The chart for $INJ has shown two volume surges over the past 30 days, but neither held. On September 20, volume jumped to $293M and pushed the price up to 7.9, then steadily shrank to $71M without the price falling back. On October 17, volume surged again to $294M, testing 8.72, before dropping back to $127M, with the price returning to the 8s. This isn’t a lack of interest—capital comes in, makes a round, and leaves; nobody is willing to keep buying at higher levels.
At $8.09, the price is now near the lower end of the high-volume range. The key question is whether volume can return to $200M: if it can, that suggests buyers are still stepping in at lower levels. If not, 8.0 is only nominal support; the real high-volume zone below is 7.4–7.6.
Being 84.63% below its ATH has a counterintuitive effect: there’s almost no fresh supply trapped above, and most holders’ cost basis is much higher, so short-term selling pressure is actually lower. But it also means any rebound in $INJ depends entirely on new liquidity; existing capital won’t carry it far. In a rotation-driven market, it looks more like a temporary catch-up play than a core narrative.
I’m not sure where the money driving this move is coming from—Cosmos ecosystem inflows, changes on the staking side, or spillover from rotation trades. I haven’t spotted any on-chain clues yet. If you’re tracking $INJ , compare it against the capital flows.
At $8.09, the price is now near the lower end of the high-volume range. The key question is whether volume can return to $200M: if it can, that suggests buyers are still stepping in at lower levels. If not, 8.0 is only nominal support; the real high-volume zone below is 7.4–7.6.
Being 84.63% below its ATH has a counterintuitive effect: there’s almost no fresh supply trapped above, and most holders’ cost basis is much higher, so short-term selling pressure is actually lower. But it also means any rebound in $INJ depends entirely on new liquidity; existing capital won’t carry it far. In a rotation-driven market, it looks more like a temporary catch-up play than a core narrative.
I’m not sure where the money driving this move is coming from—Cosmos ecosystem inflows, changes on the staking side, or spillover from rotation trades. I haven’t spotted any on-chain clues yet. If you’re tracking $INJ , compare it against the capital flows.