Injective Price Surge Reaches New High as Staked Supply Hits 58.8 Million

Injective (INJ) is making headlines after experiencing a significant surge in price over the past 24 hours. This upward trend can be attributed to an increase in staked supply, which has reached its highest level of 58.8 million INJ tokens.

The growing participation among INJ holders may influence market supply and strengthen bullish prospects if demand remains high. However, reaching a price of $10 will require the token to extend its rally significantly.

Injective's recent momentum has improved the short-term outlook, but experts believe that clearing resistance zones is crucial for achieving this target. A sustained move above $9.20 could open the door for $10, while a failure could delay the move.