INJ Price Action & Catalysts: Poised for a Breakout?
#Injective $INJ is trading at a resilient $6.62 (up 2.19% in 24h), demonstrating strength despite broader market "Extreme Fear." While showing a 7-day dip, the token has maintained crucial support levels.
Key Catalysts Driving Momentum:
Major Upgrades: The recent EVM mainnet launch significantly boosts interoperability (Ethereum, Cosmos, Solana), complemented by the throughput-focused Injective 3.0 upgrade.
Institutional Traction: Interest is growing, highlighted by filings for a staked INJ ETF and a treasury allocation from NYSE-listed Pineapple Financial.
RWA/DePIN Pioneer: Injective is leading innovation by tokenizing Real World Assets (RWAs), including pre-IPO stocks and Nvidia H100 GPUs.
Deflationary Tokenomics: A new token buyback program reinforces deflationary pressure, following a previous $32 million INJ burn.
Technical Outlook: Short-term bullish momentum is suggested by a bullish MACD crossover (1-hour chart) and the 7-period EMA crossing above the 25-period EMA. On-chain data is strong, with transactions over 1.2 billion and a high long/short ratio.
