Useless Coin [USELESS] surged 19% in the past 24 hours, with weekly gains now exceeding 169% as of press time, according to AMBCrypto reports. The memecoin cleared all 2026 losses and is on the verge of reaching October 2025 levels, having rallied from $0.06 to $0.265 during the week-long surge. The token had previously reached a 10-month high of $0.286 on Friday, September 4th, and is currently trading around $0.265, marking significant gains from previous levels. The latest rally comes after three days of correction from the $0.3188 level, indicating sustained bullish momentum despite recent volatility.
The primary driver of the recent rally was Useless Coin's exposure to the Asian market, with Bithumb exchange listing the memecoin against KRW, as reported by AMBCrypto. This listing expansion increased participants' trading activity and contributed significantly to the current surge. The memecoin's Open Interest (OI) hit a new all-time high of $146 million, more than double its peak OI of $70 million in October 2025, indicating that buy contracts for USELESS were on the rise. Additionally, a whale pulled 14 million USELESS tokens worth $3.20 million from Coinbase Prime Custody to a private wallet at the $0.215 zone, demonstrating serious institutional accumulation. Institutional transfers showed major activity with more than 440K tokens leaving Gate exchange to Fireblocks, while 2.20 million coins entered KuCoin's cold wallet, indicating that serious players are accumulating for the long haul.
According to AMBCrypto reports, the memecoin's market cap surged 300% and breached the $100 million mark, hitting $150 million. However, market activity has reduced significantly, with trading volume falling 18% to $78 million. The daily trading volume was down but was large enough to meet liquidity needs, with the volume-to-market-cap ratio at 47%, indicating healthy market participation. The price surge represents the token's strongest performance since November 2025, with the current levels marking a significant milestone for the memecoin's recovery trajectory. In the past 24 hours, Useless Coin was down by 12.1% with a 20% decline in Open Interest, indicating overextended bullish conditions.
According to AMBCrypto analysis, the positive index of ADX climbed to 46 while ADX rose to 48, indicating strong upward pressure. The D- fell to 4, suggesting bullish pressure is stronger than bearish momentum. The Stochastic Momentum Index (SMI) jumped to 67, further confirming the bullish trend. The CMF on the daily timeframe was at +0.36, the highest in recorded data on Kraken, per TradingView, while OBV has been trending higher since March and made another strong leg higher in recent weeks. The Choppiness Index reading at 50 was declining, indicating the uptrend was slowly gaining strength, with the MACD having turned green though small bars showed the uptrend lacked enough momentum. Technically, USELESS was ranging around its 2026 highs but on its way toward equalling this price point, with buying activity at the $0.19-$0.21 support hinting at a continuation in the short term. However, the memecoin traded 64% away from its all-time high of $0.4375, and bears at the $0.30 supply zone could cap this uptrend.
Despite the strong rally, the overextended bullish market conditions are being met with pushback, and the memecoin could be entering a pullback phase. As per AMBCrypto analysis, the $0.131 level was a critical support during the downtrend's latest swing low, though Useless Coin bulls did not stop anywhere for a meaningful amount of time for analysts to point to as an obvious support zone. In case of a pullback, the $0.213 and $0.176 levels are the demand zones to watch, while a price dip to $0.130 would likely offer a buying opportunity. However, memecoin rallies can end up retracing the full move, as they aren't driven by fundamentals but only by sentiment, which can be fickle at times. Losing $0.20 as support puts bears in control while staying above it and breaking past $0.30 reinforces buyer dominance, with the current momentum returning after a brief correction.
