Crypto’s newest memecoin cult is embracing the “useless” narrative given to joke tokens, making it a play that reached a $100 million valuation in recent days. The aptly-named USELESS coin has embraced that narrative and turned it into a rallying cry. The official website mocks the space it inhabits, and people are doing exactly that. “USELESS coin is the greatest memecoin narrative to emerge from the trenches this year,” said Unipcs, one of its biggest backers, in a Telegram chat with CoinDesk. “Every memecoin is technically useless... yet here we are, with one actually called USELESS leading the pack.” As far as skeptics and critics are concerned, all of crypto is useless. USELESS coin taps into that irony to position itself as the ultimate memecoin: the one truly useless coin that derives value solely from what its cult followers give it. Unlike Dogecoin, Shiba Inu, pepe (PEPE), or mog (MOG), USELESS has no animal or well-known mascot and just features a community-built golden coin logo with a chiseled “U.” Nowhere is the apparent mockery clearer than in the wallet of Unipcs, who is best known for turning $16,000 into more than $20 million by betting on BONK-tracked futures. He aped in the token in its early trading days, dropping $382,000 on 28 million tokens or roughly 2.8% of supply. That bet has ballooned to over $2.3 million (at peak), and he hasn’t sold a cent. To normies, USELESS looks like yet another reason to hate crypto. But to memecoin maxis, it’s the most honest thing onchain. “Every memecoin is technically useless, yet many sit at multi-billion-dollar valuations: cogecoin at $26 billion, shiba inu at $7 billion, PEPE at $4.4 billion, and so on,” Unipcs said. “That makes USELESS coin incredibly undervalued at its current market cap—because all it takes is anchoring it to the valuation of these other ‘useless’ memecoins.” In a flat market, where most tokens promise the moon and deliver a tweet, USELESS has found its niche: no promises, no pretenses — just a meme that’s worth millions. “The higher it climbs, the more absurd it becomes, the more attention it draws, and the stronger the flywheel effect that pushes it even higher,” Unipcs added. And right now, that absurdity is worth nearly $90 million.
