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USELESS Market Cap Rises Over 10x From Low as Holder Addresses Hit Record

Trader Bonk Guy said USELESS holder addresses have hit a new record high, with the token’s market capitalization climbing from a low of about $28 million to roughly $318 million, a gain of more than 10x. He said the token has repeatedly cycled through outperformance, sharp pullbacks, consolidation and new highs over recent months, with higher highs and higher lows across short, medium and long timeframes — a pattern he said differs from that of a topping memecoin.

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AI take

The striking element here is the divergence between a surging market cap and a rising holder count, which points to broadening participation rather than a handful of large wallets driving the move. The cited pattern of higher highs and higher lows across multiple timeframes is the sort of structure that invites the question of whether it reflects genuine demand or simply a more orderly distribution phase. Whether holder growth keeps pace with valuation, and whether the token can hold its consolidation ranges, is the open question.

Generated by AI for reference only.

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