From your description, and not being able to feel her, I can imagine, based on my own cats.
A history of too much time at the food bowl has produced similar sounding folds that swing and sway with each step.
You may ask your vet if there is another nonsteroidal antiinflammatory that may be substituted for the M-pred. The problem with long term exogenous steroids is that they may interfere with the body's own feedback mechanism with the adrenal glands and cause a condition called Cushings disease, which is more fun to avoid than treat.
Steroids also are appetite enhancing, which she doesn't need.
I hope this answers your questions. If not, ask away...
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