$LOOKS $LOOKS Some people have been constantly calling LOOKS down, but every behavior in the market actually has a purpose.

If this coin still had futures contracts, the logic would hold—they could short it while spreading negative sentiment to suppress the price. But now that LOOKS no longer has futures contracts, simply calling for a price drop without corresponding shorting tools is worth questioning their motives.

Looking at the current on-chain data from another angle:
Continuous outflows from exchanges, major holders continuously transferring chips into cold wallets to accumulate.

Even more so, ancient whale wallets are locking positions without movement.

What does this usually indicate?
It indicates someone is quietly accumulating chips, not dumping them.

So rather than saying they're bearish, it's more accurate to say—
They're manufacturing panic, trying to get cheaper, even blood-soaked chips at better prices.