From Joke to Jackpot: USELESS Memecoin Explodes Past $100M With Degen Backing

Key Takeaways

• Backed by Unipics (“BONK guy”), Useless Coin price held firm during the Israel-Iran market shakeout
• Crypto.com’s listing of USELESS mirrors BONK’s breakout, and an influencer suggests more CEX listings.
• Technically, BBP is positive, and the price may retest $0.15, which could increase if CMF breaks above zero.

Just when you thought the memecoin mania couldn’t get any wilder, degenerates found a new altar to burn their gas on.  Enter USELESS Coin — a Solana-based memecoin.

Like most tokens in this category, no roadmap or utility. No brakes either.

What started as a tongue-in-cheek jab at the absurdity of speculative crypto mania has now rocketed past a $100 million market cap, powered by pure vibes, reposts, and a sprinkle of BONK deja vu.

Is it a rug? A token ready to stay long in the market? Or just another chapter in the never-ending “up only” degen expectation?

USELESS Coin Proves Degens Don’t Need a Reason

Picture this: some anonymous person slides into your DM and shills a crypto called “Useless Coin.” There is no utility, no promises, not even a fake whitepaper.

Sounds like a hard pass, right? Not if you’re a degen.

As one,  logic is baggage, and brains are optional.

The strategy? Turn off critical thinking, embrace the absurd, and appear before the chart goes vertical.

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Sometimes, it pays off in life-changing multiples. Other times, you’re left holding a bag of pain and questioning your life choices on crypto Twitter (well, now X)

But in the case of Useless Coin, the degeneracy is paying dividends—at least for now. The ironically named memecoin has ripped past a $100 million market cap, rallying nearly 70% in the past week, outperforming other top memecoins, including SPX6900 and FARTCOIN.

However, it has not been up only. Earlier today, the USELESS Coin price hit an all-time high of $0.15. As of this writing, it has dropped by 11% and is changing hands at $0.13.

BONK Energy Detected

While USELESS might still be flying under the radar for some corners of crypto, CCN observed that its mindshare is rising. From what we’ve seen, a big part of the hype machine around USELESS is thanks to support from Unipics, better known on X as the “BONK guy.”

Yeah, that BONK guy. The same degen who spotted the BONK breakout early, long before it went parabolic in 2024.

For instance, on June 11, Unipics boldly compared USELESS to the frog-themed token PEPE. At that time, the meme coin had a modest $48 million market cap.

Then came the market-wide shakeout — triggered by Israel’s strike on Iran — which sent most alts into a nosedive. But not USELESS.

As the charts bled red, BONK guy pointed out that the token didn’t flinch.

“Every major memecoin got obliterated by news of Israel’s attack on Iran major cryptocurrencies like BTC, ETH, and SOL weren’t spared either USELESS coin, on the other hand, has held up incredibly well and acted as a better store of value it’s consolidating around its old ATH,” He highlighted on June 13.

Tokenomics That Aren’t So Useless After All

For a token with zero roadmap and a name that screams “don’t buy me,” influencer conviction does the heavy lifting. But if you’re trying to figure out whether USELESS has real staying power beyond the vibes, you’ve got to dig into the on-chain analysis.

First stop: token distribution. This is the degen gut-check—who’s holding the bags, and could any single whale nuke the whole party?

A lopsided holder base means one rage-quit could leave everyone else useless. For this meme coin, data from Nansen shows a somewhat even distribution. That kind of spread lowers the risk of a classic pump-and-dump.

Zooming in, the top USELESS holder controls just 2.82% of the total supply, with the second-largest wallet holding a nearly identical chunk. On the surface, that’s bullish.

But here is the twist: the top 100 holders collectively own 51% of the supply. So while it is not centralized in one giga-wallet, the whales still run the show.

Even more telling? Over the last 30 days, these stakeholders have accumulated an additional 556.96 million tokens, clearly doubling down. Meanwhile, your average Useless Coin holder is rocking a humble $153.62 position.

Trading Volume Surges

Amid all these, USELESS has scored its first top-10 exchange listing — courtesy of Crypto.com. To degens, it hits familiar notes: BONK landed its big-name CEX listing right before the price skyrocketed.

Following the Crypto.com debut, Unipics hinted that more top-tier exchanges could be eyeing USELESS, which could increase the price. Meanwhile, data from Santiment shows rising volume around the memecoin.

Should USELESS price continue to increase alongside the volume, the market value could soon hit a new all-time high.

USELESS Price to Valhalla or Another Round Trip?

From a technical point of view, the 4-hour chart shows that the Bull Bear Power (BBP) is in the positive region. This indicates that bulls are in control.

If sustained, the Useless Coin price could climb to its all-time high of $0.15. However, traders might need to watch out.

As of this writing, the Chaikin Money Flow (CMF) is yet to break above the zero signal line. However, if the CMF validates the upswing, the memecoin could rally toward $0.20.

But if the indicator lags, it could hinder USELESS’s quick run upwards. If that happens, the meme coin might drop to $0.11.