Pi Network Price Soars 8% as 86 Million PI Tokens Suddenly Pulled from OKX – What’s Going On?

Jakarta, Pintu News – On May 21, more than 86 million PI tokens were withdrawn from the OKX exchange in just a matter of hours, sparking speculation among the Pi Network community.

Many took this as a positive (bullish) signal as the circulating supply was reduced. However, controversy arose as there were allegations that the Core Team may have sold up to 50 million PI tokens after the Consensus 2025 event.

Currently, PI prices are up 8.8% in the last 24 hours and are trading at $0.849 – indicating a very optimistic market sentiment.

Pi Network Price Rises 8.8% in 24 Hours

On May 22, 2025, the price of Pi Network (PI) was recorded at $0.849, having risen 8.8% in the last 24 hours. If converted to the current rupiah ($1 = IDR 16,300), then 1 Pi Network is IDR 13,839.

Read also: Pi Coin Shows Bullish Signs? 14 Million Tokens Moved to Wallet!

In the last 24 hours, PI moved within a price range of $0.7805 to $0.8589, showing positive volatility with a strong trend to the upside.

This rise has also impacted PI’s market capitalization which now stands at $6.13 billion, making it one of the fastest growing crypto assets today. Trading volumes in the last 24 hours have also shown high interest from investors, with transactions totaling over $536 million.

86 Million PI Tokens Withdrawn from OKX Exchange

According to PI.Next.Gen, a leading X account discussing the development of the Pi Network, more than 86 million PI tokens have been withdrawn from the OKX exchange in just a few hours.

Data from the blockchain shows that there are now only 21 million tokens left in OKX’s wallet.

This sudden massive withdrawal causes a supply shock, which is often considered a trigger for bullish trends in the crypto market.

Pi Network proponents predict that this could push the market towards a sustained bullish PI rally in the next few days.

Pi Network Price Analysis

At the beginning of May, the price of PI was around $0.6141. During the first few days, the price experienced mild fluctuations and remained within a narrow range between $0.5791 to $0.6141.

However, on May 8, there was a spike of 10.66% that managed to break the upper limit of the range. Thereafter, between May 8 and 13, PI experienced a sharp rise of more than 112.31%.

However, the market then experienced a significant correction between May 14 and 17, which caused the PI price to drop by 43.95%. Optimism returned after a keynote speech at the Consensus 2025 event by Pi Network Founder and CTO, Dr. Nicholas Kokkalis.

Read also: Pi Network Team Opens Job Vacancies Amid Fraud Issues & Plummeting Pi Token Prices

In his presentation, he explained how the integration between AI and blockchain can accelerate global adoption.

Since May 18, the PI token has started to show a recovery with a gain of 19.6%, including a notable surge of 11.4% in just the last 24 hours.

Pi Network Core Team Accused of Selling 50 Million PI Tokens

Allegations emerged that the Pi Network Core Team had sold up to 50 million PI tokens for personal gain after the Consensus 2025 event. These allegations angered some community members and raised questions about transparency in the management of the project.

A well-known supporter of Pi, Dao World, responded to the issue on the X platform by stating that the allegations are baseless and have not been supported by solid data evidence.

It did confirm that between February 27 and March 4, approximately 9.99 million PI tokens were transferred, some of which may have been sold.

However, according to him, the amount is relatively small compared to the total 7.17 billion PIs that have been migrated, and most likely in accordance with the guidelines in the project’s white paper.

Past Token Movements and Their Impact on Price

In the period from February 20-26, 2025, the PI market experienced a sharp surge of 2,721.9%. However, after the token movement on February 27 to March 4, PI experienced its first major correction, with a price drop of 40.93%.

Read also: Dogecoin Soars 3% Today—Is a $6 Breakout on the Horizon?

This pattern of sharp movements continues to fuel speculation regarding the internal management of the token and its influence on market behavior.

Recent developments-the massive withdrawal of PI tokens from OKX, price volatility, and allegations against the leadership-suggest that Pi Network is in a crucial phase.

While the majority of the community remains optimistic (bullish), the demand for greater transparency and clarity in the tokenomic system is growing.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Get a web trading experience with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinpedia. Pi Network Price Soars After 86 Million PI Tokens Pulled from OKX Exchange. Accessed on May 22, 2025