- $IP trades at $12.48 with over 1148% gains, showing sustained bullish breakout and investor demand.
- EMA-9 at $10.79 supports price action, while volume spikes confirm buying interest.
- Story Protocol locks $39M TVL; market cap hits $3.74B with strong trading activity and sentiment.
Story Protocol’s native token $IP continues its sharp upward trajectory, showing strong bullish signals on both technical and fundamental fronts. The token recently hit a new ATH, riding momentum fueled by volume and sentiment.
Testing Mid-Channel Support as Volume Rises
$IP, the native asset of Story Protocol, is currently trading within an ascending parallel channel on the 1-day timeframe, as observed on MEXC. The price recently closed at $12.509, up 5.82%, backed by rising daily volume of 248.41K, a clear indicator of growing investor interest.
Technically, $IP is well-supported. The 9-day EMA at $10.794 continues to act as dynamic support, closely trailing the price. The 50-day SMA, positioned lower at $7.556, confirms the asset’s strong medium-term uptrend. A retest of either support could present a healthy short-term pullback opportunity.
ATH Breakout Backed by Fundamentals
Fundamentally, Story Protocol is riding more than just a technical wave. The token has rallied over 1148% from its all-time low, and recently entered price discovery mode. As per CoinMarketCap data, $IP is now trading at $12.48, boasting a market cap of $3.74B and a fully diluted valuation of $12.13B.
What’s driving this surge? The protocol has already locked in $39M+ in total value across DeFi applications. Meanwhile, ecosystem projects like Verio have crossed $60M TVL, showing significant traction.
Trading activity is also heating up. Daily DEX volume hovers around $3M, and despite low gas fees (just $84 in chain fees in 24 hours), the network is seeing active on-chain usage—indicating real user engagement rather than speculation.
The project’s circulating supply is 312.66M IP, with an uncapped total supply—something to monitor as future inflation may pose risks if not managed. Still, the community appears confident, with 68% positive sentiment across 21K+ votes, highlighting a strong and growing user base.
What’s Next for $IP?
Story Protocol is emerging as a key force in digital ownership, blending strong technicals, rising adoption, and real on-chain activity. Its focus on empowering creators through decentralized IP tools is striking a chord across Web3.
As long as it holds above key support, the momentum looks strong—hinting at both community trust and long-term potential in a shifting digital landscape.
