Most of the whales on crypto have an inside trading knowledge due to the small community of crypto projects. Mostly these whales are part of the team or have a connection to the team that has knowledge on when they will release good news to hype the public.
Following what’s whale buying especially on early stage of the token market is a nice pattern to do when you are trading on spot because no one will invest huge amount of money on unknown without a solid info about this specific token.
The trouble with whales is that they do not announce it, and most people are just trying to catch up and fail and that is why they make mistakes and lose money and all that. This is why I think it's quite important to make sure you know what you are doing and not making mistakes. Most people end up making mistakes and they are not dealing with much on the long term.
If you really want to get some good returns, then you should be avoiding most of these and try to get better returns for yourself. Obviously this isn't easy, and obviously this takes time, but no matter how much time it takes, you should be able to actually do some great jobs with it. If you can, then you are not to worry and you are going to get great returns.