Useless Coin (USELESS), a LetsBONK fun memecoin, soared to an all-time high price of $0.10 yesterday. This milestone was fueled by a remarkable quadruple-digit rally from early June.
The surge also pushed its market capitalization to over $100 million before it experienced a correction.
Is Useless Coin the Next Big Meme Coin to Watch on Solana?
According to the official website, USELESS is a meme coin with no stated utility. Launched just over a month ago through LetsBONK Fun, a meme coin launchpad on the Solana (SOL) blockchain, the coin has no roadmap or whitepaper, relying solely on its satirical concept.
In early June, USELESS reached an all-time low (ATL) of $0.004. However, the coin quickly rebounded, with a significant upward rally, culminating in a new all-time high (ATH) of $0.10. This surge pushed its market capitalization to $101.9 million.
“USELESS is up over 2,000% from the lows earlier this month and has outperformed every top memecoin this month, including DOGE, SHIB, PEPE, SPX, FARTCOIN ,and WIF,” a user posted.
As of press time, USELESS had retraced some gains, trading at $0.080. Despite this dip, the price remained up by 15.2% over the past 24 hours.
Moreover, its weekly gains also stood strong at 487.5%. CoinGecko ranks it among the top six trending tokens today, with 85% of market sentiment still leaning bullish.
The meme coin has also seen a substantial increase in trading volume, reaching $23.22 million—a 60.8% rise from the previous day. This highlighted strong trading activity and interest.
Additionally, USELESS now has around 12,480 holders. Notably, one holder is sitting on an unrealized profit of over $2 million due to USELESS’s rise.
According to Lookonchain data, a Bonk community figure, Unipcs, bought 2.8% of the supply, or 28.08 million tokens. The whale acquired these USELESS tokens for $381,900.
Based on the meme coin’s recent valuation, the position is now worth over $2.3 million. Additionally, the trader has not sold any of the tokens yet.
“I only have the kind of strong conviction I have exhibited about USELESS coin because I genuinely believe it is the strongest memecoin narrative to emerge from the trenches this year, and one of the strongest memecoin narratives ever,” Unipcs stated.
While the whale has seen substantial gains from USELESS, the blockchain analytics platform revealed that the trader’s overall wallet remains in the red. Out of the 48 tokens he’s invested in, 44 are currently at a loss.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Be the first to comment