Can I get into an Ivy League without outstanding extracurriculars?

My test scores are definitely in the top but I’m not sure if they are enough since my extracurriculars are lacking. My GPA is 3.94 and I have scored 5s on all my AP exams so far. I did very well but not perfect on this year’s (junior year) PSAT (will qualify for national merit). I have yet to take SAT and ACT but will do so very soon and I am aiming for 2250+ and 34+. Other than these stats and other similar items, I don’t have much going for me. By college apps time I hope to have 400 hours in volunteering (4 different places) and I would like to get an internship this summer. I have not participated in any high school sports (track when I was young but I don’t think that’s significant) and have never been involved in music. I am on an national award-winning yearbook staff at my school but I have not won any individual awards. I’m involved in a couple of clubs but not ones that compete or earn recognition. Will my lack of awards from extracurriculars and overall involvement drastically lower my chances?

Schools want to avoid grinders who get good grades and scores by doggedly pursuing them and nothing else. If you have other activities that have occupied your time, that helps show that you are not a grinder and you could be involved in college activities while also getting decent grades.

Without “pop” to your ECs (unusual ECs, preferably with high levels of accomplishment) it will hurt you for the very top schools. You don’t say what schools you are looking at (“Ivies” are a sports league, and the schools vary in character and a bit in selectivity), but you should still have a lot of good choices. Look for fit, strength in your major, affordability – prestige should be pretty far down in your list.

There are some top schools that are known to be friendly to students with top stats (34+ ACT) and “weaker” ECs, like Chicago, Vanderbilt, and WashU.

Can you? Technically, yes. But will you? Most likely no.
Every Tom, Dick, and Joe has a 2400 and a 4.0 GPA these days. That’s not what sets you apart anymore. 29,000 people apply to these colleges; 2000 are accepted. And you better believe that 20,000 of those 29,000 have scores just as good, if not better, than yours.
I’m not trying to tear you down or anything. I understand that getting good grades is difficult, but the top schools - the Ivies - want to see that you can get straight A’s AND do everything else. No, you don’t have to cure cancer, but you have to show passion for something that sets you apart. And they want continuous passion. There has to be something you’re interested in. What do you do in your spare time? Even if it’s something as simple as volunteering at a local animal shelter, pounce on that, and get an internship related to animal welfare.
You asked if it will drastically lower your chances. Yes, it will. But Ivies are not the only good schools in the US and certainly not the best for certain majors. Certain UCs are friendly to high scorers. Good luck.