Story Protocol (IP) price surged over 35% in 24 hours, driven by an $82M buyback, a new Upbit listing and heavy market-maker support; trading volume jumped 1,890%, signaling strong short-term bullish momentum while on-chain inflows suggest profit-taking risk.
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IP climbed 35% with trading volume up 1,890% — clear breakout and strong participation
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Heritage Distilling’s $82M buyback and Upbit listing are core catalysts; whales and market makers intensified liquidity.
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On-chain data: $2.91M exchange inflows and key liquidation levels at $7.62 and $8.20 highlight both upside and risk.
Story Protocol (IP) price jumps 35% as volume soars 1,890%; read the latest analysis and trading levels — track IP now.
What is driving Story Protocol (IP) price surge?
Story Protocol (IP) price rose sharply after Heritage Distilling executed an $82 million buyback and IP was listed on Upbit, prompting retail and institutional participation. Volume surged 1,890%, and market makers provided tight spreads, supporting the breakout while on-chain inflows indicate profit-taking risk.
How significant was the trading volume spike and what does it mean?
IP’s trading volume spiked 1,890% versus the prior day, confirming broad participation across exchanges. High volume on a breakout suggests conviction among buyers and better order execution from firms such as Wintermute and Selini, though elevated exchange inflows may signal short-term selling pressure.
Why did Heritage Distilling and Upbit listing move the market?
Heritage Distilling’s reported $82 million buyback at approximately $3.40 created a strong demand floor and signaled institutional conviction. The Upbit listing — contributing roughly 30% of daily volume — broadened market access in Korea, attracting regional liquidity and amplifying price discovery.
What role did whales and market makers play?
Large market makers provided liquidity, tightening spreads and enabling continuous order refilling. Lookonchain reported a whale withdrawal of 433,176 IP (~$3.7M) from Bybit, indicating active large-holder movement that often precedes volatility and trading opportunities.
Current price momentum
At press time, IP traded near $7.75 after a 35% 24-hour gain. Technical indicators show IP cleared resistance at $7.10, with the Supertrend flipping green and RSI at 67, still below overbought levels — implying room to run if volume sustains.
Technical outlook and levels
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Support (breakout): $7.10 — holding this level supports bullish continuation.
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Near-term target: $9.10 — potential 30% upside if momentum continues and $7.10 holds.
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Key hurdle: $9.10 — clearing this opens additional upside; failure may prompt retracement to $7.10.
Source: TradingView
What do on-chain metrics reveal about sentiment?
On-chain analytics from CoinGlass show major liquidation clusters at $7.62 and $8.20, areas of concentrated leverage. Spot inflows totaled $2.91M in 24 hours, indicating exchange-bound tokens and potential profit-taking. Net long build over 24 hours reached $3.57M in longs vs $2.39M in shorts, reflecting bullish dominance.
Source: CoinGlass
Source: CoinGlass
Frequently Asked Questions
How long could IP’s rally last?
Short-term momentum can persist while volume remains elevated and IP holds $7.10. A confirmed break above $9.10 would extend the move; losing $7.10 would likely trigger a pullback to previous support levels.
Should traders watch exchange inflows or liquidation maps?
Yes. Exchange inflows of $2.91M and liquidation clusters at $7.62 and $8.20 are immediate signals of leverage concentration and potential retracement risk; manage position sizing accordingly.
Key Takeaways
- Strong catalyst: Heritage Distilling’s $82M buyback and Upbit listing drove broad buying interest.
- Momentum confirmed: Volume up 1,890% and breakout above $7.10 indicate conviction, with RSI and Supertrend supporting upside.
- Monitor risk: Watch exchange inflows ($2.91M) and liquidation levels at $7.62 and $8.20 for short-term volatility signals.
Conclusion
Story Protocol (IP) has experienced a decisive short-term rally backed by institutional buybacks, a major exchange listing and market-maker liquidity. Technical and on-chain data point to continued upside if $7.10 holds, but exchange inflows and liquidation clusters warrant caution. Follow volume and on-chain flows for the next directional confirmation.
