The cryptocurrency market has recently been shaken by unusual fluctuations related to Pi Network. In just three days in mid-May 2025, over 102.7 million Pi tokens were withdrawn from the OKX exchange, raising concerns that the development team or internal investors are quietly 'dumping'.
Big Money Causes Controversy
According to a well-known anonymous analyst in the crypto community – Mr. Spock, a series of large transactions occurred in a very short period. Notably, a single transaction transferred up to 70 million Pi tokens from the OKX exchange. This level of activity is unprecedented in the history of the Pi Network project.
Some Pi supporters argue that this reflects development and increasing acceptance of Pi in the cryptocurrency ecosystem. However, many investors are worried about the potential for price manipulation and 'dumping' by those directly involved with the project.
Internal Sell-off Rumors Erode Investor Confidence
Famous blockchain analyst – Dr. Altcoin – has discovered a newly active wallet that first transferred 1.4 million Pi tokens to the Gate.io exchange and was sold shortly after. Notably, this is not an isolated case.
A series of similar transactions have been recorded, most of which are linked to wallets suspected to belong to the Core Team of Pi Network. Some reports even suggest that these wallets may be holding over 90 billion Pi tokens – a number that raises questions among many investors about the fairness and transparency of the project.
Pi Coin Struggles with Resistance – High Selling Pressure
Currently, the price of Pi coin is trading around $0.77, after failing to break through the strong resistance zone at $0.85. Technical analysis warns that if Pi does not soon break this barrier, it is likely that the price will continue to adjust downwards, with nearest support levels at $0.66 and $0.55 – prices that were previously reached in early 2025.
More concerning, in the next 12 months, it is expected that over 1.4 billion Pi tokens will be unlocked and brought into circulation. In May alone, 110 million new tokens have entered the market. The continuous increase in supply while demand is not strong enough will create increasing selling pressure, pushing the price of Pi coin into a prolonged decline.
What Future Awaits Pi Network?
This event once again raises questions within the community about the future of Pi Network – a project once expected to 'bring blockchain to the masses'. Are these fluctuations just signs of maturity, or a warning bell for an internal 'runaway'?
In the context of a market that is becoming increasingly sensitive to negative news, investors should exercise utmost caution, carefully evaluate information, and manage risks reasonably before making any decisions related to Pi coin.