Injective Community Approves IIP619; Pineapple Financial Buys $2M INJ

Pineapple Financial acquired 560,647 INJ tokens for $2 million at an average price of $3.567 on Feb. 19, raising its holdings to 7% of total supply, the company said. The Injective community approved governance proposal IIP619 with a 99.99% majority on Feb. 19, 2026, enabling a mainnet upgrade to enhance realtime EVM architecture, support next-generation payments, and expand the MultiVM ecosystem; INJ jumped 13% to $3.60 following the announcement before retreating to around $3.20. Crypto trader Third Eye noted on X that a 4-hour close above $3.50 would signal a potential breakout, with support between $3.00 and $2.90, targets at $4.50, $5.00, and $5.50 implying 30-60% upside, and invalidation below $2.90; the analyst cited a market price near $3.38 and described INJ as "loading in a demand zone" after weeks of declines. Third Eye added that INJ traded 76% down over the year with neutral RSI and a consolidating MACD, warning that a breakdown could target $2.98 amid broader pressures.