Is MORPHO Set to Drop to $2? The Tragic Tale of Crypto’s Rollercoaster

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Key Takeaways

Ah, the eternal dance of the crypto market: whale transfers of MORPHO tokens paired with unexpected spikes in age consumed. It’s as if the gods themselves are suggesting we prepare for a price dip to $2. How delightfully inevitable.

Morpho [MORPHO] has been creeping upwards since April, like a slow, reluctant tide, rising 154% in five months. However, it still lingers 48% below its glorious, mythical peak of $4.17 back in January-ah, the memories of better days.

In the past 24 hours, a tidy sum of $2 million worth of Morpho was sent to the centralized exchange Bybit. This transfer represented 0.3% of the asset’s market cap, which was $723 million at the time. A rather neat chunk, wouldn’t you say?

Ah, but let’s not get too comfortable. Transfers to exchanges often signal that someone’s looking to part with their treasures. Could this be the first ominous sign of an impending price pullback? Only time will tell, though I wouldn’t bet on it being kind.

AMBCrypto’s own investigation into the on-chain metrics showed healthy activity, but with just enough of a whisper of caution to make one wonder: Should we brace for impact?

Morpho Accumulation Resumes in September

The supply distribution chart tells its own story, doesn’t it? From mid-July to mid-August, sharks and whales holding 10k-1M MORPHO tokens unloaded a decent chunk. The once-untouched reserves of these noble beasts began to dwindle.

But fear not! During this month-long retreat, other MORPHO holders, from the humble shrimp to the mighty whale, continued to accumulate. The buying pressure was palpable, an encouraging sign for those daring enough to look beyond the horizon.

Network activity, meanwhile, trundled along in its usual manner, with daily active addresses seeing a jump in July. This newfound baseline held strong in the months that followed. The number of new addresses joining the network also remained steady. How quaint, how optimistic.

Despite this, the age of MORPHO tokens held in wallets began to take on a more ominous tone. The Mean Coin Age-oh, that fickle beast-failed to trend in any meaningful direction over the past two weeks. How convenient!

The Age Consumed metric, however, has been seeing sporadic, sharp spikes since August 22nd. A clear sign that previously dormant tokens are being stirred from their slumber. And one can only assume these tokens are being moved with the intention to sell.

In the past three days, this uptick continued, confirming the suspicion that Morpho may face short-term selling pressure. Hold your breath, folks.

The liquidation heatmap offers some relief, or perhaps more cause for anxiety, depending on your perspective. There’s a powerful liquidity pocket at $2.23, hovering just overhead like the sword of Damocles. To the south, the psychological support at $2 could be a key turning point. Should the market dip, it could offer a tempting opportunity for those bold enough to risk it.

And should the price soar beyond $2.23-$2.28, well, then we may find ourselves on a rather unexpected bullish trajectory. Oh, the thrill!

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2025-09-14 00:10