USELESS Coin Rides the Degen Wave

Key Takeaways

• USELESS Coin has no utility but has hit over $100M market cap.

• Influencers like Unipics are fueling the hype.

• Holder distribution is surprisingly healthy, top wallet holds just 2.8%.

• Recent Crypto.com listing has boosted exposure.

• Technical indicators show bullish momentum, but some caution is advised.

Degens Don’t Need a Reason: USELESS Coin’s Meteoric Rise

Imagine someone DM’ing you a meme coin named USELESS. No whitepaper. No promises. Not even a fake roadmap. For normies, it’s a hard pass. For degens? It’s the alpha signal.

In true degen fashion, USELESS Coin’s launch saw zero fundamentals, just blind momentum. And yet, it outperformed bigger meme contenders like SPX6900 and even FARTCOIN with a 70% gain last week alone.

USELESSS Holder Distribution

Source: Nansen

Even as most altcoins bled red, USELESS remained resilient, dropping just 11% after hitting an all-time high of $0.15, currently trading at $0.13.

BONK Déjà Vu: The Unipics Factor

The hype behind USELESS isn’t random, it’s largely powered by Unipics, better known as the “BONK guy” on X.

On June 11th, Unipics compared USELESS to PEPE when the token was still under $50 million in market cap. Soon after, a market-wide correction (triggered by Israel’s strike on Iran) dragged major assets like BTC, ETH, and SOL into the red.

But USELESS? It held firm, and that resilience ignited belief, and more importantly, buying.

Tokenomics Breakdown: Is It Really USELESS?

Decentralized Degeneracy?

Despite its ironic branding, USELESS Coin has relatively fair distribution. Data from Nansen shows:

• Top holder: 2.82% of total supply.

• Second holder: Similar share.

• Top 100 wallets: Hold 51% collectively.

While this means whales still hold power, no single wallet can crash the party alone. Even better, these whales have added over 556 million tokens in the past 30 days, a bullish sign.

Meanwhile, the average wallet holds about $153.62, indicating wide retail participation.

Trading Volume On The Rise

Crypto.com recently listed USELESS, its first top-10 exchange listing. This echoes BONK’s journey: a big CEX debut right before liftoff.

Volume data from Santiment shows a spike, aligning with price momentum. If trading activity continues climbing, a new all-time high could be just around the corner.

USELESS Trading Volume

Source: Santiment

Technical Analysis: Path To $0.20 Or Pullback?

On the 4-hour chart:

• Bull Bear Power (BBP) is positive, bulls still control the trend.

• Chaikin Money Flow (CMF) remains below zero, a potential warning sign.

Short-Term Outlook:

• Bullish scenario: Breakout to $0.15, then $0.20

• Bearish case: CMF fails to confirm, price may drop to $0.11

FAQ

What is USELESS Coin?

USELESS is a Solana-based meme coin with no utility, no roadmap, and no fundamentals. It’s driven by community hype and social media.

Why is it gaining traction?

The coin gained popularity through meme culture and endorsements from major influencers like Unipics, who also promoted BONK.

Is USELESS Coin a scam?

There is no evidence it’s a scam, but like all meme coins, it’s highly speculative. Investors should do their own research.

Can it still go higher?

If volume continues rising and sentiment holds, the price may push past $0.15 toward $0.20. But it’s volatile and not for the faint-hearted.