TL;DR
- Over 86 million PI tokens were pulled from OKX, triggering a supply shock that drove the token’s price up by 12%.
- Allegations emerged of an insider selloff, with claims that up to 50 million tokens were offloaded following the Consensus 2025 keynote.
- PI is currently trading around $0.80 as investors monitor whether this surge signals lasting momentum despite concerns over market transparency.
The PI token has surged by 12% following an unexpected withdrawal of over 86 million tokens from the OKX exchange. This massive exit has triggered a supply shock and intensified debates as fresh allegations of a post-Consensus selloff by the Core Team surface.
Token Withdrawal Sparks Supply Shock
In the span of just a few hours, OKX’s wallet witnessed a staggering retreat of more than 86 million PI tokens, leaving behind a mere 21 million tokens for trading. This sharp reduction in circulating supply sent shockwaves across the market, with traders seizing the opportunity as the scarcity of tokens quickly pushed the price upward.
The incident has not only stimulated bullish sentiment among investors but also underlined how sensitive token prices can be to rapid liquidity changes. Many see this as a classic supply-demand reaction in the volatile crypto landscape.
Allegations of Post-Consensus Selloff
Adding fuel to the fire, whispers within the PI community suggest that following the recent Consensus 2025 keynote, some insiders may have offloaded up to 50 million tokens. While these claims remain unverified, they have stirred concerns over potential market manipulation and transparency issues.
Investors are demanding clearer insights into token management practices from the Core Team, as these kinds of moves could hint at deeper strategic decisions or, worse, signal an exit strategy by those holding significant stakes. Despite the controversy, the market appears to be responding positively to the temporary supply shock, even as the debate over internal practices continues.
PI Price Report
At the time of writing, the PI token continues its upward trend, increasing an extra 9%, and trading at $0.80. The recent price jump comes on the heels of notable fluctuations throughout May, where the token experienced both substantial surges and corrections. The renewed optimism seems to be paying off as market participants rally behind the digital asset.
As the situation unfolds, all eyes remain on the token to see whether the bullish trend will persist amid ongoing scrutiny over token management practices. The coming days promise to be crucial in determining if further regulatory clarity and community transparency can stabilize the token’s long-term prospects.
