A couple of days ago, someone sent me a bunch of charts labeled "Smart Money Tags" and "Whale Address Clustering," urging me to follow along... After looking at them, I only had one feeling: they can be referenced, but don’t treat them as gospel. Address profiling, in simple terms, is about guessing identities based on behavior, but on-chain, there's no shortage of ways to disguise yourself—pretending to be what you want to see, splitting transactions across multiple exchanges, or even different groups of people working on different chains. Tags are easily misapplied.

I’ve also fallen into this trap once: I couldn’t understand it but still tried to follow, and when I saw a certain address buying repeatedly, I jumped in a bit. Turns out, it was the project team doing liquidity or market-making activities, not because they were bullish. Anyway, I didn’t lose much that time, but it was pretty awkward. Since then, I set a simple rule for myself: if I don’t understand it, I don’t act. Better to miss out.

Recently, the economic collapse points in chain games seem quite similar. When inflation kicks in, studios enter the scene, and the token price spirals. The on-chain "fund flow" looks lively, but in reality, it’s just sell pressure lining up. No matter how pretty the chart, don’t forget to ask: are these funds here for the long term, or just to cash out and leave? If you can’t clarify this, then tags are just gossip to look at.