IP’s Wild Ride: Outshines Bitcoin, Ethereum & Makes Whales Go Bananas! 🚀

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IP’s trading volume soared by 1,890%, showing immense participation. The altcoin’s recent rally is potentially driven by Heritage Distilling’s buyback and its Upbit listing.

Move over, Bitcoin and Ethereum! Story Protocol [IP] has waltzed onto the crypto stage like a drunken uncle at a wedding-except this guy knows exactly what he’s doing! 😎 On the 31st of August, IP didn’t just top the charts; it moonwalked past them while BTC and ETH were busy playing “Can You Feel the Love Tonight?” 🦶🌕

Current price momentum

At press time, IP stood at $7.75-a number so hot, it could melt your grandma’s favorite candlestick chart. 🕯️🔥 In just 24 hours, this little rebel surged over 35%, triggering a feeding frenzy among traders. Trading volume skyrocketed by 1,890%, which sounds less like finance and more like an intergalactic space battle statistic. Pew pew! 🚀📈

Why is IP rising?

Well, folks, strap in because this one’s juicier than a Thanksgiving turkey. Heritage Distilling decided to throw $82 million worth of IP into their shopping cart at the $3.40 level (thanks for the discount, guys 👏). And oh, did I mention the shiny new listing on Upbit? That Korean exchange is now driving 30% of daily volume-because apparently, K-pop isn’t the only thing Korea’s exporting anymore. 🎤🇰🇷

But wait, there’s more! Market makers Wintermute and Selini are keeping spreads tighter than my aunt’s holiday sweater collection. Plus, a16z [AI16Z] is backing Story Protocol with $220 million, and Grayscale Trust has added IP to its roster. It’s like being invited to both the Oscars AND the Met Gala in the same week. 🎬👗

And let’s not forget our favorite whales. Blockchain tracker Lookonchain spotted a whale hauling out 433,176 IP tokens (worth $3.7 million) from Bybit. This whale either knows something we don’t or just really needed cash for Black Friday sales. 🐋💸

Story Protocol: What’s the road ahead?

According to AMBCrypto’s technical analysis, IP finally broke through the $7.10 resistance level-something it had been trying to do since last season of *The Bachelor*. 🌹 Now that it’s cleared this hurdle, the path upward looks smoother than a freshly waxed floor. If IP holds above $7.10, we might see it hit $9.10 faster than you can say “buy low, sell high.” 💰✨

But hold your horses-or should I say unicorns 🦄-because the daily chart shows signs of a price correction after reaching $8.94. Don’t worry though; retesting the breakout area is as normal as eating leftover pizza for breakfast. 🍕

The Supertrend indicator is flashing green, signaling strong upside momentum. Meanwhile, the RSI sits comfortably at 67-not too shabby, not too greedy. Looks like IP still has room to run before it gets tagged as “overbought” and sent to crypto detention. 🟩📈

On-chain metric flashes mixed sentiment 

Ah yes, the plot thickens. According to CoinGlass, major liquidation levels sit at $7.62 and $8.20-prime spots where traders are leveraged up to their eyeballs. Over the past 24 hours, bulls have built $3.57 million in long positions, while bears countered with $2.39 million in shorts. Bulls are winning this tug-of-war, but will they trip on the rope? 🐂🐻

Oh, and here comes the twist: Spot Inflow/Outflow data reveals $2.91 million worth of IP flowing back into exchanges. Translation? Some investors are cashing out faster than a kid trading Pokémon cards for ice cream money. 🍦📉 But hey, profit-taking is part of the game. Just hope they reinvest in something cooler… like NFTs of cats wearing sunglasses. 🐱🕶️

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2025-08-31 21:16