Pi Network’s PI token was trading near $0.0888 on October 3, 2026, according to CoinGecko. For the rest of October, $0.08-$0.10 is a cautious working range, not a price target. The scheduled Protocol 28 upgrade and an exploratory OUSD initiative do not, on their own, show that demand for PI is growing.
- Working range: $0.08-$0.10, based on recent trading levels.
- Conditional upside: $0.10-$0.115, if PI breaks above resistance and holds while demand persists.
- Conditional downside: $0.070-$0.080, if PI falls below $0.08 amid weak demand.
- Key question: Can actual use and new buyers absorb any increase in transferable PI?
PI’s October starting point
CoinGecko’s October 3 snapshot put PI’s seven-day trading range at approximately $0.0861-$0.0935, with reported 24-hour volume of about $5.1 million. Circulating supply was near 11.24 billion PI, putting its market capitalization close to $1 billion.
Reported daily volume was about 0.51% of that market value. That ratio does not measure liquidity or net buying. The same tokens can trade repeatedly, and total volume says little about the depth of buy and sell orders on individual exchanges.
CoinGecko recorded PI’s all-time low at $0.07059 and its peak at $2.99. At $0.0888, PI was about 97% below that peak and would need to rise more than 30 times to reach it again. The old high is historical context, not a credible October target. A steep decline does not, by itself, make a recovery likely.
A working range, not a technical promise
The $0.08-$0.10 range is a cautious reference for the period from the October 3 snapshot through the rest of the month. It reflects PI’s recent trading range and price levels traders may watch: roughly $0.093-$0.094 above the snapshot price, the round-number $0.10 level, and $0.08 below it.
These are not proven support or resistance levels, and they do not come from a predictive model. They are useful markers for judging whether PI is holding its recent range or moving beyond it. Broader crypto-market moves could affect the token too, so a change in PI’s price alone would not reveal the cause.
Protocol 28: better tools do not guarantee demand
In late September, Pi said Protocol 27 had completed on mainnet and Protocol 28 had reached testnet. As scheduled at the time of the October 3 snapshot, node operators had until October 13 to upgrade ahead of planned mainnet activation on October 16, 2026. Those were upcoming milestones as of that date, not confirmation that either had since been completed.
Pi said Protocol 28 would improve how the network handles delays in transaction data and give developers safer ways to upgrade groups of smart contracts and modify stored application data. Testnet is used to test changes. Mainnet is the live network where transactions take place.
These improvements could make applications easier to build and maintain. They do not guarantee that people will use those applications, pay with PI, or hold the token. Better roads help, but they do not make anyone drive.
The OUSD initiative remains exploratory
Pi and Open Standard said they would explore rewards for Pioneers and broader OUSD utility across the Pi ecosystem. The announcement described OUSD, or Open USD, as Open Standard’s stablecoin. It did not confirm a live integration on Pi, a launch date, or the stablecoin’s availability, backing, or redemption arrangements within Pi.
The announcement also did not establish that OUSD activity would create meaningful demand for PI. A stablecoin could support payments or other activity without requiring users to buy or hold much of a network’s native token. The practical link between the initiative and PI’s value remains unproven.
Transferable supply is not the same as selling pressure
Supply estimates need clear definitions and dates. A balance becoming transferable is not the same as an exchange deposit, and a deposit does not prove a sale. Holders can keep, spend, transfer, or sell their PI.
A cited estimate put roughly 1.21 billion PI on a 2026 schedule and also described a pace of about 6.5 million PI per day. Those figures do not reconcile as averages across the full year: 1.21 billion divided by 365 is about 3.32 million per day, while 6.5 million multiplied by 365 is about 2.37 billion. Without a dated schedule and a clear definition of what is being counted, neither figure establishes October’s net addition to transferable supply.
Pi’s September 17 update said more than 417, 000 accounts flagged as possible duplicates could proceed after another review, subject to other required checks. Separately, a technical remedy was intended to unblock 497, 000 fast-track wallet holders who lacked enough PI to pay the gas fee needed to claim migration balances. The groups may overlap. Neither figure confirms completed October migrations or identifies likely sellers.
For context, Pi said in March that more than 119, 000 users had completed second migrations by that point. That is a historical figure, not an October forecast. KYC clearance, migration, transferability, exchange deposits, and sales are separate stages. Adding case counts together and calling the result a seller estimate is bad arithmetic dressed up as analysis.
PI price scenarios for October
Working range: $0.08-$0.10
This is the cautious central range based on the October 3 snapshot, not a guarantee that PI will stay inside it. The recent high near $0.0935 informs the $0.093-$0.094 reference area. The next round-number level is $0.10, with $0.08 as a lower range marker. Neither level dictates what the market will do.
Conditional upside: $0.10-$0.115
From $0.0888, $0.10 would be a gain of about 12.6%, while $0.115 would be about 29.5% higher. The upside case would look more credible if PI held above $0.10 rather than briefly touching it, trading activity stayed steady, and dated data showed repeat application use or other measurable demand.
At a fixed circulating supply of 11.24 billion PI, a move from $0.0888 to $0.115 would take the arithmetic market-cap valuation from about $998 million to $1.29 billion, an increase of roughly $295 million. That does not mean $295 million in new cash must enter the market. Market capitalization is price multiplied by circulating supply, not a pool of money available to buy tokens.
Conditional downside: $0.070-$0.080
From $0.0888, $0.08 is about 9.9% lower. $0.0706, near the recorded low, is about 20.5% lower. The downside case would become more plausible if PI stayed below $0.08 while published supply data showed more tokens becoming transferable and trading or application-use indicators remained weak.
A fall toward the old low would not, by itself, prove the network had failed. A rally would not prove adoption either. To judge whether a move is specific to Pi, compare it with broader market performance, including Bitcoin, and look for evidence of actual network use rather than relying on price or announcements alone.
Key questions about PI in October
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What is the cautious price range for PI?
$0.08-$0.10 is a working range based on CoinGecko’s October 3, 2026 snapshot and recent price levels. It is a conditional assessment, not a forecast with a guaranteed outcome.
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Do Protocol 28 or the OUSD initiative guarantee more demand for PI?
No. Protocol 28 may improve network and developer functions, while the OUSD announcement described an exploration rather than a confirmed live integration. Sustained use and demand would still need to be demonstrated.
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Do the KYC and wallet figures show how many PI holders will sell?
No. They describe accounts that could proceed after review or receive a technical remedy, not completed migrations or sales. Any supply assessment should distinguish transferable balances, exchange deposits, and tokens actually sold.
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What would strengthen either price scenario?
A sustained move above $0.10, continued trading activity, and published evidence of repeat application payments would support the upside case. A sustained break below $0.08 alongside weak use and rising transferable supply would strengthen the downside case.
The main checks for October are whether the October 13 node deadline and planned October 16 activation are met, how PI trades around $0.093-$0.10 and $0.08, and whether dated supply figures can be compared with repeat application payments. The price and schedule figures here reflect information available on October 3, 2026. Later developments could change the outlook.
