TechFlow news, May 24 — According to Coinpedia, over 102 million Pi tokens were withdrawn from the OKX exchange within three days, sparking market concerns that insiders might be cashing out. Blockchain investigator Dr. Altcoin noted that 1.4 million Pi tokens were transferred from a previously unused wallet and subsequently sold on Gate.io.
Multiple large transfers appear linked to wallets associated with the Pi Core Team. Reports suggest these wallets may hold more than 90 billion tokens, raising community concerns about project fairness. Meanwhile, Pi's price is hovering near the $0.85 resistance level, with technical analysts warning that failure to break through could lead to further declines toward $0.66 or even $0.55.
Approximately 1.4 billion additional Pi tokens are expected to enter the market within the next year, with 110 million already circulating in May. A significant influx of tokens into exchanges could further depress prices. Pi is currently trading around $0.77.
