Market Momentum Shift: Injective’s Social Sentiment Surges Amid Bullish Recovery Hopes?

As bears step back, will Injective’s surging social sentiment help a bullish recovery?

The cryptocurrency market has been witnessing quite the drama lately, with numerous assets taking immense hits. However, it seems like the tide might be turning for some, as we see certain altcoins start to regain their footing. One such example is Injective (INJ), which has recently seen its social sentiment spike and bears step back.

The recent surge in social engagement around INJ could be a strong indication that the cryptocurrency is on the cusp of another robust bullish run. Data from LunarCrush Analytics suggests that INJ has recently ranked second in the list of AI coins with the highest social engagement, which could translate to an uptick in its price.

The data also indicates that there’s been a significant increase in Open Interest over the past two days, with a whopping $20.12 million spike. This sudden surge could be indicative of a change in sentiment and a newfound interest in the cryptocurrency. The fact that OI has been pushing higher after hitting a local low at $115.53 million on December 23rd is further evidence that this recent uptick could mark the beginning of a new trend.

As it stands, INJ’s price action appears to be reflecting this shift in sentiment. In the first two days of 2025, the cryptocurrency has surged by an impressive 14.80%, which is certainly a strong indication that bears have indeed stepped back.

What does this mean for investors?

Source: ambcrypto.com