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USELESS Coin Breaks Out: Can It Hit $0.36?
USELESS Coin [USELESS] continues to dominate the BONK [BONK] ecosystem in terms of social traction. According to LunarCrush, the token accounted for 0.15% of all crypto-related conversations, underlining strong community engagement.
This surge in sentiment likely contributed to an 18% price increase over the last 24 hours. However, USELESS still traded 49% below its all-time high of $0.415 at the time of writing.
Technicals Signal Caution Despite Price Pump
Chart analysis by AMBCrypto revealed a breakout from a falling wedge pattern, with price action following a short-term support line on the hourly timeframe. On-Balance Volume (OBV) improved from -1.788 billion to -1.399 billion, showing mild accumulation.
Meanwhile, the MACD suggested that buyers remained active, but momentum was fading. Unless stronger capital inflows materialize, the memecoin might struggle to reach its next resistance near $0.36.
Open Interest and Trading Activity
USELESS saw its Open Interest (OI) rebound to $27.37 million after a dip earlier in August. Platforms such as Bybit, OKX, and Binance contributed most to the trading activity. However, volume remained low, well below mid-August’s $500 million peak, which could delay further price progress.
Smart Money Shows Interest
Despite weak momentum, smart money activity stayed positive. The average Long/Short Account Ratio stood at 1.539, suggesting buyers still had the upper hand. Spot Buy Volume reached $8.07K — more than twice the selling volume.
According to StalkChain, USELESS registered $372K in net buys over 24 hours, topping daily inflows and ranking second weekly behind Fartcoin [FARTCOIN].
Asian Market Interest Grows
“Chinese traders are increasingly eyeing USELESS,” said Bonk Guy, noting a rise in demand from Asian markets. The coin’s meme appeal has drawn comparisons to Shiba Inu [SHIB] and PEPE [PEPE].
