This Token Has Soared Over 930% in Price Since Start of 2023

This token has witnessed an impressive price surge of over 930% since the beginning of the year despite the overall crypto market experiencing a bearish trend. This substantial increase reflects a remarkable performance, with the price surging by more than tenfold.

This token is called Injective (INJ), which presently boasts a market capitalization of approximately $1 billion. This positions the token at 44th place in terms of market capitalization rankings.

However, it’s worth noting that the daily trading volume for INJ is just under $80 million, which appears relatively low compared to its market capitalization.

Injective (INJ) Price. Source: BeInCrypto

930% Growth in 10 Months for Injective Price

Despite the overall bearish sentiment in the cryptocurrency market, this token has remarkably surged tenfold in value over the course of the year.

The INJ price successfully breached the 0.382 Fibonacci resistance level, situated around $10.4, earlier this month. Looking ahead, the next noteworthy Fibonacci resistance can be found at approximately $16.2, with additional horizontal resistance ranging from $16.65 to $25.3.