On May 27, 2025, the 4-hour Pi Network (PI/USDT) chart published on OKX formed a bearish pennant pattern. This pattern usually appears after a sharp drop, followed by a brief consolidation inside converging trendlines, and it often signals another downward continuation.
At the time of analysis, the price trades at $0.7413. If the pattern confirms, the projected move suggests a 47% decline, which would push the price down to around $0.3942.
The chart also shows that the 50-period Exponential Moving Average (EMA), located at $0.7848, continues to act as dynamic resistance. PI/USDT remains below this level, reinforcing bearish momentum. The Relative Strength Index (RSI), which tracks momentum, is currently at 36.91, below the neutral 50 mark, indicating growing selling pressure and possible oversold conditions.
Trading volume stands at 4.1 million, showing mild activity, but not enough to invalidate the consolidation. A clear breakout below the red support trendline with strong volume may confirm the pennant and activate the downside target.
As a result, unless the price reclaims the EMA or invalidates the pattern structure, the bearish pennant formation suggests continued risk toward the $0.3942 zone.
Pi Network Insider Moves Trigger Transparency Concerns as 102 Million Tokens Exit OKX
Over 102 million Pi Network (PI) tokens have left the OKX exchange in just three days, raising alarms across the crypto community. While some investors view the activity as a sign of growth, others warn that it may signal insider selling and loss of trust in the project’s direction.
According to pseudonymous analyst @MrSpock, between mid-May and May 27, 2025, Pi wallets withdrew a total of 102.7 million PI tokens from OKX. One transaction alone moved 70 million tokens in a single transfer.
These movements have sparked debate across Pi’s user base. Some call it progress, arguing that the Pi ecosystem is evolving with real blockchain usage. However, others see the mass withdrawals as potential offloads by insiders.
Despite the withdrawals, Pi coin continues to trade near $0.7783, up 0.40% on the day. Price resilience, however, hasn’t silenced growing doubts.
Suspicious Wallets Suggest Insider Selling
Meanwhile, on-chain investigator Dr. Altcoin revealed detailed evidence showing insider-like activity involving two specific Pi Network wallets. The first address, GASIC7B3HWF2GAI7HWUOZADMY6KW6NDIY4WMB2XYXT3M4AU2J3WVDBN, was created four years ago by the Pi Foundation with an initial balance of 2 million PI tokens. According to Dr. Altcoin, this address is part of a broader group of over 22,000 wallets established by the Pi Core Team (PCT).
A second wallet, GBC65DLWYJOSYRMXEM23LAWA5D7VYDGUXSQB6PDNJ07SJT6GDVLKOULB, was created only 20 days ago with a starting balance of just 1 PI token. Over the past three weeks, approximately 1.4 million PI tokens were transferred from the first wallet to the second. These tokens were later moved onto the Gate.io exchange, suggesting they were sold in batches.
Currently, the original wallet holds about 584,000 PI, while the second wallet has only 327 PI remaining—implying that nearly the entire transferred amount has already been offloaded.
Dr. Altcoin acknowledged that the Pi Core Team has the right to sell tokens, particularly to raise funds for the $100 million Pi Network Ventures initiative. However, he emphasized the need for full transparency. He called for detailed disclosures on liquidity injections, a defined token sale plan, and regular community updates to maintain trust.
At the same time, token supply is expanding. In May alone, over 110 million PI tokens entered circulation. Additionally, 1.4 billion tokens are set to unlock over the next 12 months. This supply influx could intensify selling pressure if large holders or early stakeholders move more tokens ontoexchanges.
