{"id":570123,"date":"2024-01-18T17:00:53","date_gmt":"2024-01-18T17:00:53","guid":{"rendered":"https:\/\/uniquehot.com\/?p=570123"},"modified":"2024-01-18T11:42:03","modified_gmt":"2024-01-18T11:42:03","slug":"injective-breakout-against-bitcoin","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/injective\/injective-breakout-against-bitcoin\/","title":{"rendered":"Injective On A Roll: Crypto Analyst Predicts Massive Breakout Against Bitcoin"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/39000-xrp-price-to-hit-220\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Crypto analyst<\/span><\/a><span style=\"font-weight: 400\"> The Crypto Dog has provided a bullish narrative for the <\/span><a href=\"https:\/\/bitcoinist.com\/xrp-makes-its-way-to-injective-ecosystem-as-iip-238-passes\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Injective (INJ) token<\/span><\/a><span style=\"font-weight: 400\">. As part of his insights, the analyst hinted that the crypto token could <\/span><a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-crypto-analyst-1900\/#:~:text=If%20that%20happens%2C%20Ethereum%20could,its%20current%20price%20of%20%241%2C600.\"><span style=\"font-weight: 400\">outperform Bitcoin<\/span><\/a><span style=\"font-weight: 400\"> soon enough.\u00a0<\/span><\/p>\n<h2>Injective To Breakout Against Bitcoin<\/h2>\n<p><span style=\"font-weight: 400\">In an X (formerly Twitter) <\/span><a href=\"https:\/\/x.com\/TheCryptoDog\/status\/30328008?s=20\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\">, The Crypto Dog shared an INJ\/BTC chart while hinting that an \u201cincredibly bullish structure\u201d was forming on the charts for Injective against the flagship crypto token. From the chart, it was obvious that the analyst was suggesting that the INJ token could soon make a <\/span><a href=\"https:\/\/uniquehot.com\/news\/defi\/injective-protocol-social-activity-rising-inj-to-explode\/\"><span style=\"font-weight: 400\">massive move<\/span><\/a><span style=\"font-weight: 400\"> against Bitcoin.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/defi\/sui-overtakes-bitcoin-aptos-defi\/\">SUI Overtakes Bitcoin, Aptos To Become 13th-Largest DeFi Network<\/a><\/div>\n<p><span style=\"font-weight: 400\">However, he didn\u2019t provide details as to when this move could occur and what price levels INJ will hit once this impending breakout happens. Just like <\/span><a href=\"https:\/\/uniquehot.com\/news\/solana\/solana-headed-to-100\/\"><span style=\"font-weight: 400\">Solana\u2019s SOL<\/span><\/a><span style=\"font-weight: 400\">, INJ was another standout crypto token in 2023, as it rose to almost $40, enjoying a gain of about 3,000% in the process. This was more commendable, considering that it happened in an ongoing bear market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, INJ\u2019s run <\/span><a href=\"https:\/\/uniquehot.com\/news\/solana-is-not-done-analyst-identifies-bull-flag-that-will-trigger-massive-rally-above-150\/#:~:text=How%20Solana%20Could%20Rise%20To,a%20sustained%20close%20above%20%24106.\"><span style=\"font-weight: 400\">continued into the new year<\/span><\/a><span style=\"font-weight: 400\">, with the crypto token hitting its current all-time high (ATH) of $45 on January 9. One of the narratives that is believed to have brought INJ this far is the one around artificial intelligence (AI) tokens, with <\/span><a href=\"https:\/\/bitcoinist.com\/ai-could-spark-crypto-bull-run-analyst\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">AI projected<\/span><\/a><span style=\"font-weight: 400\"> to be one of the leading themes in the next bull run.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Injective, a layer-1 blockchain, also prides itself as the first blockchain to offer auto-executing smart contracts and happens to be one of the fastest blockchains out there. With such features, there is no doubt that the demand for the INJ token could continue to be on the rise as Injective\u2019s utility increases.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/qBdHcOUZ\/\" alt=\"Injective price chart from Tradingview.com (INJ Bitcoin)\" width=\"3266\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">INJ begins another recovery trend | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">INJUSD on Tradingview.com<\/a><\/pre>\n<h2>Other Narratives That Could Lead To INJ\u2019s Rise<\/h2>\n<p><span style=\"font-weight: 400\">The <\/span><a href=\"https:\/\/uniquehot.com\/injective\/bridge-trade-injective-inj-network\/\"><span style=\"font-weight: 400\">Injective blockchain<\/span><\/a><span style=\"font-weight: 400\"> happens to be interoperable with Ethereum through its cross-chain infrastructure. This could be significant especially as Ethereum continues to see <\/span><a href=\"https:\/\/uniquehot.com\/news\/ethereum\/predictions-eth-price-ethereum\/\"><span style=\"font-weight: 400\">its dominance surge<\/span><\/a><span style=\"font-weight: 400\">. Once ETH begins to run, INJ could be one of the biggest benefactors since some of the liquidity in the Ethereum ecosystem could easily flow into Injective.