Just saw some on-chain data: a small whale address is making large purchases of a certain fan token. To be honest, I’ve heard a lot about social mining and “attention equals mining” over the past couple of years, but I’ve always felt it’s a bit hollow—can attention really be used to make ends meet? In the end, it depends on how the project team plays it.

Anyway, I prefer to start by checking whether the whales are hedging. For example, some large transfers are actually hedges or locked-in positions—not a genuine sign of conviction. I’ve set a rule for myself: when I see big on-chain transfers, first check whether they’re hedging trades; don’t rush to follow. Every time I feel tempted to jump in, I think about those cases where people got blindsided by a callback and completely got wrecked—forget it. I’ll stay cautious.