Token That’s Literally USELESS Is Crypto’s Latest Meme Cult

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Crypto’s latest memecoin cult is embracing the “useless” narrative given to joke tokens, making it a play that reached a $100 million valuation in current days.

The aptly-named USELESS coin has embraced that narrative and turned it right into a rallying cry. The official web site mocks the house it inhabits, and individuals are doing precisely that.

“USELESS coin is the greatest memecoin narrative to emerge from the trenches this year,” mentioned Unipcs, one in every of its largest backers, in a Telegram chat with CoinDesk. “Every memecoin is technically useless… yet here we are, with one actually called USELESS leading the pack.”

As far as skeptics and critics are involved, all of crypto is ineffective. USELESS coin faucets into that irony to place itself as the last word memecoin: the one actually ineffective coin that derives worth solely from what its cult followers give it.

Unlike Dogecoin, Shiba Inu, pepe (PEPE), or mog (MOG), USELESS has no animal or well-known mascot and simply includes a community-built golden coin brand with a chiseled “U.”

Nowhere is the obvious mockery clearer than within the pockets of Unipcs, who’s greatest recognized for turning $16,000 into greater than $20 million by betting on BONK-tracked futures. He aped in the token in its early buying and selling days, dropping $382,000 on 28 million tokens or roughly 2.8% of provide. That guess has ballooned to over $2.3 million (at peak), and he hasn’t bought a cent.

To normies, USELESS seems to be like but another excuse to hate crypto. But to memecoin maxis, it’s essentially the most trustworthy factor onchain.

“Every memecoin is technically useless, yet many sit at multi-billion-dollar valuations: cogecoin at $26 billion, shiba inu at $7 billion, PEPE at $4.4 billion, and so on,” Unipcs mentioned. “That makes USELESS coin incredibly undervalued at its current market cap—because all it takes is anchoring it to the valuation of these other ‘useless’ memecoins.”

In a flat market, the place most tokens promise the moon and ship a tweet, USELESS has discovered its area of interest: no guarantees, no pretenses — only a meme that’s value thousands and thousands.

“The higher it climbs, the more absurd it becomes, the more attention it draws, and the stronger the flywheel effect that pushes it even higher,” Unipcs added.

And proper now, that absurdity is value practically $90 million.

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