Pi Network in the spotlight as mysterious wallet acquires 2.8M PI from OKX

Key Points

1. A wallet labeled 'ODM' acquired 2.8M PI tokens from OKX, increasing its total holdings to over 315M PI, fueling speculation about its intentions.

2. The acquisition coincides with Pi Coin facing heavy selling pressure, with a 26% decline over the past month and over 100M tokens recently unlocked.

3. Some speculate the wallet may be controlled by the Pi Core Team as part of a buyback strategy or preparation for a major exchange listing.

4. Technical indicators show potential for a rebound, including a double-bottom pattern and bullish divergence on the MACD, despite the current downtrend.

5. Recent developments like Pi AI Studio and Pi2Day staking mechanism highlight long-term value prospects for Pi Network.