Pi Network News: Insider Selling Raises Red Flags as Pi Coin Withdrawal Surge Sparks Volatility

The event, which unfolded in mid-May 2025, comes amid heightened trading activity and brewing concerns over insider token sales. While some view the large-scale withdrawals as a sign of growing real-world adoption, others are sounding the alarm over transparency and centralization within the Pi Network ecosystem.

Currently, the Pi Coin price hovers near $0.79, down over 3% from recent highs and nearly 72% below its all-time peak of $2.99 reached earlier this year. Despite a 30% monthly gain, analysts say the sharp pullback and large token movements hint at underlying instability.

Blockchain data confirms that more than 102 million Pi tokens were moved from OKX, raising eyebrows across the crypto community. These transfers—some as large as 70 million Pi per transaction—are now live and verifiable on-chain. Notably, this level of on-chain activity has never been seen before for Pi Network Coin, prompting speculation that the project could be entering a more mature phase of its lifecycle.

Over 102.7 million Pi tokens were withdrawn from OKX in three days, signaling a significant shift in Pi Network’s on-chain activity. Source: Mr Spock via X

Crypto analyst Mr. Spock remarked, “While doubters watched from the sidelines, true Pioneers kept mining, building, and believing — and now, the results are beginning to show.”

However, this optimism is being tempered by emerging reports of internal token transfers, including those allegedly linked to Pi Core Team-controlled wallets. According to blockchain investigator Dr. Altcoin, one wallet alone sold 1.4 million Pi tokens on Gate.io after transferring the funds from a previously dormant address. He also flagged several other suspicious transfers involving millions of tokens.

The Pi Network price has been facing growing resistance in the $0.90 range, with analysts identifying this level as a critical threshold for bullish continuation. Technical indicators such as the Relative Strength Index (RSI) are hovering in neutral territory, suggesting indecision in the market.

Pi Network Coin must exceed the $0.82-$0.85 resistance zone to invalidate the current bearish momentum. Source: Eagle_Eyes_FX in TradingView

“The PI Coin value is forming a bearish flag,” reported crypto.news in a recent update, “with the risk of a drop toward $0.66 if selling pressure intensifies.” If that support breaks, traders fear a slide toward April’s low of $0.55.

Adding to the market’s uncertainty is the steady increase in token supply. Over 1.47 billion Pi tokens are set to unlock over the next 12 months, with 110 million tokens entering circulation in May alone. These releases—while part of the planned distribution—are raising alarms about their potential impact on Pi Coin market stability.

1.4 million Pi moved from an old Foundation wallet to a new one, then sold on Gate.io—fueling insider concerns. Source: Dr. Altcoin via X

Reports suggest some of these newly unlocked tokens may be entering exchanges via wallet addresses allegedly controlled by the Pi Foundation. Dr. Altcoin estimates that these wallets hold more than 90 billion tokens, further intensifying concerns about centralized control over Pi cryptocurrency value.

“It’s not about FUD,” said Dr. Altcoin on X. “It’s about accountability, transparency, and fair participation in a network that has claimed to be for the people.”

The Pi Network community, once unified around the promise of an inclusive digital currency, now finds itself divided. Frustrations have mounted due to delays in mainnet Pi migration, limited Pi wallet functionality, and ongoing KYC verification issues, especially in markets like China.

Meanwhile, the project’s failure to secure listings on major platforms like Binance has limited liquidity, keeping Pi crypto value subdued even as user adoption reportedly grows. The Pi Network recently launched a $100 million venture fund aimed at supporting dApp development, yet the lack of existing utility on the network leaves many unconvinced.

“There are no substantial DeFi projects or dApps built on Pi crypto yet,” noted a recent market commentary. “Without real use cases, the Pi token price will struggle to sustain any meaningful upside.”

For now, the Pi Coin worth remains closely tied to investor sentiment and the project’s ability to address transparency concerns. The next few weeks will be critical. If the Pi Network Core Team fails to provide clarity on token movements and central wallet activity, it risks losing trust at a pivotal stage of its development.

Pi Network Coin (PI) was trading at around $0.79, down 4.82% in the last 24 hours at press time. Source: Brave New Coin

Still, hope persists among longtime supporters. “We’re entering a new phase,” said one community member. “This is no longer a testnet experiment—Pi Network Coin is stepping into the real world.”

Whether this step forward turns into a leap or a stumble will depend largely on how the network navigates its mainnet challenges, listing hurdles, and internal governance issues. Until then, Pi cryptocurrency value remains caught between promise and pressure.