Pi Token may sharply rise amid mass purchases by crypto whales.

The Pi Network Token shows signs of reaching a bottom, which signals a potential rebound. Its price has fallen nearly 90% compared to its all-time high, however, large investors have begun actively buying the digital asset.

According to PiScan, one of the "whales" first bought 1.573 million coins, and then another 441,549 for $156,043. Now he holds 373.78 million Pi, which are currently valued at almost $132 million. Interestingly, if the Token reaches its historical maximum again, these assets will be worth over $1.12 billion.

The technical analysis of the 12-hour Pi chart also indicates a potential rebound. The coin has formed a "double bottom" pattern at the level of $0.3321, which was the lowest on August 1 and August 26. The upper boundary of the pattern is at the level of $0.4652, the highest on August 10. The "double bottom" pattern often leads to a strong bullish rebound.

The Relative Strength Index forms a pattern of "bullish divergence". It occurs when the asset is gradually rising while the price is consolidating or falling. It has now risen above the neutral mark of 50.

Thus, the Pi token is likely to recover and may reach a key resistance point at the neck line at $0.4652, which is approximately 32% above the current level.