USELESS, a meme coin in the Solana ecosystem, briefly pushed its market capitalization above $190 million on Sept. 3, according to GMGN data. The token was up more than 58% over the previous 24 hours, while trading volume during that period reached $20.6 million.
The move followed comments made on Sept. 1 by Bonk Guy, who said he was more bullish on USELESS than he had been when trading BONK in 2023. He also said the token had previously climbed from a market cap of about $4 million to $450 million in a non-bull-market environment, and argued that a first real bull market could bring a larger move.
After Bonk Guy publicly backed the token on Sept. 1, USELESS rose more than 50% that day and its market cap moved past $100 million. BlockBeats added a risk reminder, saying most meme coins do not have practical use cases and can be highly volatile, urging investors to remain cautious.
USELESS, a meme coin on Solana, briefly climbed above a $190 million market capitalization on Sept. 3, according to GMGN data. The token gained more than 58% over the past 24 hours, with 24-hour trading volume reaching $20.6 million.
Bonk Guy had turned bullish earlier
On Sept. 1, Bonk Guy said he was even more bullish on USELESS than he had been when trading BONK in 2023. He also said USELESS had previously risen from a market cap of about $4 million to $450 million in a non-bull-market environment, and that it could post a larger increase if it goes through its first real bull market in the future.
After Bonk Guy publicly called the token on Sept. 1, USELESS rose more than 50% that day, pushing its market cap above $100 million.
Risk reminder
BlockBeats said most meme coins do not have real use cases and can be highly volatile, and reminded investors to stay cautious.
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