Injective (INJ) Analysis

The Injective community has approved transformative changes to its tokenomics, launching the Injective 3.0 system.
This revision modifies INJ’s minting mechanics and introduces features designed to make it “one of the most deflationary assets in crypto.

As the Injective (INJ) token exhibits a consolidation pattern, market enthusiasts and traders closely monitor on-chain metrics to discern whether the price could be setting up for a leap toward the $40 mark.

Injective (INJ) price is attempting a recovery after falling through the $35 support level, marking a monthly low.
Crypto whales will likely be the catalysts of the recovery, given their recent massive INJ accumulation.

The Injective (INJ) price dynamics reveal that 83% of active holders are at break-even, hinting they’re awaiting a price rebound. Concurrently, INJ’s active addresses have recently increased after a late March dip.
Additionally, the EMA lines suggest a solid consolidation pattern following a 14.

The Injective (INJ) price momentum turned bearish following the formation of its all-time high nearly two weeks ago.

Injective price has been seeing nominal growth since December 2023, but the altcoin did manage to mark a new high this month before correcting.
Despite being stuck in the sideways channel, INJ has managed to chart a new all-time high thanks to the support from this particular group of investors.