On May 21, 2025, the Pi currency witnessed a significant increase of 11.4% within 24 hours, reaching a price of $0.8268, following the withdrawal of over 86 million PI tokens from the OKX exchange in a matter of hours. This large withdrawal led to a decrease in the available supply in the market, raising expectations of price increases due to growing demand.
However, allegations surfaced that the core Pi Network team had sold up to 50 million PI tokens after the Consensus 2025 conference, sparking controversy within the community regarding transparency and trust in the project.
Despite these concerns, some analysts believe that the reduced supply may lead to a continued upward trend for the PI currency in the coming days.