Pi Coin experienced a significant price surge of 24% in October 2025 after the withdrawal of 10 million tokens from major exchanges, including Gate.io and OKX. This event marks an accumulation phase as investors are shifting their holdings to cold storage. While experts speculate on potential market manipulation due to lack of genuine investor purchases linked to the token outflow, the Pi Network’s leadership has yet to comment on the recent exchange activity. 121 million PI tokens are scheduled for release in the coming weeks, raising concerns about potential volatility and market impact if demand does not increase sufficiently. The rise in trading volume, from $114 million, shows a spike of 1,080% due to the reduced available supply.