Pi Network recorded significant token outflows from centralized exchanges this week, with over 1.2 million coins moving to self-custody wallets in the past 24 hours. The native token currently trades around $0.20 after recovering from a midweek low of $0.19, though it remains in negative territory on weekly and monthly charts.
What Happened: Exchange Outflows
Data shows approximately 428 million PI tokens remain on centralized platforms, with more than half stored on Gate.io. Bitget holds the second-largest position with 147.6 million tokens.
The recent exodus from exchanges typically signals reduced selling pressure, as tokens moved to self-custody are less likely to hit the market immediately.
Additionally, upcoming token unlocks appear less aggressive than previous months, with nearly 165 million coins scheduled for release over the next 30 days—averaging roughly 5.5 million tokens daily.
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Why It Matters: Community Division
Market observers remain split on the token's prospects.
X user Web3_Vibes suggested the price could rise after bouncing off support near $0.192, while other community members have projected targets reaching $100, though such scenarios appear highly improbable under current market conditions.
However, criticism has mounted among participants frustrated with the project's development pace. X user pinetworkmembers described Pi Network as shifting from an "ambitious idea" to "years of tapping a button, unclear timelines, shifting goals, and endless 'coming soon' updates," adding that the community lacks transparency about the project's direction.
X user Pi Update characterized the token as "a case study in hype outrunning execution," noting holders continue waiting for fundamental improvements including clear tokenomics, real liquidity, and use cases beyond the native ecosystem.
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