INJ is at 9.18u now, up 25% today. A month ago, it was still at 5.16.
There’s something behind this move. On the 14th, their CEO went to Washington with people from the legal and policy teams and met with the White House, the SEC, and the CFTC to discuss how tokenization and on-chain finance can operate within regulatory rules. It was news they announced themselves, and over the past couple of days they’ve also said INJ is heading to Wall Street. They really are ahead of others on the regulatory front—their futures are already a regulated product.
The more important thing on the chart is the 8.2 level. Since late September, price had been held back there for a whole month. It tried several times and couldn’t break through, but today one candle punched straight above it. There’s been no trading in this area for a month, so there’s no overhead supply from trapped holders weighing it down. That should make it easier to move up.
Another thing that’s easy to overlook: this coin is fully circulating. All 100 million tokens have been released, so there are no unlocks to worry about. The amount held on exchanges has also fallen from 1.26 million in August to 870,000. Coins are moving off exchanges, not sitting there waiting to be sold.
I wouldn’t chase it at this price. I’d wait for a pullback. If it holds above 8.25, then this breakout is real, and entering then would be safer than buying now. If it falls back below 8.2, I’d treat it as a false breakout and get out.
I’m not giving an upside target. There’s no reference point from the past month, so throwing out a number would just be misleading. Take it one step at a time. #inj
There’s something behind this move. On the 14th, their CEO went to Washington with people from the legal and policy teams and met with the White House, the SEC, and the CFTC to discuss how tokenization and on-chain finance can operate within regulatory rules. It was news they announced themselves, and over the past couple of days they’ve also said INJ is heading to Wall Street. They really are ahead of others on the regulatory front—their futures are already a regulated product.
The more important thing on the chart is the 8.2 level. Since late September, price had been held back there for a whole month. It tried several times and couldn’t break through, but today one candle punched straight above it. There’s been no trading in this area for a month, so there’s no overhead supply from trapped holders weighing it down. That should make it easier to move up.
Another thing that’s easy to overlook: this coin is fully circulating. All 100 million tokens have been released, so there are no unlocks to worry about. The amount held on exchanges has also fallen from 1.26 million in August to 870,000. Coins are moving off exchanges, not sitting there waiting to be sold.
I wouldn’t chase it at this price. I’d wait for a pullback. If it holds above 8.25, then this breakout is real, and entering then would be safer than buying now. If it falls back below 8.2, I’d treat it as a false breakout and get out.
I’m not giving an upside target. There’s no reference point from the past month, so throwing out a number would just be misleading. Take it one step at a time. #inj