Lately I've been looking at various "tagged addresses" and "smart money clustering," to be honest, they can only serve as references, not as directives. On-chain behavior indeed leaves traces, but many addresses can be split, rented, or bulk "farmed" by studios. The more detailed the profiling, sometimes the easier it is to be exploited in reverse. The collapse points of those blockchain games are quite similar: when inflation kicks in, studios enter the scene, the token price starts to spiral, active addresses look great, but once you dig into the actual income, it all reveals the truth.