The post Story IP Price Bounces Back, Will the Rally Sustain? appeared first on Coinpedia Fintech News
Story IP has made a comeback after a turbulent week, catching the attention of crypto traders everywhere. The token surged 11.8% overnight to $9.62, recovering losses from its steep 29% decline from the September 22 all-time high of $14.89. Its market cap now stands at $3.01 billion, with daily trading volume soaring by over 42% to $235.5 million. It is worth noting that both retail activity and ecosystem news are shaping this sudden turnaround.
Why is IP Price Up Today?
The main driver behind the rebound is retail trading. Many smaller investors jumped on the dip, pushing volumes higher. As per CryptoQuant, retail traders now dominate activity, with a slightly bullish tilt reflected in the Long/Short ratio of 1.03.
On the development side, Story IP has been boosted by its Origin Summit partnership with Verse8. The deal introduces Moonbirds and Azuki IP into AI-powered gaming experiences. While the direct revenue impact is still modest, the news has sparked excitement across social platforms and revived interest in the token.
That weakness is clear when looking at numbers: protocol revenue is only $679 a day, far below what you’d expect for a project valued at $3 billion. This imbalance highlights just how speculative current trading is, meaning volatility is likely to stay high.
Story IP Price Analysis
Looking at things from a technical lens, the token has reclaimed its 30-day SMA at $9.62. This signals some potential for more gains if momentum continues. A bullish divergence in the RSI also suggests the token was oversold and is now bouncing back. However, still, bearish signs remain, as the MACD is in negative territory at -0.445, and the 7-day RSI sits at a muted 42.7.
Key levels to watch are $9.37 on the downside and $10.42 on the upside. If Story IP price holds above $9.37 and breaks through $10.20, the door could open for further upside. But if it slips below support, the next stop may be $7.86.
FAQs
Retail traders bought the dip after a 51% drop from its all-time high, sending volume higher and lifting the price.
It depends on whether whales and institutions step in. Without them, volatility will remain high.
Ecosystem news, like the Verse8 gaming collaboration, boosts sentiment and retail buzz, even if revenue impact is still limited.