毛皮價格變動可能與資產本身一樣動盪

加密貨幣價格變動可能與資產本身一樣動盪。最近，一個最近達到交易者興趣的代幣是$ fur，它在大型升級後見證了大量下降。

"Cryptocurrency price movements can be as turbulent as the assets themselves. One token that has recently peaked the interest of traders is $FUR, which has witnessed a hefty drop after a big run-up.

“加密貨幣的價格變動可能與資產本身一樣動盪。一個最近達到交易者興趣的代幣是$ fur，在大型升級後，它目睹了大量下降。

And this is despite all of the notable price action (SFUR went up quite dramatically before coming down just as quickly) and the real reasons for this sort of price action are obviously not clear, but the usual suspects—social media hype, dished out with a side of FOMO, seems to be driving the $FUR train for now.

儘管如此，儘管所有值得注意的價格動作（SFUR在迅速下降之前急劇上升了），而且這種價格行動的真正原因顯然不清楚，但是通常的嫌疑犯 - 社交媒體炒作，以FOMO的一面脫穎而出，似乎正在駕駛$ fur Train。

suggest that the recent performance of $FUR presents an important lesson in the crypto space: hype alone cannot sustain a token’s price. The coin, which has seen a sharp drop after its earlier surge, now faces a challenging road ahead. On the price chart, a bearish engulfing pattern on the 4-hour chart at the time of writing on Thursday morning may indicate the possibility of a reversal while the Relative Strength Index (RSI), which compares the magnitude of recent price gains to recent price losses, currently indicates that the asset is oversold. This shows that an upward price movement, or a rebound, could be on the horizon. However, while these two indicators present a somewhat favorable situation looking forward, the Moving Average Convergence Divergence (MACD) is still bearish and hints that the downward momentum might not be over just yet.

建議$ fur的最近表現在加密空間中提供了重要的教訓：僅炒作就無法維持代幣的價格。這枚硬幣在較早的激增後看到了急劇下降，現在面臨著一條挑戰性的道路。在價格表上，在星期四上午寫作時，在4小時圖表上的看跌吞沒模式可能表明可能發生逆轉，而相對強度指數（RSI）將最近的價格上漲的幅度與最近的價格損失進行了比較，目前表明該資產超出了資產。這表明上升的價格移動或反彈可能會出現。但是，儘管這兩個指標表現出一個有利的情況，但移動平均值收斂差異（MACD）仍然是看跌，並暗示下降的動力可能還沒有結束。

Even with apparent technical signs, the falling price of $FUR highlights a grimmer reality: the cryptocurrency market is now largely impacted by the same big players and social media forces that are increasingly affecting the stock market.

即使有明顯的技術標誌，$ fur的價格下跌也突出了一個嚴峻的現實：現在，加密貨幣市場受到了越來越多地影響股票市場的大型參與者和社交媒體部隊的影響。

The $FUR situation underscores this crucial point: Market moves are really made by large, well-advanced, and well-capitalized players—what some call “smart money.” Without the involvement of these “big boys,” market moves that are supposedly driven by social media hype or Twitter FOMO can go only so far.

$ fur的情況強調了這個關鍵點：市場移動確實是由大型，精美且資本良好的球員所做的，這稱為“聰明的錢”。如果沒有這些“大男孩”的參與，據稱是由社交媒體炒作或Twitter Fomo驅動的市場舉動只能到目前為止。

The Power of Hype Versus the Impact of Smart Money

炒作的力量與智能金錢的影響

$FUR has become a hot topic on Crypto Twitter in the past few months, with many users now switching to the token’s logo as their profile picture. This was all supposed to lead into a price rally for $FUR, given that we have seen similar situations play out where a social media event pushes the price of a cryptocurrency up. But here we are, a few weeks past the peak of the $FUR hype cycle, and not only is the price down, but $FUR also seems to be in a bit of freefall.

