In our “How many X to be a millionaire” series, we have a special case today. This project is one that went from relative obscurity to a top 50 project all in the last year. Its growth has been SO explosive, that it leaves people wondering, did I miss my chance?
And not in a FOMO type of way. The gains were so enormous, that it’s natural to wonder how fast the growth can continue from here. Who are we talking about? Injective. So let’s see how many INJ it takes to make you a millionaire.
INJ Historical Performance
Before I come to an exact number of Injective you need to become a millionaire, you and I need to understand where INJ could go from here. And to do that, we first need to understand where it’s been.
The largest mainnet upgrade in Injective history will be released in a few weeks.
The world is not ready. pic.twitter.com/NpxofP9o2U
— Injective 🥷 (@Injective_) November 30, 2023
Injective has been one of the darlings of 2023. It’s up 48% in the last 30 days and a staggering 1545% in the last 12 months. WOW. Its all-time low was ~3 years ago at 65 cents and those days look LONG gone. We are currently at new all-time highs.
At its current price of $39.7, the market value of Injective is $3.3 billion, placing it at #28 rank among all crypto projects. That puts its market value higher than some big names in the industry like Optimism, Algorand, Maker, and The Graph.
📢 Calling all @solana users!
Wondering how to bridge $SOL from Solana to Injective, using your @phantom wallet?
Injective's got you covered 🤝https://t.co/IsO8a8xTqn
— Injective 🥷 (@Injective_) December 20, 2023
So, that’s an idea of how big Injective is now. But if its financial appchain story becomes a success, there’s no reason why it couldn’t become a $100 billion project. But could Injective hit new all-time highs and make some millionaires? Yes, yes it can. Do you think INJ will hit a new all-time high? Let us know in the comments below.
What do the INJ Charts Say
We asked our Technical Analysis team to look at INJ and here’s what they had to say. The lowest price in 2023 is $1.27 on January 1st. It’s been in a steady uptrend since February. The first support point on the downside is $14.30 followed by $7,81. As far as resistance on the upside goes, we are currently in an all-time high range.
Source: Coingecko
The chart looks very healthy from here although a correction would be natural and healthy at this stage. That could lead to a cheaper entry point from current prices if you want to go long.
How Much INJ = $1 million?
We like INJ for:
- It’s a financial appchain story.
- It is a big part of the Cosmos ecosystem: an ecosystem we are big fans of.
- Good tokenomics: 85% of the total supply is in circulation.
So, how much INJ does it take? In the next 2-5 years, we see INJ going up to $400-600. That would mean INJ is worth 40-60 billion. That’s the range where BNB is now.
🔥 #Injective daily active addresses reaches all time high 🚀
🥷143k+ #Ninjas actively explore ecosystem yesterday 💪
It’s 3x the day before & 20x 10days ago 🔥
Probably something 👀$INJ pic.twitter.com/ILTkzbAsFK
— INJ Hub 🥷 (@Injective_Hub) December 20, 2023
So at $400, that means you would need 2500 INJ. Or in the upper end of our range, you would need 1666 INJ to become an Injective millionaire. And at today’s price, you can get 1666 INJ for $43,333. That would be a 20x+ return at $600. Could INJ hit $400-600? Let us know in the comments below.