Players swarming the dragon egg.
Dragon Egg
From the Hypixel Pit Wiki

The Dragon Egg is a minor event in The Pit. When the event begins, the dragon egg always spawns in the center of the Pit area. Clicking the egg rewards players with XP and gold. While 25 gold per click is always awarded, the amount of XP per click increases linearly every time the player clicks it. There is a 1 second cooldown per click per player.

The dragon egg displays a red number above it. The multiplier increases the amount of XP that players earn from clicks. Starting at "x1," this multiplier increases every 20 to 30 clicks. After 30 clicks on the egg when it displays "x8," it will disappear and the event will be over. This allows the egg to be clicked a total of 230 times every event.

The number in parenthesis above the egg is the number of times that the egg has been clicked by any player at that location. After 10 clicks, the egg will move to a new location in the Pit area.

The XP earned per click can be calculated by adding the multiplier (displayed as the "x?" number above the egg) to the number of times the player has clicked the egg, and multiplying by 2. For example, a player's 22nd click on the egg with an x7 multiplier would earn the player (22 + 7) × 2 = 58 XP. This XP bonus is affected by the XP Boost upgrade.


Trivia

If the player clicks the egg all 230 possible times, they will have earned 55,270 XP during the event (88,432 XP with XP Boost VI).
In very rare cases, the dragon egg will teleport on top of itself. This causes the click-detection system the dragon egg uses to malfunction, immediately ending the event.
The Dragon Egg event was added in The Pit 0.4 - Events Extravaganza. One player credited for its creation suggested that the event would instead be a flower hunt instead of one involving dragon eggs.