Today I came across a bunch of screenshots of "Whale addresses bought xxx, follow along!" I really want to roll my eyes… Just open those tx hashes and you'll see, many of them are not actually building positions, but hedging/arbitraging/rotating positions back and forth. To put it simply, the whale's money isn't necessarily betting on the direction, it might just be betting on volatility. When you copy their trades, you're following their risk control, not their conviction.

Actually, now social mining and fan tokens are pretty much the same. Attention is treated like mining machine electricity costs, everyone is busy screenshotting and sharing, and in the end, "seeing" is mistaken for "understanding." Anyway, my current habit is: first scroll through the timeline, check related addresses and flow paths, confirm it's not just moving funds from left to right, then consider whether to act. Otherwise, you'll just become a liquidity provider.