IP price hits new ATH amid Heritage Distilling’s treasury expansion
IP price surged to a record $11.75 as Heritage Distilling expanded its token holdings and launched a strategic buyback program, fueling strong investor interest.
- IP price set a new ATH of $11.75 and is eyeing the $13.50–$14.00 range as the next target.
- Heritage Distilling’s $220 million PIPE financing and public IP token treasury, now totaling over 53 million tokens, underpin the recent IP price gains.
- The ongoing $82 million open-market buyback by Story Foundation is expected to provide further support for IP price in the coming months.
IP price technical analysis
Story Protocol (IP) price set a new ATH of $11.75 yesterday on strong volume and is currently pulling back from overbought levels, but still holding the majority of yesterday’s gains, trading around $10.20 at press time.
The previous ATH around $9.10, set in late August, now acts as a key reference point. However, the broader support zone sits lower, between $8.20 and $8.60, where multiple candle bodies previously topped out and which also coincides with the 0.382 Fib. This area is likely to be the stronger support for the next pullback.
If the $8.20–$8.60 zone fails to hold, the next levels of interest lie around $7.50 (SMA 20), followed by the deeper support near $6.50, which also lines up with the 0.618 Fib.
On the upside, a retest of the $11.75 ATH remains the immediate target. A clean breakout above that level with strong volume could open the way toward the $13.50–$14.00 range, derived from the measured move of the prior rally leg, with $15.00 standing out as a psychological barrier further ahead.
What’s driving IP price?
The recent surge in IP price stems from Heritage Distilling’s August 11 announcement of a $220 million PIPE financing and the establishment of a public IP token treasury — the first initiative of its kind by a Nasdaq-listed company. As part of the deal, $82 million was used to purchase IP tokens directly from Story Foundation at roughly $3.40 per token.
On August 25, Heritage has expanded its IP holdings to over 53 million tokens, increasing its treasury to $320 million. As part of the ongoing strategy, the Story Foundation began its $82 million open-market buyback program on August 15, running through Nov. 16.
You May Also Like
Michael Saylor Pushes Digital Capital Narrative At Bitcoin Treasuries Unconference
US Fed Slashes Interest Rates by 25 BPS: How Will Bitcoin’s Price React?
