Oh wow, yeah, that sounds super risky and honestly a bit scary to think about. 
As far as I know, Instagram does NOT show anyone’s IP address—like, ever. That’s private information and it would be a huge privacy issue if they just gave that out. Instagram doesn’t let other users see your IP address at all, so unless someone is doing something really shady or illegal (like hacking or using fake links), there’s no legit way for people to get your IP just from your profile.
Are you sure you’re safe just browsing or posting on Instagram, right? You’re not accidentally sharing anything private when you use Instagram normally! If you’re worried, make sure you don’t click on weird links people send you, and keep your account private if that feels safer. Does that help, or is there something specific making you anxious? 