Injective (INJ) Skyrockets Over 442% As Bulls Take Over The Market

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Injective (INJ), a prominent smart contract blockchain, has caught the attention of the cryptocurrency community with an impressive rally of more than 442% in the past year. This surge has defied the bearish trend in the crypto market, solidifying the platform’s position as a game-changer.

With notable support from influential crypto investors such as Binance, Mark Cuban, Jump Crypto, and Pantera, Injective has become a hot topic in the industry. Its tokenomics strategy, including the burning of 5.7 million INJ tokens and an annual gas savings of around $239 million, has further propelled its rise to prominence.

Injective Price Analysis

In recent months, the Injective network has consistently displayed a highly bullish outlook.

Renowned crypto analyst Captain Faibik is convinced that INJ’s price is headed for a 240 percent rally in the coming weeks to trade around $18 per coin. Moreover, INJ has been making higher highs and high lows on the daily and weekly time frames. The daily INJ price action just broke out of a falling logarithmic resistance level in the last two days.

A similar bullish stance on the Injective INJ price has been adopted by a veteran crypto trader on Twitter @CryptoTony_, who expects the bulls to continue pushing higher in the coming days.

Injective (INJ) Records Impressive Figures

As of today, the Injective (INJ) market boasted a total valuation of approximately $771 million, with a daily traded volume of about $74 million. This reflects the growing interest and confidence in the platform. During early New York market hours on Tuesday, INJ was trading around $7.78, experiencing a notable 84% increase in on-chain activity.