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 (USELESS) token jumped to a high of $0.1092 this week, up by over 1,750% from its lowest level in June.
Useless 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. Data shows that its smart money investors bought Useless tokens worth over $94,000 in the last 24 hours.
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These investors now hold over 14 million tokens, a 97% increase from the same period last month. Similarly, whales have increased their exposure by over 36% in the last 30 days to over 338 million.
Useless whale accumulation | Source: Nansen
Smart money and whale accumulation is a good catalyst for an asset because it is a sign that they expect the price to keep going upwards. Further data shows that the exchange balances have crashed by over 16% in this period to 51.8 million.
Useless Coin price technical analysis
Useless chart | 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.
The risk, however, is that there are signs that the momentum is ending. For example, the Average Directional Index has plunged from a record high of 70 to 20. The ADX is a popular indicator that measures the strength of a trend.
The MACD and the Relative Strength Index have also formed a bearish divergence pattern, pointing to a potential retreat. Therefore, the coin may drop to the support at $0.50 as traders start to book profits.
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