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/xrp-price-800-5-90-days\/\">Crypto Analyst Predicts XRP Price Will Surge 800% To Reach $5 In The Next 90 Days<\/a><\/div>\n<p><span style=\"font-weight: 400\">Injective\u2019s distinct <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-burn-to-be-automated-through-shibarium\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">burn mechanism<\/span><\/a><span style=\"font-weight: 400\"> is another feature that could be a big plus for INJ\u2019s price. The network is known to carry out a weekly on-chain <\/span><a href=\"https:\/\/uniquehot.com\/crypto\/here-are-four-crypto-assets-poised-for-a-major-price-explosion-analyst\/\"><span style=\"font-weight: 400\">buy-back-and-burn auction<\/span><\/a><span style=\"font-weight: 400\"> where 60% of fees generated on its protocols are auctioned, with users only being able to bid in INJ. The INJ tokens made from these auctions are then burned and removed from circulation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">These weekly burns are expected to be effective, considering that the token has a maximum supply of only 100 million. So far, close to 6 million of this supply have been burned. Meanwhile, at the moment, there are only just 83.7 million INJ tokens in circulation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, INJ is trading at around $38, down over 4% in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/injective\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Coinpedia, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto analyst The Crypto Dog has provided a bullish narrative for the Injective (INJ) token. As part of his insights, the analyst hinted that the crypto token could outperform Bitcoin soon enough.\u00a0 Injective To Breakout Against Bitcoin In an X (formerly Twitter) post, The Crypto Dog shared an INJ\/BTC chart while hinting that an \u201cincredibly bullish structure\u201d was forming on the charts for Injective against the flagship crypto token. From the chart, it was obvious that the analyst was suggesting that the INJ token could soon make a massive move against Bitcoin.\u00a0 Related Reading: SUI Overtakes Bitcoin, Aptos To Become 13th-Largest DeFi Network However, he didn\u2019t provide details as to when this move could occur and what price levels INJ will hit once this impending breakout happens. Just like Solana\u2019s SOL, INJ was another standout crypto token in 2023, as it rose to almost $40, enjoying a gain of about 3,000% in the process. This was more commendable, considering that it happened in an ongoing bear market. Interestingly, INJ\u2019s run continued into the new year, with the crypto token hitting its current all-time high (ATH) of $45 on January 9. One of the narratives that is believed to have brought INJ this far is the one around artificial intelligence (AI) tokens, with AI projected to be one of the leading themes in the next bull run.\u00a0 Injective, a layer-1 blockchain, also prides itself as the first blockchain to offer auto-executing smart contracts and happens to be one of the fastest blockchains out there. With such features, there is no doubt that the demand for the INJ token could continue to be on the rise as Injective\u2019s utility increases.\u00a0 INJ begins another recovery trend | Source: INJUSD on Tradingview.com Other Narratives That Could Lead To INJ\u2019s Rise The Injective blockchain happens to be interoperable with Ethereum through its cross-chain infrastructure. This could be significant especially as Ethereum continues to see its dominance surge. Once ETH begins to run, INJ could be one of the biggest benefactors since some of the liquidity in the Ethereum ecosystem could easily flow into Injective. Related Reading: Crypto Analyst Predicts XRP Price Will Surge 800% To Reach $5 In The Next 90 Days Injective\u2019s distinct burn mechanism is another feature that could be a big plus for INJ\u2019s price. The network is known to carry out a weekly on-chain buy-back-and-burn auction where 60% of fees generated on its protocols are auctioned, with users only being able to bid in INJ. The INJ tokens made from these auctions are then burned and removed from circulation.\u00a0 These weekly burns are expected to be effective, considering that the token has a maximum supply of only 100 million. So far, close to 6 million of this supply have been burned. Meanwhile, at the moment, there are only just 83.7 million INJ tokens in circulation.\u00a0 At the time of writing, INJ is trading at around $38, down over 4% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image from Coinpedia, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":570144,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91071],"tags":[167,6664,26263,14690,83630,91074,86855,88126,91073,91075,90841,88111,86854],"class_list":["post-570123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-injective","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-inj","tag-inj-news","tag-inj-price","tag-injective","tag-injective-network","tag-injective-news","tag-injective-price","tag-injusd","tag-injusdt"],"acf":[],"yoast_head":"\n<title>Injective On A Roll: Crypto Analyst Predicts Massive Breakout Against Bitcoin<\/title>\n<meta name=\"description\" content=\"Crypto analyst The Crypto Dog has provided a bullish narrative for the Injective (INJ) token against tBitcoin.\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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