毛皮价格变动可能与资产本身一样动荡

加密货币价格变动可能与资产本身一样动荡。最近，一个最近达到交易者兴趣的代币是$ fur，它在大型升级后见证了大量下降。

"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.

“加密货币的价格变动可能与资产本身一样动荡。一个最近达到交易者兴趣的代币是$ fur，在大型升级后，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.

尽管如此，尽管所有值得注意的价格动作（SFUR在迅速下降之前急剧上升了），而且这种价格行动的真正原因显然不清楚，但是通常的嫌疑犯 - 社交媒体炒作，以FOMO的一面脱颖而出，似乎正在驾驶$ 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.

建议$ fur的最近表现在加密空间中提供了重要的教训：仅炒作就无法维持代币的价格。这枚硬币在较早的激增后看到了急剧下降，现在面临着一条挑战性的道路。在价格表上，在星期四上午写作时，在4小时图表上的看跌吞没模式可能表明可能发生逆转，而相对强度指数（RSI）将最近的价格上涨的幅度与最近的价格损失进行了比较，目前表明该资产超出了资产。这表明上升的价格移动或反弹可能会出现。但是，尽管这两个指标表现出一个有利的情况，但移动平均值收敛差异（MACD）仍然是看跌，并暗示下降的动力可能还没有结束。

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.

即使有明显的技术标志，$ fur的价格下跌也突出了一个严峻的现实：现在，加密货币市场受到了越来越多地影响股票市场的大型参与者和社交媒体部队的影响。

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的情况强调了这个关键点：市场移动确实是由大型，精美且资本良好的球员所做的，这称为“聪明的钱”。如果没有这些“大男孩”的参与，据称是由社交媒体炒作或Twitter Fomo驱动的市场举动只能到目前为止。

The Power of Hype Versus the Impact of Smart Money

炒作的力量与智能金钱的影响

$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.

在过去的几个月中，$ Fur已成为加密Twitter上的热门话题，现在许多用户切换到令牌徽标作为个人资料图片。鉴于我们已经看到类似的情况在社交媒体活动推动加密货币的价格上涨的地方，这一切都应该导致$ fur的价格集会。但是在这里，我们已经距离$ fur炒作周期的高峰几周了，不仅价格降低，而且$ fur似乎也有些自由落体。

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.

这也不只是最近的顶级。当我们看过去几个月以来的情况时，很明显，价格是代币中所谓的“兴趣”的相当不错的指标。

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.

这强调了加密货币市场中的共同发生：对加密twitter的关注通常持续时间很短。即使该平台是加密话语的重心，并且在某些情况下（在某些情况下）刺激了某些令牌，但其影响力在平均加密投资者的时空连续体中几乎没有注册。爆炸有关下一个“大事”的推文的用户可以随着同样多的音量和强度的发展，转向下一个趋势。对于以前几乎不存在并且完全依赖炒作的硬币，这些现象对投资者来说是伟大的。

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.

聪明的钱，而不是在线社区推动长期价格变动。谁是聪明的钱？它是对冲基金，机构参与者和加密鲸鱼投资者等大量投资者。他们有造成重大价格转移的资源，这意味着他们的举动更直接地在市场上感受到。他们还倾向于使用加密货币空间中许多基本分析的类型，以更加经过计算的长期方法。当他们移动时，他们当然可以（并且确实）使用社交媒体作为掩护。在他们缺席的情况下，由于社交媒体关注而推动的价格上涨的灯光变得更加短暂。

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.

该原则在于Fur最近问题的核心。尽管Crypto Twitter上表现出热情，但我们还没有看到机构参与者或加密鲸鱼的大量投资，这些投资可以为代币提供您在健康市场中期望的价格支持的类型。没有这种价格支持，似乎任何人都不会感到FOMO（害怕错过），结果，我们似乎并没有太多在代币价格上持续上涨的方式。

A Market Cap Decline and Dwindling Holder Base

市值下降和持有人基础的下降

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

大牌投资者的长期支持一直缺乏，它显示出$ fur的现状。目前，代币的市值略低于一百万美元（确切地说是462K），其比2022年初的历史最高点约700万美元下降了近93％。这帽并没有激发人们的信心，并且显而易见，它在现在的3次中很明显