Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ALTCOIN NEWS»Injective’s INJ pumps rose 16% after listing on Upbit. Here’s what’s next!
ALTCOIN NEWS

Injective’s INJ pumps rose 16% after listing on Upbit. Here’s what’s next!

By Crypto FlexsOctober 18, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Injective’s INJ pumps rose 16% after listing on Upbit. Here’s what’s next!
Share
Facebook Twitter LinkedIn Pinterest Email
  • INJ has recorded a double-digit rise since listing on Upbit.
  • Will the update help break INJ’s downward trend?

October 17th, Injection (INJ) It surged 16% right after Upbit, Korea’s largest cryptocurrency exchange. presentation It will be listed on the platform. The token surged from $20 to $23 in part due to a 112% increase in daily trading volume.

Source: CoinMarketCap

Although the pumps may have subsided a bit at press time, the listing of Upbit is very significant considering the impact it has had on Cat World (MEW).

For perspective, MEW was launched in March and has been listed on several exchanges, including Bybit and OKX. However, Upbit’s listing last September sparked a craze for cat-themed meme coins.

The reason for the explosive pump is that the exchange is Korea’s largest cryptocurrency trading platform. So the question arises, will INJ follow MEW’s steps?

Will the upward trend continue?

It remains to be seen whether INJ’s upward trend will continue even after listing. However, the price movements following the update were triggered by speculators in the futures market rather than the spot market.

The rally added more than 15 million INJ open interests to the Binance exchange, according to Coinalyze data.

This means that leveraged traders have driven the explosive rally as spot demand has slowed, as evidenced by low spot CVD (cumulative volume delta).

For context, CVD measures buying and selling volume across exchanges, and a downward trend indicates that selling volume (sellers) is dominant.

injectioninjection

Source: Coin Analysis

On the higher timeframe charts, Thursday’s pump strengthened INJ’s bullish market structure. This is especially true in October with higher lows and higher highs.

The rally hit the high point of the descending channel (yellow). However, it failed to definitively break down the downward trend structure.

injectioninjection

Source: INJ/USDT, TradingView

INJ is on the verge of a breakout, but has been facing massive outflows from the market since late September. This is indicated by the southbound Chaikin Money Flow (CMF). Low capital inflows may delay the prospect of a breakout.

However, at the time of going to press, INJ had defended the 50-day EMA as support and could attempt another rise from the level. If so, $24 or $28 could be the next target, especially if the bullish momentum continues over the next few days.

However, it is worth noting that Binance’s smart money was net long the token and 55% of positions were betting on INJ’s price rising.

INJINJ

Source: Coinglass

Next: Everything you need to know about AAVE’s ‘profitable’ holders

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

$ 438m XRP Transfer Sparks Panic- Ripple?

June 19, 2025

Solana Price Eyes 103% Rally $ 300: Here is the reason.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

GalaChain Reveals Decentralization Strategy in New White Paper

October 23, 2024

NEAR Protocol surges 7.3%, is it ready to rise further?

April 26, 2024

Bitcoin Wallet UniSat Warns About Fake Apple iOS App

April 1, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.