- INJ demand made a comeback as the price showed signs of reversal after its bearish performance in December.
- Spot flows and derivatives signaled a shift in favor of the bulls, in line with rising social sentiment.
injective [INJ] could be on the cusp of a bullish comeback. The cryptocurrency just ranked as one of the top AI coins in terms of social engagement, among other signs of renewed interest.
According to LunarCrush Analytics, recently INJ in second place in the list of AI coins with the highest social engagement.
This means the cryptocurrency is getting a lot of attention, a result that could impact its performance this month.
The uptick in social sentiment corresponded with a notable spike in Open Interest over the past two days. INJ’s Open Interest increased by approximately $20.12 million during the period.
While this may not necessarily mean much in the grand scheme of things, it did show that open interest was recovering from the downward trend seen in the last three weeks of 2024.
Source: Coinglass
Open Interest has moved higher after hitting a local low of $115.53 million on December 23. OI is up 22.12% over the past 24 hours, accompanied by a 9.45% increase in volume over the same period.
This confirmed a revival of accumulation and rising demand.
INJ’s price action reflects social sentiment
INJ bears seemed to have relinquished their dominance as 2024 came to a close. The cryptocurrency changed hands at $21.91 at the time of writing and rose 14.80% in the first two days of 2025.
Source: TradingView
The INJ money flow index confirmed that the cryptocurrency received another injection of liquidity. Strong demand could help INJ climb back to December highs. If that happens, the coin will rise by almost 60%.
Spot flows show that INJ could be poised for another robust bullish run. Spot outflows were dominant in December, contributing to the significant decline.
However, the outflow is cooling, paving the way for an inflow comeback.
Source: Coinglass
Spot flows turned positive in the first two days of January, with inflows approaching $1 million. In other words, the inflow was still relatively low, but could possibly increase in the coming days.
Read Injective [INJ] Price forecast 2025–2026
INJ performed better in the first half of 2024 than in the second half. The underperformance in the second half of the year indicates that it is still heavily discounted.
This could make INJ a more attractive coin in 2025 due to its potential upside, especially if the AI coin narrative prevails.
