Injective Burns 7.2M Tokens as INJ Price Eyes Breakout Amid Revenue Growth

Injective has burned more than 7.2 million INJ tokens through its Community BuyBack mechanism, linking protocol revenue with token burns and participant rewards. The milestone highlights the network’s revenue-driven tokenomics. Meanwhile, crypto analyst Giannis Andreou has identified a long-term chart pattern pointing toward a potential $100 INJ price by 2029. However, the projection depends on INJ reclaiming several resistance levels and maintaining its broader market structure. According to Injective, more than 7.2 million INJ tokens have been burned through its community buyback mechanism.