Pi Network Price Today May 23, 2025: Pi Coin Drops More Than 40%, Possible Scam

Pi Network Price Today May 23, 2025

Pi price on OKX exchange on May 23, 2025 is fluctuating around the price from 0.8113 USD to 0.8503 USD (equivalent to 21,080 VND to 22,080 VND). Thus, at the time of writing, Pi price on OKX exchange decreased by 3.9% compared to yesterday, reaching 21,230 VND.

A large amount of Pi tokens, estimated at 86 million Pi, was withdrawn from the OKX exchange in less than a day, causing the remaining Pi on the exchange to drop sharply to about 21 million. According to sources from the “Pi Next Gen” account on the X platform, this move is considered a calculated strategy by the community to reduce the circulating supply on the market, thereby creating upward pressure on prices.

Blockchain analytics firm Atlas recently released a controversial report, revealing that Pi Network may be involved in a massive manipulation, with an estimated value of up to $8 billion – arguably the most serious incident in 2025 if verified. According to Atlas, more than 12 million Pi tokens were sold from a wallet suspected to be linked to the Pi Core Team. These transactions coincided with Pi’s sharp price fluctuations:

May 1: Pi price at $0.6135.

May 12: Price spiked to $1.6704.

May 20: Price plummeted to $0.7364, a drop of more than 40% in less than 10 days.

Atlas believes this could be a sign of a “pump and dump” strategy, causing significant losses to retail investors, especially those who bought at high prices.

Confidence in Pi Network is being severely tested, despite the project maintaining a large community of over 60 million users worldwide. Issues highlighted in May include a lack of transparency in the development team’s wallet disclosure, the number of tokens they hold, and their usage strategies. Furthermore, despite the Mainnet launch at the beginning of the year, Pi’s decentralized application (DApp) ecosystem has yet to make significant progress. The user acquisition mechanism relies heavily on a referral model, which is similar to a pyramid scheme, while peer-to-peer (P2P) trading features remain limited.

Predicting the future trend of Pi Network

Previously, the community had high expectations for the Consensus 2025 event, hoping it would be a turning point for Pi Network. However, the speech of founder Nicolas Kokkalis was considered unclear and did not provide a specific roadmap, leading to the Pi price continuing to fluctuate unpredictably.

In the short term, some investors are optimistic that the withdrawal of Pi by “whales” to personal wallets will reduce the supply on the exchange, creating an opportunity to push the price up. If Pi price remains above the threshold of $0.80 in the next few days, some predict that the price may reach $1. However, the risks remain significant, including the development team not responding to Atlas’s allegations, the slow development of the application ecosystem, and the risk of price manipulation due to low liquidity.

Source: https://baoquangnam.vn/gia-pi-network-hom-nay-23-5-2025-pi-coin-giam-hon-40-kha-nang-co-lua-dao-3155355.html