The token is up 90% this week as the Solana memecoin trenches slowly crawl back to life.
Useless Coin (USELESS), a memecoin that is transparently useless, may be leading a small memecoin resurgence on Solana, ahead of the pumpfun token launch.
The token is up over 90% this week, and more than 2,400% over the last 30 days, commanding a $247 million market capitalization.
Useless launched on the Bonk (BONK) memecoin’s official token launchpad, letsBONK, and is one of the few survivors from the brief “launchpad meta” that saw traders attempt to find the next big wealth generating token on pumpfun alternatives such as letsBONK, BoopFun, and BelieveApp.
The idea behind the meme is simple, in that it’s completely useless and doesn’t pretend to be anything that it is not.
As the token’s price rallies, its influence does as well — USELESS currently commands more than 4% of the total Solana ecosystem mindshare over the last week, according to Messari Portals* data.
Solana memecoins in general are also beginning to pick up steam again, with large cap memecoins, such as Pudgy Penguins (PENGU), rallying more than 65% over the last week, and total market cap of the Solana meme sector up nearly 10% on the day.
For its part, BONK rallied over 7% in the past 24 hours, and is up over 25% on the week.
Pumpfun remains the leading Solana memecoin launchpad in terms of multiple metrics, including daily active address and daily tokens launched, according to data from Dune Analytics. Last month, reports surfaced that the top memecoin launchpad is planning a token sale, looking to raise $1 billion at a $4 billion valuation.
*This article is part of a media partnership with Messari. Messari is building the insight layer for the cryptoeconomy – empowering builders, institutions, regulators, and the public to make informed, confident decisions.
Messari Portals a free-to-use community resource that combines quantitative data with qualitative context, giving crypto communities transparent, convenient access to information that helps them make better decisions. Visit our Portals and learn more at Messari.io/Portals
Source: https://thedefiant.io/news/markets/useless-coin-surges-leading-the-solana-memecoin-scene