Pi Network traded near $0.070 on Nov. 12, 2026, as trading activity weakened ahead of the project's first Ecosystem Summit. According to CoinMarketCap data, the token remained roughly 97.6% below its all-time high, hovering close to its record low as attention shifted to next week's event.

The two-day event, scheduled for November 17 and 18, is set to feature developer announcements, application demonstrations, and a $200,000 hackathon. Despite the upcoming showcase, technical indicators suggested that PI remained vulnerable to further losses.

Summit to Spotlight Founders and Developer Ecosystem

Pi Coin will be in focus next week as the development team hosts the first Pi Network ecosystem summit on November 17 and 18. The online gathering is intended to give developers a platform to showcase their products and present their vision for the network's future.

Founders Chengdiao Fan and Nicolas Kokkalis are expected to deliver announcements on the future of Pi. The program will also include technical demos, feature announcements, and broader developer conversations.

The token has historically performed well ahead of major events. In May of last year, it surged ahead of the founders' statements at the Consensus conference. Earlier this year, it also jumped before a significant event that coincided with its Kraken listing.

Pi Network's stated goal has always been to create an ecosystem of decentralized applications spanning multiple sectors, including gaming and decentralized finance (DeFi). The developers have pushed forward on that front in recent months, with the most important milestone being a series of upgrades that introduced new features such as smart contracts, along with Remote Procedure Call (RPC) functionality.

By bringing smart contracts to Pi Network, the developers aimed to position it as a direct competitor to popular chains like Ethereum and Solana. Against that stated ambition, the demonstrations and hackathon submissions presented at the summit will give the project's first public, ecosystem-wide measure of how much of that positioning has taken shape in practice.

Demand Wanes Ahead of the Event

Despite the approaching summit, there are signs that Pi Network's activity remains subdued. CoinMarketCap data show that the token's 24-hour trading volume dropped by more than 41% to just $4.6 million — a tiny amount relative to its current market capitalization of over $797 million. Daily turnover of less than 1% of market capitalization points to thin liquidity, a market condition in which relatively small order flows can produce noticeable price movement.

Most of that volume was concentrated on OKX, followed by Gate and BitGet. Activity on Kraken, a top exchange in the United States, has been negligible.

One reason for the weakness is that the broader crypto industry remains under pressure, with Bitcoin, Ethereum, and other tokens continuing to fall. Total transaction volume across the crypto industry fell by 18% to $62 billion over the past 24 hours.

Investors may also believe the ecosystem summit will bring little new information from the developers. Months after Pi Network's mainnet launch, the ecosystem has yet to produce a breakout application.

At the same time, the project continues to unlock tokens, a process that has increased supply even as demand has dwindled. Fewer than 12 billion Pi tokens are now in circulation against a total limit of 100 billion, meaning more coins will keep coming online each month. That supply schedule operates independently of the summit: whatever is announced on November 17 and 18, additional tokens will continue entering circulation in the months that follow.

Technical Analysis Points to Downside Risk

The daily chart shows the Pi token has been under pressure in recent weeks, struggling to reclaim key levels as it remains below both the 50-day Exponential Moving Average (EMA) and the Supertrend indicator.

Notably, the token has formed an inverted cup-and-handle pattern, a formation that often leads to a continuation of the prevailing trend. It is currently trading along the lower side of the cup.

That structure leaves the path of least resistance pointing lower, with $0.0600 the next level to watch. The bearish view would be confirmed if the price moves below the $0.070 support. On the other hand, a move above the 50-day moving average at $0.079 would invalidate the bearish outlook. Beyond the chart levels, the November 17 and 18 summit is the project's next scheduled event, and its founder announcements, technical demos, and hackathon results will provide the next concrete updates to weigh against the bullish and bearish thresholds outlined above.

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency prices are volatile, and technical indicators cannot guarantee future performance. Readers should independently assess market risks before making investment decisions.

Source: The Market Periodical