Pi Network whale tops 400M PI as June unlocks and upgrades arrive

A single Pi Network address tracked as GAS…ODM has passed 400 million PI, making it the largest known holder, while PI trades near $0.143, just above its $0.1296 all-time low. On-chain activity shows the wallet added more than 1.5 million PI in a single day during May and accumulated through the month.

Tagged exchange wallets hold about 545 million PI in total and recorded a net inflow of roughly 1.5 million PI in the past 24 hours. Inflows to exchange addresses often precede selling activity, according to transaction data.

Technical indicators on the daily chart show a Moving Average Convergence Divergence, or MACD, crossover forming for early June. Historical positive MACD crosses on the daily chart produced gains of 53.56% on Oct. 17, 2025, 30.39% on Nov. 16, 2025, 122.07% on Feb. 13 and 21.36% on April 15. The average of the prior successful signals equals 55.65%, which would place PI near $0.22, a level that corresponds to the 0.382 Fibonacci retracement of the broader downtrend. A December crossover did not produce a follow-through when volume was thin.

Protocol activity and mainnet milestones are set for June. Pi Network reports 18.1 million verified users, 16.72 million migrations and more than 119,000 second migrations completed. Node operators must install the Protocol 24 upgrade by June 2 to remain connected to the network. Protocol v25.1 is scheduled for June 8 and Protocol v26.0 for June 22. The Pi Core Team posted that all mainnet nodes must complete the Protocol 24 upgrade before the June 2 deadline to stay connected.

Supply dynamics include average daily token unlocks of about 6.5 million PI. At the current price, that equates to roughly $29 million of new supply entering the market during June. The combination of daily unlocks, exchange inflows and the large accumulating address are concurrent factors affecting available supply during the month.

Ownership of the GAS…ODM address has not been confirmed. Some analysts tracking Pi transactions have suggested the address could be serving a buyback or treasury role, while on-chain observers note the address has been absorbing supply during the recent price decline.

June’s schedule includes the unlock cadence, the three protocol releases and the developing MACD signal on daily charts. Market participants and node operators will observe price action and on-chain flows as those events occur.