Your IP address is completely separate from your domain name or the URL of your site. The Internet Protocol address is a sequence of numbers assigned to every device that accesses the Internet. Whereas your domain is essentially your website’s address; a location where your website can be found on the Internet.
In addition to computers and mobile devices, servers have unique IP addresses. However, on a shared hosting where many sites all reside on the same server, every one of the hosting accounts on that particular will have the same IP address. It is perfectly fine to have a shared IP, but IP blacklist from any site on the server could cause your website to go down.
whether its for better search engine optimization (SEO), Security or to get an SSL certificate on your site, a dedicated IP can be helpful. for certain type of websites, a dedicated IP address is a must.