A curious newcomer has shown up in the crypto market. Investors are scrutinizing a new memecoin – Useless Coin. Its most unusual feature is its name. However, according to the developers, Useless Coin is “the most honest coin and the first in the world that truly promises nothing.” Despite its absurdity, Useless Coin has drawn attention from several investors since its launch in May 2025. Between May 11 and June 30, this memecoin surged in price by more than 29 times!

As a result, the project's market capitalization surpassed $100 million. On the back of this growth, Useless Coin became the top-performing memecoin of the week in the second half of June.

By June 30, its market cap had exceeded $220 million. Isn’t it amazing how Useless Coin is smashing through every barrier in its path? As of now, the coin ranks 219th among all crypto projects by market capitalization, entering the top 250. Of course, it is still far from the top 100, but that could change.

According to its official website, the developers openly claim that the token promises zero utility, meaning “absolutely nothing”: no DeFi (decentralized finance), no NFTs (non-fungible tokens), and no staking. In fact, Useless Coin even “guarantees losses” to its holders! And yet, it is popular!

Experts give credit to the developers for cleverly playing on the idea of the “uselessness” of digital assets. They capitalized on the widespread opinion that many cryptocurrencies lack any real utility and can easily be scams. The creators also refer to JPMorgan CEO Jamie Dimon’s famous statement that “Bitcoin is useless.”

However, it's too early to jump to conclusions – Useless Coin is a red-hot project that has been trading for just a month and a half. In the meantime, it has logged a mind-blowing rally. Since May 13, it has surged by more than 1,823%. Its volatility is also high: the token's price has jumped by more than 9% every single day over the past five trading sessions.

When a memecoin shows such strong growth, it is clearly in a bullish trend. Currently, its price is significantly above the 50-day moving average. The RSI indicator is in the overbought zone, which usually signals a possible reversal. However, in the case of Useless Coin, this may not be particularly relevant due to several factors. First, it is the unique nature of the cryptocurrency. Second, it has been trading firmly up, but oscillators often give false signals. Third, the RSI has been overbought since June 9, but the token has grown eightfold since then.

At the moment, luck is on Useless Coin’s side, but the euphoria will not last forever. Any asset cannot only go up. At some point, investors and traders will look to take profits. In that scenario, a sharp correction is imminent, experts warn.

Despite its bizarre idea, Useless Coin continues to arouse investor interest. Some believe that its radical honesty about being “useless” is part of the appeal. Still, with the token already up 1,800%, a strong correction in the near future would not be a surprise.