s answer about the Pi Network sentiment. | Source: Grok
Community confidence is supported by progress in the ecosystem and recent mainnet milestones.
However, concerns persist over potential oversupply and centralization, with speculative wallet activity adding to the uncertainty.
While the community continues to show resilience, clearer communication from the Pi Core Team could help ease doubts and reinforce trust.
Consistent, transparent updates would help reduce uncertainty, reinforce confidence, and keep the community grounded in what matters.
Conclusion
The $148 million Pi whale has shaken the market and split the community. With no confirmed identity, the wallet’s rapid accumulation stands out against bearish price trends and weak technical indicators. It outpaced exchange wallets and triggered speculation around Pi Core Team buybacks or a potential listing.
Despite price pressure and a 70% drop from its May high, the whale continues to pull tokens off exchanges. On-chain data and sentiment tools show that market psychology is shifting. Weighted Sentiment has turned positive, and Pi’s supply is tightening. Traders are watching for a breakout.
Whether this is a well-timed bet or something more coordinated remains unclear. But the wallet’s activity, paired with growing optimism, ecosystem growth, and a committed community, has positioned Pi Coin at a critical point. What happens next could define its place in the market.
Pi Coin runs on its own native blockchain, separate from Ethereum or Solana.
When did Pi Network launch its open mainnet?
Pi Network launched its open mainnet on February 20, 2025.
Is Pi Coin officially listed on major exchanges like Binance or Coinbase?
No. As of July 2025 Pi is not listed on Binance or Coinbase.
What’s the role of KYC in the Pi ecosystem?
KYC verifies real users and allows them to unlock and use mined tokens on the mainnet.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Dr. Lorena Nessi is an award-winning journalist and media technology expert with 15 years of experience in digital culture and communication. Based in Oxfordshire, UK, she combines academic insight with hands-on media practice.
She holds a PhD in Communication, Sociology, and Digital Cultures, and an MA in Globalization, Identity, and Technology.
Lorena has taught at Fairleigh Dickinson University, Nottingham Trent University, and the University of Oxford. She is a former producer for the BBC in London, with additional experience creating television content in Mexico and Japan.
Her research focuses on digital cultures, social media, technology, capitalism, and the societal impact of blockchain innovation.
She has written extensively on digital media and emerging technologies, with her work featured in both academic and media platforms. Her Web3 expertise explores how blockchain technologies shape culture, economics, and decentralized systems.
Outside of work, Lorena enjoys reading science fiction, playing strategic board games, traveling, and chasing adventures that get her heart racing. A perfect day ends with a relaxing spa and a good family meal.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
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