USELESS Token Taps Into Memecoin Irony as PEPE Slides Amid Market Shift

In a cryptocurrency market often defined by complex technology and world-changing promises, a new memecoin is gaining traction by embracing the exact opposite: complete and utter uselessness. The USELESS token, which has surged to a valuation nearing $90 million, has built a powerful narrative by leaning into the critique that all memecoins are inherently without utility. This self-aware irony has attracted a cult-like following of traders who see it as the purest form of a memetic asset, where value is derived exclusively from community belief and collective attention. This meta-narrative suggests that if established tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) can achieve multi-billion dollar valuations despite their memetic origins, a token that proudly calls itself USELESS has a unique and potent appeal in a saturated market.

A Pure Play on Crypto Absurdity and On-Chain Signals

The movement is fueled by significant on-chain activity from influential traders. Crypto investor Unipcs, known for turning a small sum into millions by trading BONK derivatives, has become a major proponent, investing $382,000 to acquire 28 million USELESS tokens, or approximately 2.8% of the total supply. At its peak, this position was valued at over $2.3 million, yet the investor has reportedly not sold any tokens, signaling strong conviction in the project's long-term memetic potential. According to Unipcs, the token's strength lies in its honesty. “Every memecoin is technically useless... yet here we are, with one actually called USELESS leading the pack,” he stated in a public discussion. This perspective frames USELESS as an undervalued asset when compared to the valuations of other memecoins, creating a compelling, if highly speculative, trading thesis. The token's flywheel effect is simple: the higher its price climbs, the more absurd and attention-grabbing it becomes, drawing in more capital and reinforcing the cycle.

PEPE Technical Analysis: Price Struggles as Capital Rotates to Bitcoin

While new entrants like USELESS capture speculative interest, established memecoins like Pepe (PEPE) are facing significant headwinds. PEPE has fallen approximately 4.7% over the past 24 hours, trading around $0.000009499. This decline continues a recent downtrend characterized by high volatility and intense intraday selling pressure. The hype that once propelled PEPE, including a brief acknowledgment from Elon Musk in April, has largely dissipated as market-wide capital flows shift. This rotation is evident in the rising Bitcoin Dominance index, which has surpassed 65% for the first time in over two years, indicating a flight to safety and quality among crypto investors. This macro trend is draining liquidity from high-beta assets like PEPE, making sustained rallies difficult.

From a technical standpoint, PEPE's trading chart reveals a clear battle between buyers and sellers. The price experienced significant volatility between June 25, 09:00 UTC and June 26, 08:00 UTC, trading within a 16.1% range from a high of $0.00001017 to a low of $0.00000940. A formidable resistance level has formed at $0.00001013, where heavy selling occurred between 14:00 and 16:00 UTC on June 25. For traders, this level is now the key obstacle to any bullish reversal. Conversely, a short-term support zone has emerged between $0.00000946 and $0.00000950, where the price has repeatedly bounced. A decisive break below this support could trigger further downside. A notable volume spike of 91.9 trillion PEPE units at 07:17 UTC on June 26 coincided with a brief 3.1% rally, highlighting that significant buy orders are needed to move the price, but these surges have been met with subsequent profit-taking. The broader market data supports this trend, with pairs like SOLBTC and AVAXBTC showing strength, suggesting capital is favoring large-cap altcoins over memecoins in the current environment.