Pi Network Price Today May 23, 2025: Atlas Accuses Over 12 Million PI Tokens of Being Dumped

Pi Network Price Today 5/23/2025

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

The Pi Next Gen community account on the X platform said that more than 86 million PI tokens were withdrawn from the OKX exchange in just a few hours, reducing the amount of PI on the exchange to 21 million. They said that this was not just a normal withdrawal, but a "power move" by the community to create scarcity and boost the price.

This large-scale token withdrawal is seen as a sign of accumulation, as investors move assets to personal wallets instead of selling them. Some believe that large holders are holding on to non-public information and preparing for a sharp price increase.

Although the real reason behind the mass token withdrawal is unknown, many opinions believe that this is an organized move to reduce the supply on the exchange, create market shock and stimulate price increase.

Atlas Accuses Over 12 Million Pi Network Tokens of Being Dumping

Atlas Alleges Over 12 Million PI Tokens Were Dumped

A viral post from crypto investigation firm Atlas has gained a lot of attention for alleging that Pi Network could be an insider scam of up to $8 billion, potentially the biggest in 2025.

Atlas, a company that has been involved in numerous blockchain investigations, released data showing that more than 12 million PI tokens were suspected to have been sold from a wallet linked to the Pi Network Core Team. They believe that the sell-off coincided with a sharp drop in the price of PI, as a sign of an insider “pump and dump” strategy.

Specifically, the price of PI skyrocketed from $0.6135 on May 1 to $1.6704 on May 12, then dropped sharply by 40.27%. As of May 20, the price was trading around $0.7364, down 32.3% in just one week.

Pi Network made headlines when it launched as a mobile cryptocurrency mining platform, attracting more than 60 million global users. When the Mainnet was launched in early 2025, the price of PI increased by more than 2,700% in just the first week. However, many criticized the project for its lack of transparency, closed source code, and lack of practical applications.

Atlas also points out many worrying points: low number of active wallets, no practical utility, dependence on multi-level referral system and no transparency about large transfers 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