I think the chart in this post Tresiba-how-do-I-calculate-my-daily-dose shows that there are small peaks and valleys, they’re just not as pronounced as you might experience with 1 daily dose of Lantus.
Since I’m not dropping low when I take my dose, this chart actually lines up pretty well with what I’m experiencing. My guess is that some people react differently to the insulin so the peaks or valleys might be more pronounced for them. I’m hoping that won’t happen for me 
, but we’ll see.