Injective Approves Major INJ Supply Reduction with 99.89% Vote
- Structural Reset: Injective's community voted with 99.89% approval to implement a new Supply Squeeze framework aimed at reducing INJ issuance and enhancing token scarcity, thereby laying a foundation for long-term economic stability.
- Token Destruction Mechanism: Approximately 6.85 million INJ have already been removed from circulation, and the updated design accelerates this process by ensuring fewer new tokens offset those burns, positioning INJ to evolve into a deeply deflationary asset over time.
- Market Context Analysis: This overhaul occurs against the backdrop of INJ losing nearly 80% of its value, with the community framing this structural reset as a means to support the network's stability in future cycles rather than a catalyst for immediate price recovery.
- Cooling DeFi Ecosystem: The total value locked in Injective's DeFi ecosystem has dropped to $20 million, significantly lower than the $60 million seen during stronger market conditions last year, indicating reduced on-chain demand while the new tokenomics suggest a focus on long-term resilience and alignment of network usage with token value.
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Technical Analysis for INJ
Technical Sentiment Analysis for Injective (INJ) As of , Injective (INJ) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for INJ stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, INJ is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Injective (INJ) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.244 | 1.947 | 2.704 | 3.407 | 4.164 | 4.867 | 5.624 |
| Fibonacci | 1.947 | 2.505 | 2.849 | 3.407 | 3.965 | 4.309 | 4.867 |
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