No, it is not safe at all to login to many different accounts from the same IP address. It's an easy way to get tracked down and get all your accounts limited or banned. Use different private proxies to access each account.
Thank You for answering, but I don't completely agree:
For example in a university or other wi-fi spot with the same public IP, mass people connect through with different accounts.
So Instagram may ban them all? It has no sense.
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