In a market often criticized for its lack of tangible utility, a new token named USELESS is leaning into the critique, building a cult-like following that has propelled its valuation to nearly $90 million. This phenomenon highlights a peculiar but potent dynamic in the cryptocurrency space, where narrative and community conviction can trump traditional fundamentals. The USELESS token, devoid of any mascot or elaborate roadmap, presents itself with stark honesty: its only value is what the market decides to give it. This meta-commentary on the nature of memecoins has resonated deeply with a segment of traders, turning irony into a multi-million dollar asset class and creating a powerful flywheel effect.

USELESS Token Taps Into Memecoin Irony, Surges to $90M Valuation

The driving force behind the USELESS narrative is its self-awareness. While established memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) carry market caps of $26 billion and $7 billion respectively, they are often labeled as having little intrinsic value beyond their communities. USELESS embraces this label as its core identity. One of its most prominent backers, a trader known as Unipcs, articulated this view in a public statement, noting, “Every memecoin is technically useless... yet here we are, with one actually called USELESS leading the pack.” This perspective suggests that at its current valuation, USELESS is significantly undervalued if it can anchor itself to the market caps of other 'useless' projects. Unipcs, famous for turning a $16,000 investment into over $20 million trading BONK derivatives, backed his conviction with a significant purchase of 28 million USELESS tokens for approximately $382,000. This stake, representing about 2.8% of the total supply, swelled to over $2.3 million at its peak, and he has reportedly not sold any tokens, signaling a strong belief in the narrative's long-term potential.

The Flywheel of Absurdity and Attention

The success of USELESS can be attributed to a self-reinforcing cycle. In a relatively flat market where many projects overpromise and underdeliver, a token that promises nothing has captured significant attention. As its market cap climbs, the sheer absurdity of its success becomes a story in itself, drawing in more media coverage, social media buzz, and, consequently, more buyers. This creates a powerful flywheel: rising prices generate attention, which fuels more buying, pushing prices even higher. This dynamic thrives on irony and community engagement, positioning USELESS as perhaps the most honest memecoin on the blockchain—its value is purely a reflection of collective belief and speculation, with no pretense of changing the world through technology.

Toncoin and Solana Signal Broader Market Strength

While memecoins like USELESS capture headlines with explosive, narrative-driven rallies, other segments of the market are showing signs of fundamental and technical strength. Toncoin (TON), the native token of The Open Network, has been carving out a bullish short-term uptrend. Technical analysis models indicate a solid price structure, with the token establishing a series of higher lows recently at $2.80, $2.81, and $2.83. This pattern culminated in a decisive breakout above the $2.85 resistance level, a move that was supported by exceptional trading volume. At its peak, volume surpassed 69,000 units, confirming strong buying pressure and conviction behind the move. With strong support now confirmed at the $2.82 level after multiple retests, TON has climbed to $2.86, representing a gain of over 1.5% in the last 24 hours, outperforming a broader market index which saw a slight decline of 0.4% in the same period.

Further evidence of underlying market strength can be seen in the performance of Solana (SOL). The ecosystem's native token is demonstrating robust momentum across multiple key trading pairs. Against the dollar, SOL/USDT has pushed past the $152 mark, a gain of nearly 1.5%, with a 24-hour high reaching $154.64. More impressively, Solana is showing relative strength against the market's two largest assets. The SOL/BTC pair registered a 2.1% increase to trade at 0.00142920 BTC, while the SOL/ETH pair jumped approximately 2.6% to 0.068000 ETH. This outperformance suggests that capital may be rotating into the Solana ecosystem as traders seek higher returns. The consistent volume and upward price action across these pairs—including SOL/USDC and SOL/USD—point to a healthy and sustained interest in Solana, providing a compelling counterpoint to the purely speculative fervor surrounding assets like USELESS.