INJ surged 11% instantly, so you can start shorting it.

Let’s talk about the reasons for the surge first.

INJ was listed on the Korean exchange UPbit today, which is one of the main reasons for the surge.

Due to the poor social environment in South Korea, many Korean people regard cryptocurrency speculation as the only way out, so Korean retail investors are extremely speculative. Once a small currency is listed on a local Korean exchange, there will often be a large number of crazy retail investors participating, which will cause a surge after the opening.

For example, CKB also surged at the end of last month because it was listed on a Korean exchange.

In fact, many new coins will also rise due to the popularity after they are listed on Binance, but Binance’s retail investors are far less crazy than Korean retail investors, so the increase is limited.

However, after the initial popularity of new coins has faded, they usually continue to fall. This is the case for many new coins listed on Binance, and so is CKB, which is still falling.

Therefore, you can sell INJ or start considering shorting it.