INJ Price Plunges 6.56%, Sellers Dominate Market as Bounce Hopes Fade

INJ's price has been battered by a -6.56% selloff in a single day, leaving it pinned against its lower Bollinger Band at $4.63.

The token is trading below every meaningful short-term moving average: the 7, 20, and 50-day SMAs are all stacked between $4.96 and $5.02, forming a dense overhead ceiling rather than a support floor.

While some technical indicators suggest a possible bounce scenario, the overall picture is bearish, with aggressive sellers dominating the market and retail shorts controlling 60% of the book.