Useless Coin Surges Amid Crypto Market Decline
Useless Coin has become a standout in the crypto world, soaring over 1,700% in June. This surge happened while other Solana meme coins adn major tokens like Bitcoin were falling. The coin’s market cap hit $100 million,drawing attention from traders.
Smart money and whales are behind this rise. They’ve been buying Useless Coin aggressively. Nansen data shows smart money investors bought tokens worth over $94,000 in the last 24 hours. Whales have also increased their holdings by 36% in the past month.
Exchange balances have dropped by 16%,which supports the coin’s price. Though, technical indicators now suggest caution. The Average Directional index has fallen from 70 too 20. This indicates the trend might be weakening.
Useless Coin’s price jumped to $0.1092, up 1,750% from its june low. This happened as Bitcoin fell from $111,900 to $103,000.most Solana meme coins have also dropped this month.
While the coin’s rise shows the power of investor sentiment, traders shoudl be wary. The MACD and Relative Strength Index show a bearish divergence. This could mean a price drop to $0.50 as traders take profits.
