IP Token surges 25% in 24 hours, Asian capital-driven trading volume soars 789%, but technical signals warn of an imminent correction

【Crypto World】Story Protocol’s IP token has recently gained popularity amid a stable market environment, with a 24-hour increase of 25%, marking the largest single-day rise in weeks. The driving force behind this surge is none other than the exuberant trading enthusiasm—24-hour trading volume soared to $157 million, a 789% increase compared to the previous period. This wave of enthusiasm mainly originates from the Asian market, with South Korea’s Upbit exchange contributing the most, accounting for nearly 45% of the trading volume.

However, behind the aggressive upward trend, there are hidden risks. From a technical perspective, the market is currently bullish, which sounds promising, but the details are somewhat concerning: the Money Flow Index (MFI)( broke above 90, entering the overbought zone; combined with the Open Interest Weighted Ratio (OWR)) showing a negative value of -0.1638, indicating that selling pressure is accumulating. Overall, while this rally is strong, it is likely to undergo a period of consolidation or even a pullback before continuing upward, and the profit-taking pressure should not be underestimated.