2025-12-27 22:26:47

The valuation gap is wild right now—some projects are getting priced like they're the next big cultural phenomenon, but the fundamentals don't quite match the hype. White Whale is a solid case study here: seeing it valued above some of the most recognized assets in the space raises eyebrows. It makes you wonder what's really driving these numbers—is it pure speculation, community strength, or are we pricing in features that haven't shipped yet? Either way, the market's clearly in a mood where narrative sometimes outweighs narrative.

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GhostAddressMiner

· 12-28 15:40

Looking at White Whale's valuation... really, on-chain footprints can tell you the story. The early address fund flows have long been exposed. --- To put it simply, it's an narrative premium, but look at those dormant wallets' recent abnormal trading patterns—funds are migrating, and I have some doubts. --- The overvaluation issue depends on the distribution of holdings in the original addresses. The higher the concentration, the more suspicious; when it dips, you'll know. --- Pricing before the functionality is even launched, I've seen this pattern many times. Contract vulnerabilities haven't been fixed, but the money has already moved off-chain. --- It's purely driven by community enthusiasm, but on-chain signals don't lie. Some big players are quietly reducing their positions; you just haven't seen it.

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Degentleman