Useless Coin Surges Amid Bearish Crypto Market

Useless Coin has emerged as a surprising outlier in a bearish crypto landscape, surging over 1,700% in June even as broader Solana meme coins and blue-chip tokens like Bitcoin retreat.

Powered by aggressive accumulation from smart money and whales, and supported by thinning exchange balances, the meme coin has hit a $100 million market cap and caught the attention of traders hunting for upside. While momentum indicators now flash caution, Useless Coin’s rise underscores the unpredictable nature of meme-driven markets—and the powerful role of investor sentiment.

Useless Coin Price Surge

Useless Coin (USELESS) token jumped to a high of $0.1092 this week, up by over 1,750% from its lowest level in June. The token price jumped even as the crypto market crashed, with Bitcoin (BTC) falling from a record high of $111,900 in May to $103,000. Most Solana (SOL) meme coins have dropped this month, with their market capitalization falling from over $15 billion earlier this month to $9 billion.

Nansen data shows that smart money investors have been buying the coin aggressively. They purchased Useless tokens worth over $94,000 in the last 24 hours, holding over 14 million tokens, a 97% increase from the same period last month. Whales have similarly increased their exposure by over 36% in the last 30 days to over 338 million tokens.

Useless Whale Accumulation

Source: Nansen

Smart money and whale accumulation is a positive catalyst for an asset, as it indicates expectations of upward price movement. Further data shows that exchange balances have dropped by over 16% in this period to 51.8 million.

Useless Coin Price Technical Analysis

Source: TradingView

The four-hour chart shows that the Useless token price has surged from a low of $0.005460 to a record high of $0.1095. It has formed an ascending channel and remained above the 50-period moving average.

However, there are signs that this momentum may be ending. The Average Directional Index (ADX) has plunged from a record high of 70 to 20, indicating a weakening trend. The MACD and the Relative Strength Index have also formed a bearish divergence pattern, suggesting a potential retreat. Thus, the coin may drop to the support level at $0.50 as traders start to book profits.

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