Pi Network's PI Trades Near Record Low as Supply and Demand Questions Mount
PI traded near $0.0749 on November 4, roughly 6% above its recorded low of about $0.0706, according to Crypto.news data. Earlier reporting by CryptoPotato put the token below $0.12 after a sharp February sell-off, and the two sources' price histories do not align, which is explained below.
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Where the Price Stands
PI was trading near $0.0749 on November 4, about 6.1% above a recorded low of roughly $0.07059, according to Crypto.news. A decline of about 5.7% from that reference price would bring the token back to the low.
The two sources describe very different price histories. CryptoPotato reported in an earlier piece that PI fell to an all-time low below $0.12 on some exchanges, citing a CoinGecko low of $0.1263, and that the token had briefly reached roughly $0.30 on March 13 after a Kraken listing announcement. Crypto.news's record-low figure of about $0.0706 sits well below both of those levels, so the two accounts cannot be reconciled from the material available, and readers should treat the historical low as dependent on which data provider and time window is used.
Supply and Market Value
Crypto.news cited circulating supply of roughly 11.34 billion tokens. CoinGecko's November 4 snapshot distinguished about 11.344 billion circulating PI, 17.452 billion total tokens and a 100 billion maximum. At the $0.07489 reference price, circulating supply implies a market capitalisation near $850 million, total supply implies about $1.31 billion, and the maximum implies about $7.49 billion. These are illustrative calculations at one assumed price rather than reported valuations.
Earlier CryptoPotato reporting said PI's market capitalisation had fallen below $1.26 billion at its February-era low and that the token had dropped to 58th place on that metric. The two sources' market-cap figures refer to different dates and price points, so they should not be compared directly.
What Would Need to Happen
A move back to $0.08 from the reference price would require about a 6.8% gain, and a move to $0.10 would require roughly 33.5%. These figures measure distance, not likelihood. Crypto.news noted that a previous low is a historical observation rather than a commitment from buyers, and that a market can trade through a level when sell orders exceed available bids.
CryptoPotato's commentators offered divergent readings of the same downturn. One argued the decline was a reason for concern, another framed it as a buying opportunity, and another said the path to $0.10 was open. Those views are opinions and are reported here only to show the range of sentiment.
What Traders Are Watching
The near-term question is whether sellable supply reaching exchanges is met by enough demand at higher prices. Crypto.news said the outlook depends on that balance and on whether services that require PI draw buyers into the market. Sustained trading volume, spreads and the depth of executable bids are better indicators of that balance than price targets circulating on social media.
Why It Matters
For Traders
PI sits within about 6% of its recorded low, so near-term exchange depth and sell pressure matter more than any single price target.
For Investors
A token trading far below its early peak needs a very large percentage gain to recover, so supply growth and sustained demand deserve closer scrutiny than unit price.
For Builders
Any service that depends on PI's price or circulating supply should recheck its assumptions against circulating versus total supply, since the two differ by over 50%.
This article is for information only and is not financial advice. Read the full disclaimer.
