USELESS Coin, a prominent token within the BONK ecosystem, recently captured significant market attention with a notable price surge and elevated social sentiment. While "Smart Money" inflows and a growing global interest paint a picture of burgeoning demand, underlying technical indicators reveal a more cautious outlook for the memecoin's sustained upward momentum.
USELESS Coin's Price Action and Technical Nuances
The memecoin witnessed an impressive 18% price jump in the past 24 hours, largely fueled by community hype and a breakout from a falling wedge pattern. This positive price action was complemented by an improvement in the On Balance Volume (OBV). However, despite these gains, USELESS still trades a substantial 49% below its all-time high. Crucially, technical analysis indicates that while buyers are in control, their momentum appears weak. Furthermore, overall trading volume, though increasing, remains significantly lower than levels seen in mid-August. This relatively low volume could impede the coin's ability to swiftly reach higher price targets, such as the medium-term resistance at $0.36.
Smart Money Inflows and Shifting Sentiment
Despite the weak technical momentum, USELESS Coin is demonstrating strong underlying buyer interest and attracting "Smart Money." The average Long/Short Accounts Ratio indicates a sustained bullish bias, with Spot Buy Volume significantly outweighing sell volume. Data from StalkChain further confirms this, showing substantial net buys from smart money in the last 24 hours, positioning USELESS as a top-ranked token for inflows. This internal strength is bolstered by an expanding global appeal, with increasing demand noted from Chinese traders who are drawing comparisons between USELESS and established "attention magnet" memecoins like Shiba Inu and PEPE. This blend of committed buyer support and rising international interest suggests a robust foundation, even as short-term technicals present a challenge for a rapid, sustained rally.
