The price of the Injective Protocol’s token INJ has seen significant gains over the past 24 hours. Pricing information from CoinMarketCap indicates that the value of INJ has risen to $39.91, marking a 3.72% increase, with its trading volume reaching $421 million over the last day.
Members of the cryptocurrency community have taken notice of Injective’s price movement and are anticipating further upside. ProfessorAstrones, a top crypto analyst, tweeted, “The train is leaving the station. See you at $100.” He expects the Injective token to more than double its current price.
Additionally, the decentralized exchange OMOSwap announced they have listed Injective on their platform. In a tweet, OMO stated they expect strong demand for INJ as Bitcoin trends back towards $60,000. They told followers to “Get your bags packed as the coins get ready for liftoff!”
Technical Analysis and Market Sentiment
Besides the listing by OMO, technical analyst Dark Knight sees the Injective price breaking out after a month-long consolidation phase. In his analysis, he notes increased buy pressure signaling rising interest from buyers. With Bitcoin pumping above $55,000, he believes “altseason” has arrived, referring to a period where alternative cryptocurrencies outperform Bitcoin.
Previously, Dark Knight had identified a support level at the 0.5 Fibonacci retracement. This support zone has held on successive tests, leading to rebounds in price. Now above $37, Dark Knight sees the breakout initiating a new rally to retest the all-time high around $45. He tells Injective holders to “brace yourselves for a new ATH!”
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +The growing momentum behind Injective seems to support these optimistic outlooks. However, cryptocurrency prices can reverse rapidly. It remains to be seen if this latest surge will translate to new highs or end up as just another short-term spike. Nevertheless, the Injective project continues gaining support and adoption across the expanding decentralized finance ecosystem.
You may also be interested in:
- Expert Urges Caution on Long-Term Meme Coin Holdings; Dogecoin (DOGE), Shiba Inu (SHIB), and Others
- Stacks (STX) and Pyth Network (PYTH) Prices Pumping – Here’s Why
- SEC vs Ripple Lawsuit Prompts Investors to Turn Towards BlockDAG’s $2M Presale
Check $RECQ Meme Coin
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.