The PI network is under fire after its local PI token has dropped by over 50% in five days. On May 17, 2025, Dr. Picoin The PI -Kernteam to sell thousands and thousands of tokens at the most recent price peak.
He quoted blockchain data that included a 12 million Pi -tokt transfer through the rise of the token near 1.60 US dollars. According to Dr. Picoin did the sale while the team drew attention to Pi Network's appearance at Consensus 2025.
“The core team sold ten million, if not a whole lot of thousands and thousands of PI at the height – while the community was distracted by announcements and the illusion of progress.”
He wrote about X. The post contained a screenshot that shows a big discharge from a wallet that was supposedly sure to the core team.
12 million PI tokens moved from the core letter bag. Source: Dr. Picoin on x
12 million PI transfer raises transparency issues
The Gabt7Imp wallet comprised the in query. Some users argued that this wallet had long been marked for distribution and operating functions. They claimed that the activity reflected the migration of Testnet-to-Minnet.
“You say Pi is sold. It isn’t true. Only those that don’t understand this wallet are misleading. Be one in every of them”
A PI pendant said on X. He pointed to Piscan, the blockchain explorer and argued that it showed misleading departure data and not using a clear context.
Pi Wallet Gabt7emp defends within the sales claims. Source: Pinewszoneon X
Nevertheless, the concerns continued. Critics have highlighted the scale and time of the transmission, which corresponded closely with the general public event of PI Network. At the time of the letter, no official explanation of the PI core team was published.
Community expected Mainnet received ecosystem funds
Before the 2025 consensus, Pi Network proposed a big unveiling. Many expected the beginning of the Mainset and the activation of 100 decentralized apps (DAPPS). Instead, the Pi Network Ventures team presented a 100 -million dollar -Ecosystem fund to support development.
The announcement triggered criticism. Some users called the Move UNGELING and said that he had contributed to the sale. Dr. Picoin wrote,
“The community believed that with 100 high-quality dapps they’d be heading for a whole starting start. Instead, there was no big update on May 14th. Only Pi Network Ventures.”
Carpet pull the claim against the PI core team. Source: Dr. Picoinon X
The timing of the tokens transmits and the dearth of detailed communication amongst users, especially after the sharp drop in price.
Dr. Nicolas Kokkalis shares the Roadmap project on the event
During the identical event, the co -founder of PI Network shared Dr. Nicolas Kokkalis plans for the project. He said the central knot had been closed. This change supports the step of PI Network for decentralization.
Kokkalis also demonstrated Horizon, an upgrade for PI node operators. He said that the brand new update would help prepare the infrastructure for a whole starting start, regardless that he didn’t specify a selected date.
He added that the project would consider the mixing of artificial intelligence and decentralized identity tools to support Web3 functions within the PI network ecosystem.
Since the worth of PI continues to fluctuate, the users remain divided. Supporters say the transactions are a part of the planned operations. Critics imagine that activity suggests the sale of insiders.
No official clarification comes from the PI team. The wallet involved stays energetic within the blockchain, but its exact role remains to be being discussed.
The Insider -Selling debate follows a steep token crash and a public disappointment in keeping with consensus 2025. The next steps of the project can rely on further information and technical advances.
PI network diagram forms falling wedge, price eye 60% upward break
On May 18, 2025, the retail couple Pi Network to Tether (Piusdt) showed a transparent lug pattern within the 4-hour table on OKX. A falling wedge is a technical formation during which the worth in converting trend lines moves lower and infrequently signals a possible bullish outbreak.
Piusdt Falls Weart pattern signals reversal. Source: Tradingview
In this diagram, the PI network fell strongly from the height of USD 1.60 and formed lower heights and lower lows. At the identical time, the quantity decreased, and the measured values ​​for relative strength index (RSI) hovered near the oversold area. These are common features of a falling wedge.
Piusdt is currently 3.56% of $ 0.7476 within the last 4 hours. If the pattern confirms and breaks out over the wedge, the PI network could gather almost 60% of its current level. This step would place the subsequent major goal near 1.18 US dollars.
The diagram also points to a blue arrow, which shows the expected step when buyers press the worth over the resistance zone. The 50-year-old exponential sliding average (EMA) is $ 0.8569 and acts as a short-term level of resistance. A breakout and a closure over this EMA could strengthen the bullish case.
In the meantime, the RSI indicator, which is currently positioned at 41.44, turns up from an area floor near 37.61. This upward turning indicates early signs of an impulse circuit in favor of buyers.
The volume on May seventeenth rose through the jump and reached 18.27 million tokens, which supports the argument for an energetic accumulation phase. When the worth exceeds the wedge, retailers can observe the degrees of 1.10 and 1.18 USD as short -term goals.
The key support stays near $ 0.65, while the falling wedge structure narrows. A powerful outbreak with volume confirmation will probably trigger the subsequent upward leg.
