IP Token Shatters ATH Record as Heritage Distilling Doubles Down on Treasury Strategy

Another day, another crypto moonshot—but this one's backed by actual barrels.

Heritage Distilling just turbocharged its treasury with IP tokens, sending the price into uncharted territory. The distillery's move signals a growing trend of traditional businesses leveraging crypto for treasury management—because why hold boring old cash when you can have volatile digital assets?

The token's surge comes amid broader institutional adoption, though skeptics whisper about the sustainability of distillery-backed crypto. Still, the market's voting with its wallet—and apparently, it's thirsty.

One finance traditionalist muttered, 'Guess they're distilling more than whiskey now'—but hey, returns are returns, even if they're liquid.

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.

On August 15, 2025, Nasdaq: $CASK officially closed the PIPE financing to establish a treasury strategy focused on $IP.

As promised, the Story Foundation will carry out the $82M buyback program on the open market, running through November 16, 2025. The 90-day window began on… https://t.co/e031WOEtW4