Pi Coin has experienced a significant price jump, breaking through the $0.227-$0.230 range after days of sideways movement. Charts show increased activity and traders are seeking to understand the catalyst behind this surge. 3 key drivers stand out: whale buy activity, improving technical signals, and developments within the Pi Network ecosystem. 5-million PI tokens were purchased by a large holder on November 15, significantly boosting their holding to over $82 million worth. This move aligns with observed accumulation from bigger wallets in recent days, often foreshadowing increased volatility or upcoming news about the Pi Network. While this whale buy is impactful, it’s important to note that PI still has a vast supply of 8.3 billion tokens circulating, ensuring no single entity can solely dictate the trend. Traders are closely observing whether this activity leads to further buying or a potential sell-off near resistance at $0.25, where previous price struggles have occurred. Technical indicators suggest early signs of strength: Pi managed to break above its 7-day SMA at $0.223 and formed a higher low at $0.217 – positive for recovery. Momentum indicators still show mixed signals with the MACD histogram at 0.00059, while RSI sits around 44, indicating further upside potential. The key takeaway is the support zone at $0.20-$0.22 held, encouraging short-term traders to step in. While volume remains thin at around $27 million, the price action suggests a steady climb followed by sharp intraday spikes – often seen when whales enter positions. The Pi Network’s ecosystem continues to make incremental improvements: on November 16, it upgraded its App Studio for easier code editing and increased application limit from 10 to 100. While these updates might not be major breakthroughs, they contribute to the overall progress of the project. Traders remain encouraged by this quiet growth as it contrasts with a broader market facing challenges. Can Pi Coin sustain its upward momentum? It hinges on whether price stays above $0.225 especially if Bitcoin weakens towards its $94,000 support level. The November 22 banking integration update will likely set the stage for future movements in the cryptocurrency.