The event, which unfolded in mid-May 2025, comes amid heightened trading activity and brewing concerns over insider token sales

The event, which unfolded in mid-May 2025, comes amid heightened trading activity and brewing concerns over insider token sales.

Mid-May saw massive movements of Pi Network (PI) tokens, sparking discussion of real-world adoption but also raising concerns over transparency and centralization within the ecosystem.

Pi Network Surprises With 102 Million Token Withdrawals

Blockchain data from Chainalysis reveals that over 102.7 million Pi tokens were withdrawn from cryptocurrency exchange OKX in a three-day period.

The large-scale outflows come amid heightened trading activity and brewing concerns over insider token sales.

One crypto analyst, Mr. Spock, expressed optimism, stating that “doubters watched from the sidelines, but true Pioneers kept mining, building, and believing — and now, the results are beginning to show.”

This optimism, however, 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 sold 1.4 million Pi tokens on cryptocurrency exchange Gate.io after transferring the funds from a previously dormant address. He also flagged several other suspicious transfers involving millions of tokens.

These observations are raising concerns about transparency and potential market manipulation within the Pi Network ecosystem.

The post Massive 70 Million Pi Token Transaction Sparks Speculation as Pi Network Enters New Phase appeared first on Benzinga.

This news follows a recent report by crypto.news, which observed that the Pi Network price has been facing growing resistance in the $0.90 range.

Analysts identify 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,” said Eagle_Eyes_FX in a recent analysis on TradingView.

If that support breaks, traders fear a slide toward April’s low of $0.55.

According to an analysis by crypto analyst Eagle_Eyes_FX on TradingView, the Pi Network price has been encountering resistance in the $0.90 range.

This level is critical for continuing the bullish trend. Technical indicators such as the Relative Strength Index (RSI) are in neutral territory, indicating indecision in the market.

If the buyers can push the price above the $0.90 resistance, it could open the way for a move toward the all-time high of $2.99, which was reached earlier in the year.

However, if the sellers manage to break the support at $0.55, it could lead to a deeper correction.

The Pi Network token price is currently consolidating below the 50-day Simple Moving Average (SMA), which is a bearish technical signal.

The 200-day SMA is also in sight, and a break above it could be a bullish factor.

The lower support level is at $0.55, while the upper resistance level is at $0.90.

The IV (Implied Volatility) is relatively low at 28.38%.

According to crypto.news, the Pi Network price has been forming a bearish flag, 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.

This pessimism comes despite a 30% monthly gain for PI, which is down 72% from its all-time high.

The large token movements and internal transfers are also raising concerns about the decentralization of Pi Network.

According to Dr. Altcoin, one wallet address allegedly controlled by the Pi Foundation is now holding over 90 billion Pi tokens, sparking worries about centralized control over the cryptocurrency’s value.

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

The Pi Network community is facing frustrations due to delays in mainnet Pi migration, limited Pi wallet functionality, and ongoing KYC verification issues, especially in markets like China.

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.”

Can Pi Network Reclaim Momentum?

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