USELESS Meme Coin Pumps 30% Amid Major Exchange Listings
USELESS Defies Expectations with 30% Price Surge
The Solana-based meme coin, USELESS, has experienced a remarkable surge, climbing over 30% in the last 24 hours. This performance positions it as a top gainer in the digital asset market.
This rally contrasts sharply with the performance of established meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), which have posted losses despite a generally positive market sentiment.
Major Exchanges List USELESS
The recent price surge appears to be fueled by a series of listings on prominent cryptocurrency exchanges this week.
- Coinbase: Announced the listing of USELESS on X (formerly Twitter), with trading commencing according to their listing roadmap.
- Binance US: Also confirmed the listing of the meme coin, increasing its accessibility to a broader investor base.
- Kraken: Joined the trend by listing USELESS, further amplifying its market visibility.
Technical Analysis Points to Bullish Momentum
The influx of liquidity following these listings has strengthened the bullish outlook for USELESS. Technical indicators support this trend:
- MACD Crossover: The Moving Average Convergence Divergence (MACD) line (blue) has crossed above its signal line (orange), signaling a potential shift towards bullish momentum. This is the first such crossover since July 17.
- 20-day EMA Support: The altcoin is currently trading above its 20-day Exponential Moving Average (EMA), which provides dynamic support at around $0.25.
A break above the 20-day EMA generally indicates that short-term price momentum is turning positive.
Potential Price Targets
At press time, USELESS is trading at approximately $0.28. If the buying pressure continues, the price could potentially reach $0.34.
However, traders should also be aware of potential downside risks. Profit-taking could cause the price to fall below $0.27. In such a scenario, the 20-day EMA would serve as the first line of support. A failure to hold this level could lead to a further decline towards $0.22.