Over 86M PI tokens withdrawn from OKX spark bullish sentiment amid supply shock and 11.4% price surge in 24 hours.

On May 21st, over 86 million PI tokens were withdrawn from the OKX exchange within hours, sparking speculation across the Pi Network community.

Over 86 million PI tokens were pulled from the OKX exchange in a matter of hours on Monday, sparking speculation across the Pi Network community.

As many highlight this as a bullish indicator due to reduced circulating supply, accusations have emerged that the Pi Network Core Team sold up to 50 million PI tokens post-Consensus 2025.

The PI price is up 11.4% in the last 24 hours, now trading at $0.8268.

86 Million PI Tokens Pulled From OKX Exchange

According to PI.Next.Gen, a prominent X account covering Pi Network developments, over 86 million PI tokens were withdrawn from the OKX exchange.

The exchange's hot wallet, which typically holds billions of tokens, now has a balance of 21 million PI.

This massive withdrawal, completed in a few hours, triggers a supply shock, which is often a bullish factor in crypto markets.

As such, supporters anticipate this could push the market into a sustained PI bullish rally in the coming days.

"The price is likely to rise rapidly as the integrators and early adopters continue to withdraw their tokens at an increasing rate," PI.Next.Gen stated.

PI Coin Price Analysis:

Renewed optimism entered the market following the Consensus 2025 keynote by Pi Network's Founder & CTO, Dr. Nicholas Kokkalis, who highlighted how AI and blockchain can drive global adoption.

Since May 18, the PI token has seen a 19.6% rebound, with a notable 11.4% surge in the last 24 hours alone.

The potential for the price to soar even further is high, especially if the bullish momentum continues at this pace throughout the year.

If the bullish sentiment sustains, the PI value could reach as high as $2.1007 this year.

However, if the market shifts bearish, the price could drop to a minimum of $0.0888.

Pi Network Core Team Accused of Dumping 50 Million PI Tokens

Allegations have surfaced that the Core Team sold up to 50 million PI tokens for profit after Consensus 2025. The claims have sparked outrage among some community members, raising questions about transparency.

"The rumors circulating about the Core Team selling 50 million PI tokens post-Consensus are false and an attempt to tarnish the project's image," responded Dao World, a well-known PI supporter.

"There's no factual basis or data to support these claims."

He did confirm that between February 27 and March 4, nearly 9.99 million PI tokens were moved, some of which may have been sold.

But he argued that this amount is minor in comparison to the 7.17 billion PI migrated and is likely aligned with the project's white paper.

"The team is fully transparent in their actions and have the best interest of the community at heart."

Past Token Movements and Price Impact

This pattern of sharp movement has fueled ongoing speculation about internal token management and its effect on market behavior.

Earlier this year, a substantial batch of 9.99 million PI tokens was reportedly sold over a period of seven days, beginning on February 27.

This activity coincided with a notable decrease in the PI price, which experienced a nearly 60% decline in a single month, dropping from $1.5 in March to $0.6 in April.

Final Thoughts

The recent developments—massive PI withdrawals from OKX, price volatility, and leadership accusations—highlight the critical phase Pi Network is currently navigating.

While the community remains largely bullish, calls for greater transparency and clear tokenomics are becoming increasingly vocal.never miss a beat in the crypto world!

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