Annual meme narrative? USELESS market capitalization is heading straight for 100 million USD

Gate News bot news, USELESS has experienced a big pump of 2000% in two weeks, rising from $0.004 to nearly $0.10, with a market capitalization reaching 100 million dollars at one point. This Solana-based meme coin has no utility, no roadmap, yet it already has 12,000 holders, with a peak daily trading volume of 23 million USD, and boasts a group of enthusiastic fans.

"USELESS is the greatest memecoin narrative to emerge this year," said one of its biggest supporters, Unipcs. "Technically, all memecoins are useless... however, we have discovered a memecoin called USELESS that has actually set the trend."

During the early trading period of USELESS, he bought 28 million pieces, accounting for about 2.8% of the total supply, investing $382,000. This bet has soared to over $2.3 million (peak), and he has never sold.

From the perspective of skeptics and critics, all cryptocurrencies are useless. USELESS precisely utilizes this irony, positioning itself as the ultimate memecoin: a truly useless token, whose value comes entirely from the devotion of its enthusiastic fans.

Unlike Dogecoin, SHIB, PEPE, or MOG, USELESS has no animal prototype or well-known mascot, only a community-built coin logo engraved with "U".

"Technically, all memecoins are useless, but many are valued at billions of dollars: $26 billion for DOGE, $7 billion for SHIB, $4.4 billion for PEPE, and so on," Unipcs said. This makes USELESS grossly undervalued at its current market capitalization – as it is only necessary to refer to the valuations of other 'useless' memecoins. ”

"The higher it climbs, the more absurd it becomes, the more noticeable it is, and the stronger the flywheel effect, pushing it to the next level," Unipcs added.

As of the time of writing, USELESS market capitalization is slightly over 90 million USD.

Source: CoinDesk