Recently, when watching whale addresses, someone else shouted "Follow and copy the trades," I just look to see if they are building a position or hedging: whether there are opposite positions at the same time, whether on-chain funds are just circling back to exchanges, or if they are buying protective assets while going long... Otherwise, you might think they are getting on the train, but actually they are buying a seatbelt for themselves.

Later, I thought it was quite funny—retail investors love to treat "smart money" as the ultimate answer.
By the way, this period's social mining and fan token schemes, the "attention equals mining" approach, are lively, but attention can also be the cheapest liquidity.
Before entering, ask yourself: who is cashing out, who is taking the other side.
That's all for now.