Injective (INJ) has recorded impressive gains since December 2023 and recently touched a new all-time high (ATH).

INJ has experienced a remarkable 15% surge over the past 24 hours, reaching $48.8 at the time of reporting. The asset soared to a new all-time high of $52.65 at 01:00 UTC on March 13, boasting a total market cap of $4.92 billion.

This achievement marks the second time in the last two weeks that INJ has reached record highs, amid the ongoing bull run across the market.

Data provided by Santiment reveals a significant uptick in whale transactions involving at least $100,000 worth of INJ tokens, with a staggering 90% increase over the past day—from 56 to 106 unique transactions per day. Such a surge in whale activity often correlates with heightened price volatility.

Furthermore, Santiment's data indicates a consistent decline in Injective's exchange flow balance since March 9. Investors have transferred over 134,000 INJ tokens—equivalent to $6.6 million—from cryptocurrency exchanges to self-custodial wallets within the past 24 hours. This accumulation trend suggests a shift towards long-term investment strategies over short-term gains.

On the other hand, INJ's Relative Strength Index (RSI) has recorded a 7% increase in the last 24 hours, climbing from 61 to 65. This indicates that Injective may be slightly overheated presently, with an RSI below 60 signaling bullish momentum.