Pi Network price today, May 23, 2025: Atlas alleges over 12 million PI tokens were dumped.

Pi Network price today, May 23, 2025

The price of Pi on the OKX exchange on May 23, 2025, is fluctuating around $0.8064 to $0.8589 (equivalent to VND 20,940 to VND 22,310). As of the time of writing, the price of Pi on the OKX exchange has increased by 0.9% compared to yesterday, reaching VND 21,320.

The Pi Next Gen community account on the X platform reported that over 86 million PI tokens were withdrawn from the OKX exchange in just a few hours, causing the total PI supply to drop to 21 million. They argued that this was not just a normal withdrawal, but a "power move" by the community to create scarcity and drive up the price.

This large-scale token withdrawal is seen as a sign of accumulation, with investors moving assets to personal wallets instead of selling. Some believe that large holders are holding onto unreleased information and preparing for a sharp price surge.

Although the true reason behind the mass token withdrawal remains unclear, many believe it is a coordinated move aimed at reducing the supply on the exchange, creating a market shock, and stimulating a price surge.

Atlas alleges that over 12 million Pi Network tokens were dumped.

Atlas alleges that over 12 million PI tokens were dumped.

A viral post from cryptocurrency investigative firm Atlas has garnered significant attention for alleging that Pi Network may be an insider scam of up to $8 billion, potentially the largest in 2025.

Atlas, a firm involved in numerous blockchain investigations, released data showing that over 12 million PI tokens were suspected of being sold from a wallet linked to the Pi Network Core Team. They argue that this sell-off coincided with a sharp drop in PI's price, suggesting an insider's "price manipulation and sell-off" strategy.

Specifically, the price of PI surged from $0.6135 on May 1st to $1.6704 on May 12th, before plummeting by 40.27%. As of May 20th, the price was trading around $0.7364, a decrease of 32.3% in just one week.

Pi Network gained attention upon its launch as a mobile cryptocurrency mining platform, attracting over 60 million users globally. When the Mainnet launched in early 2025, the price of PI surged by over 2,700% in just the first week. However, the project has been criticized for its lack of transparency, closed-source code, and absence of working real-world applications.

Atlas also points out several worrying aspects: low number of active wallets, lack of practical utility, reliance on a multi-level referral system, and a complete lack of transparency regarding the movement of large amounts of PI tokens.

Source: https://baonghean.vn/gia-pi-network-hom-nay-23-5-2025-atlas-cao-buoc-hon-12-trieu-token-pi-bi-ban-pha-gia-10298007.html