I tried once, seeing a whale address on the chain making a large purchase, and I got tempted to follow.

But half an hour later, the price didn't move, and it was just covering the same position in another pool...
Basically, they might be hedging or repositioning, not building a position for a surge.
Later, I learned my lesson: first check if they are adding in batches, whether they are opening opposite positions at the same time, and if the funds are taken out from a CEX and held long-term;
If they buy while also putting margin into derivatives, I basically treat it as noise.
Recently, some people are using ETF fund flows and US stock risk appetite to rigidly explain price movements, which I find annoying.
Narratives are narratives—before copying trades, at least distinguish between "adding to positions" and "saving your life," or you're just providing liquidity for others.
Anyway, I now prefer slowly accumulating on Layer 2, rather than paying tuition on the mainnet.