A pixel circuit, a drive method based on the pixel circuit, and a display device. The pixel circuit comprises: a first capacitor (C1), a second capacitor (C2), a second transistor (T2), a third transistor (T3) and a light-emitting branch for being coupled between a first common electrode (VDD) and a second common electrode (VSS); wherein the light-emitting branch comprises a first transistor (T1), a fourth transistor (T4) and a light-emitting element (OLED) which are connected in series; a first electrode of the first transistor (T1) is coupled to a second electrode of the fourth transistor (T4), and a coupling node is a third node (C); and a control electrode of the fourth transistor (T4) is used for inputting a second scanning control signal (VEM), and the fourth transistor (T4) switches the ON/OFF state of the light-emitting branch in response to the second scanning control signal (VEM). At the programming stage, a threshold voltage of the first transistor (T1) is input to a first node (A) through the third transistor (T3) and is stored; and at the light-emitting stage, a light-emitting current for driving the light-emitting element (OLED) is generated according to information about a voltage difference across two ends of the first capacitor (C1). The pixel circuit is used for compensating for the threshold voltage shift of the first transistor (T1) and the light-emitting element (OLED).