đ˘Pi Network Faces Growing Concerns Amid Insider Token Sales and Price Volatility
Pi Network is drawing serious attention from the crypto community after reports revealed a spike in insider token sales and a massive withdrawal of Pi tokens from exchanges. Between May 13 and May 15, more than 102 million Pi tokens were pulled from OKX, raising concerns about centralized control and lack of transparency.
At the same time, Piâs price has struggled to stay above key levels. Analysts point to resistance around $0.90 and warn that unless it breaks through the $0.82â$0.85 range soon, the token could fall back to $0.66 or even revisit Aprilâs low of $0.55.
Fueling the anxiety further, over 1.47 billion Pi tokens are expected to be unlocked over the next yearâ110 million of them just in May. Some of these unlocked tokens reportedly landed on exchanges like Gate.io, allegedly from wallets connected to the Pi Foundation. These moves have triggered red flags about potential market manipulation.
While some Pi supporters believe the network is maturing, many investors are growing wary. The lack of clear, official communication from the Pi Network team is adding to the uncertainty.
As the project navigates this critical phase, its ability to build trust and prove that it truly embraces decentralization will be key to its long-term survival and success.