Over 6 million PI tokens quietly drained from exchanges and funneled into several wallets. While that activity could indicate internal buybacks or planned token management, it came with no official comment from the project’s core team.
Pi Network Fans Rely On Rumors For Hope
On July 15, over 6.4 million PI tokens exited major exchanges, including 2.89 million from OKX and another 1.65 million from Bitget.
One of the receiving wallets—tagged ODM—accumulated over 1.56 million PI in a single transaction, triggering fresh speculation about an internal buyback by the Pi Core Team. The movement came without official disclosure, but Pi-linked accounts quickly framed it as a bullish pivot.
Fan pages began celebrating the token’s supposed rise, claiming Pi would soon be listed on Binance and even outperform SUI and TON by year-end. One user alleged whales had scooped up $14 million worth of PI, citing a potential supply crunch and forecasting a breakout. None of it was confirmed. Most of it was amplified.
What the Core Team did confirm, instead, was the release of Node version 0.5.2 on June 12—a renaming of the Pi Node app to “Pi Desktop,” along with vague references to “future integrations” and access to App Studio. A follow-up patch (v0.5.3) was also issued to fix bugs. Neither announcement addressed the growing onchain anomalies nor the project’s liquidity maneuvers.
The dissonance is widening. Pi’s leadership continues to deliver incremental UI updates, while the token’s most significant movements happen off-record and without explanation. At the same time, the community—siloed mainly from real-time data—feeds on speculation and recycled listing rumors.
Buybacks may be real. But the belief system wrapped around them looks increasingly untethered from reality.
Fantasy Price Targets Meet a Brutal Chart
Despite months of near-uninterrupted losses, a vocal section of the Pi Network community continues to peddle lofty price projections with religious conviction.
The Pi Network token has been in an almost permanent downtrend since its launch in February earlier this year. At writing, the PI USD pair was changing hands at $0.44, down 85% from its $3 ATH and more than 30% in the last three months. Moreover, recent candles have flattened into illiquid drifts, with volume collapsing below 1.03 million and buyers largely absent.
Given how the token has performed, PI fans’ hoium delusions stand out as more worrying than funny.
Public posts from Pi fan accounts claim the token will reach $314,159 or break out past $8.00. Others cite vague technical levels like $1.67 or $3.00 as “inevitable” resistance flips, regardless of the project’s price trending near $0.45 with no confirmed listings or major market catalysts.
Emoji-stamped charts shared by some traders, likely meant as satire, ironically capture the mood swings of holders better than any technical indicator. The above chart, shared by a Pi Network-related news-peddling X account, was attached to claims that “market makers will only activate after everyone gives up,” urging followers to “wait and watch.”
