When a coin falls sharply, it’s easy to think: “Once it gets back to its old prices, I’ll make money.”
INJ is a similar story. As of November 2, the price is around $7.2. But a steep drop on its own doesn’t make it a good buy. Let’s look at what there is to go on here.
What is the project?
Injective is a blockchain for financial applications: trading, exchanges, and other services that run through smart contracts.
INJ is used for staking and voting on network changes. In other words, the coin has a purpose within the project, and its prospects depend in part on whether people use the network.
What interests me here? 🔥
Injective has an INJ burning mechanism tied to ecosystem revenues. Participants in the monthly program contribute INJ in exchange for a share of the collected assets, and the contributed tokens are destroyed.
But there’s a detail that’s easy to miss: INJ is also issued as staking rewards. So, “coins are being burned” doesn’t necessarily mean the total supply is shrinking. You need to compare the amount burned with the amount newly issued. This is described directly in the Canary documents filed with the SEC.
Where to look for a buying opportunity?
I’d consider two scenarios:
🟢 On a dip: wait for the decline to stop and see whether buyers hold the price if it drops again.
🟢 After a recovery: wait for the price to break above its local range and then retest that level from above.
Buying just because it’s “already cheap” is a weak argument. Sometimes entering at a slightly higher price after confirmation makes more sense than trying to catch the absolute bottom.
And what are the bullish targets? 🚀
If we use $7.2 as the starting point:
🎯 $10 — roughly +39%.
🎯 $15 — roughly +108%.
🎯 $20 — roughly +178%.
🎯 $30 — roughly +317%.
These are my rough reference points for a recovery scenario, not a calculated fair value or a promise of growth.
$20–30 would already be a strong bull-case scenario. To get there, I’d want to see a market revival, increased use of Injective, and more demand for INJ itself. A compelling story about token burns alone isn’t enough.
Where to sell?
In that scenario, I’d prefer to take profits in stages as the targets are reached. For example, sell some at $10, the next portion at $15, then reassess. Waiting for one perfect price to sell the entire position is easy to say and much harder to do in practice.
The main question for me is: can Injective attract more users and trading activity? If so, there’s a foundation for recovery. If not, the low price could stay low for a long time.
Do you still believe in INJ, or have you already replaced it with other coins? 👇
$INJ