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A token, interestingly named Useless Coin (USELESS), soared in value last week, outperforming several established meme tokens.
Useless Turns Out to be ‘Useful’
The Solana(CRYPTO: SOL)-based community-driven memecoin soared 230% over the week and is up 444% in a month
Launchedibility after winning a Kraken trading competition, which led to its logo appearingon the jerseys of Atlético de Madrid, a Spanish professional football club
Widely followed cryptocurrency analyst Zcash called the bottom in for USELESS and encouraged quick buying to drive it to a $10 million market capitalization.
Another Parody Coin Makes Waves
“The world’s first cryptocurrency that promises nothing and delivers exactly that.” Yes, that’s literally how the coin is described on the official website. Yet, it has ballooned into an asset worth $216 million.
The entire project, right down to its “Useless Whitepaper,” is a parody.
The memecoin sector has seen multiple coins launched purely as parodies, offering no functional utility or technological purpose.
The real standout is the name If you think USELESS is outrageous, don’t forget there’s also a Fartcoin(CRYPTO: FARTCOIN).
USELESS overshadowed more popular and valuable memecoins, including Dogecoin(CRYPTO: DOGE)and Shiba Inu(CRYPTO: SHIB).
Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading
Photo Courtesy: Elpisterra on .com
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