The Story (IP) token price has skyrocketed over $3, driven by Bitcoin recovery and whale accumulation. The two major whales have acquired 16 million IP tokens worth $47.52 million, indicating the profits of investors. Analysts predict that supply walls with IPs of between $4-$5 can be retested.
Story (IP) is trading above $3 after surged 15% in 24 hours amid a notable market turmoil.
This surge in IP prices comes as Bitcoin recovers from the recent low of $98,500 amid growing geopolitical tensions.
However, when BTC exceeds $101K, Market Sentiment is looking at the Story Protocol Token IP.
Commenting on the current market outlook, Crypto analyst Incomesharks said:
Want to know why so many people are weak? It’s on the chart. Institutions, hedge funds and retailers have all begun selling or shorting locally. After that, there was a severe recovery in V shape, and I was narrowed down the line and watched the other way. FUD began with moody, tariffs, war and more.
Whale buys story (IP)
Recent data from blockchain analytics firm LookonChain highlights the substantial accumulation of story (IP) tokens by two major whale addresses.
Whale 0x9921 has accumulated 6 million IP tokens, worth around $1,782 million, while Whale 0x9057 has acquired 10 million tokens, totaling $29.7 million.
Together, these transactions represent the recently executed collective purchases of 16 million IP tokens worth $47.52 million.
Blockchain records reveal multiple successful coin transfers to these addresses, with negligible fees ranging from 2.5 million to 3 million IPs per transaction.
This is not the first example of important whales’ interest in IP. Earlier this year, the exchange reported an outflow of IP tokens worth $4.67 million.
As such, this suggests a preliminary accumulation by large investors.
These purchases preceded a surge in prices of 40%.
Recent whale activities, coupled with a daily price rise of 12.8%, could highlight the pattern of strategic purchases during dips and place IPs for further profit.
Story Price Prediction
Market analysts attribute trader optimism to its ranking as the top 100 cryptocurrency by market capitalization, valued at $896 million.
A project focused on intellectual property asset management is to raise interest.
Based on current whale activity and bull market outlook, IP prices could target regional resistance between $4.00 and $5.00.
However, if the price goes down, AltCoin can revisit support levels for $2.75 and $2.50.
Sentiment analysts show that traders can pay attention in the short term.
The IP price was hovering at about $3.09 at the time of writing. Daily trading volumes increased by more than 100% to over $46 million. Meanwhile, the open profit was over $71 million.
