If you’ve been keeping an eye on the crypto market, you might have noticed some wild swings lately, especially with meme coins like $USELESS. On July 30, 2025, Mike S (@Mikesi30) dropped a fascinating tweet that’s got the community buzzing. He highlighted how $USELESS is showing one of the strongest recoveries after the recent FOMC (Federal Open Market Committee) dump, bouncing off support, reclaiming the Point of Control (POC), and now testing the 20 EMA (Exponential Moving Average). Let’s break this down and see what it means for traders and meme coin enthusiasts!

What’s Happening with $USELESS?

The chart shared by Mike S shows a 4-hour view of the $USELESS perpetual contract on Bybit. After a sharp drop—likely triggered by the FOMC announcement—the price found a solid support level. This is the point where selling pressure eased, and buyers stepped in to push the price back up. The purple shaded area on the chart marks this key support zone, with the POC (a level where the most trading volume has occurred) acting as a magnet for price action.

Now, $USELESS is testing the 20 EMA, a popular technical indicator that smooths out price data to show the trend. Think of it like a weather forecast for the coin’s price—it helps traders figure out if the momentum is shifting upward or downward. The fact that the price is approaching this line after a bounce is a big deal, suggesting that the market sentiment might be turning bullish again.

Why the FOMC Dump Matters

The FOMC dump refers to a sell-off in the crypto market often triggered by the U.S. Federal Reserve’s monetary policy announcements. These updates can shake up investor confidence, causing prices to dip as people react to potential interest rate changes or economic shifts. For $USELESS, a meme coin known for its wild rides, this was a test. But as Mike points out, the recovery is impressive, especially when compared to bigger players like Bitcoin and Ethereum, which saw declines of -0.55% and -0.29% respectively in the same period (based on the data from the thread).

What Does This Mean for Traders?

This rebound is a signal for those watching meme coins. The strength of $USELESS compared to other assets like $DOGE or $WIF suggests it might be gaining traction as a “risk-on” bet—meaning investors are willing to take chances on speculative assets again. The chart’s upward movement toward the 20 EMA could be a green light for traders to jump in, but it’s not without risks. If the price fails to break above the EMA, it might retreat back to the support zone.

For those new to trading, the 20 EMA is like a moving target—it gives more weight to recent price changes, making it quicker to react than other averages. A successful test here could push $USELESS toward new highs, especially if the broader market sentiment stays positive with strong earnings lifting risk appetite.

Community Reaction and Future Outlook

The tweet sparked a lot of excitement, with replies like “See you at 1 billion broski” from @SamuelXeus and “$USELESS is a billion coin” from @boyykennn. This hype is typical for meme coins, where community belief can drive value as much as technicals. Some are even predicting $USELESS could hit a billion-dollar market cap, a milestone that would put it in the same league as top meme coins like Dogecoin.

Looking ahead, keep an eye on how $USELESS performs against the 20 EMA in the next few days. If it breaks through with strong volume, it could confirm a bullish trend. For the latest updates, check out meme-insider.com where we dive deep into meme coin trends and technical analysis.

Final Thoughts

$USELESS is proving it’s far from useless in today’s market! Its bounce back after the FOMC dump, coupled with a test of the 20 EMA, makes it a coin to watch. Whether you’re a seasoned trader or just dipping your toes into the meme coin craze, this movement offers a great case study in market resilience. Stay tuned to meme-insider.com for more insights and let us know your thoughts in the comments!