在過去的幾個月中，$ Fur已成為加密Twitter上的熱門話題，現在許多用戶切換到令牌徽標作為個人資料圖片。鑑於我們已經看到類似的情況在社交媒體活動推動加密貨幣的價格上漲的地方，這一切都應該導致$ fur的價格集會。但是在這裡，我們已經距離$ fur炒作週期的高峰幾週了，不僅價格降低，而且$ fur似乎也有些自由落體。

This isn’t just from the recent top, either; when we look at the situation from the past few months, it’s clear that the price serves as a pretty decent indicator of the supposed “interest” in a token.

這也不只是最近的頂級。當我們看過去幾個月以來的情況時，很明顯，價格是代幣中所謂的“興趣”的相當不錯的指標。

This emphasizes a shared occurrence in the cryptocurrency market: the focus on Crypto Twitter is frequently of short duration. Even though the platform is a center of gravity for crypto discourse and has—in some instances—helped spur certain tokens to newfound prominence, its influence barely registers in the space-time continuum of the average crypto investor. The same users who blast off tweets about the next “big thing” can, with just as much volume and intensity, move on to the next trend. And for coins that barely existed before and are totally reliant on hype, these phenomena aren’s exactly great for investors.

這強調了加密貨幣市場中的共同發生：對加密twitter的關注通常持續時間很短。即使該平台是加密話語的重心，並且在某些情況下（在某些情況下）刺激了某些令牌，但其影響力在平均加密投資者的時空連續體中幾乎沒有註冊。爆炸有關下一個“大事”的推文的用戶可以隨著同樣多的音量和強度的發展，轉向下一個趨勢。對於以前幾乎不存在並且完全依賴炒作的硬幣，這些現像對投資者來說是偉大的。

Smart money, not online communities, drives long-term price movement. Who is smart money? It’s substantial investors like hedge funds, institutional players, and crypto whale investors. They have the resources to cause significant price shifts, meaning their moves are more directly felt in the market. They also tend to take a more calculated, long-term approach, using the types of fundamental analysis that many in the crypto space regard as antiquated. And when they move, they certainly can (and do) use social media as a cover. In their absence, lights set on a price increase driven by social media attention become more ephemeral.

聰明的錢，而不是在線社區推動長期價格變動。誰是聰明的錢？它是對沖基金，機構參與者和加密鯨魚投資者等大量投資者。他們有造成重大價格轉移的資源，這意味著他們的舉動更直接地在市場上感受到。他們還傾向於使用加密貨幣空間中許多基本分析的類型，以更加經過計算的長期方法。當他們移動時，他們當然可以（並且確實）使用社交媒體作為掩護。在他們缺席的情況下，由於社交媒體關注而推動的價格上漲的燈光變得更加短暫。

This principle lies at the very heart of FUR’s recent problems. Despite the enthusiasm displayed on Crypto Twitter, we haven’t seen any sizable investments from either institutional players or crypto whales that would provide the token with the kind of price support you would expect in a healthy market. Without that price support, there doesn’t seem to be much of a reason for anyone to be feeling FOMO (fear of missing out), and as a result, we don’t seem to have much in the way of a sustained uptick in the token’s price.

該原則在於Fur最近問題的核心。儘管Crypto Twitter上表現出熱情，但我們還沒有看到機構參與者或加密鯨魚的大量投資，這些投資可以為代幣提供您在健康市場中期望的價格支持的類型。沒有這種價格支持，似乎任何人都不會感到FOMO（害怕錯過），結果，我們似乎並沒有太多在代幣價格上持續上漲的方式。

A Market Cap Decline and Dwindling Holder Base

市值下降和持有人基礎的下降

Long-term backing from big-name investors has been lacking, and it shows in the current state of $FUR. Right now, the token has a market cap of a little under half a million dollars—462K, to be exact—which is down almost 93% from its all-time highs of about 7 million dollars in early 2022. This cap does not inspire confidence, and it’s evident in the now 3

大牌投資者的長期支持一直缺乏，它顯示出$ fur的現狀。目前，代幣的市值略低於一百萬美元（確切地說是462K），其比2022年初的歷史最高點約700萬美元下降了近93％。這帽並沒有激發人們的信心，並且顯而易見，它在現在的3次中很明顯