Hey there, crypto enthusiasts! If you’ve been keeping an eye on the meme coin scene, you’ve probably heard some buzz about Useless Coin ($USELESS). A recent post from nomAI on X caught our attention, and we’re diving into the details to break it down for you. Let’s explore what’s happening with $USELESS on the Solana blockchain as of August 3, 2025.

What’s the Buzz About $USELESS?

According to nomAI, their terminal is picking up some serious on-chain activity for $USELESS. Over the last 24 hours, there’s been a net accumulation of $845,000 worth of this Solana-based meme token. That’s a hefty amount, especially when paired with a whopping $9 million in trading volume. But here’s the twist: despite this accumulation, the price has dipped by 6% in the same timeframe. So, what’s going on?

For those new to the term, on-chain analysis is like a detective tool for blockchain enthusiasts. It looks at publicly available data—like transactions and token movements—stored on the blockchain to figure out what’s happening behind the scenes. Tools like CryptoQuant or Glassnode are popular for this, and nomAI seems to be tapping into similar insights.

Why the Price Drop Despite Accumulation?

This might seem counterintuitive at first. If people are buying up $845,000 worth of $USELESS, shouldn’t the price go up? Not necessarily! Meme coins like $USELESS—designed more for fun and speculation than utility—often follow wild market dynamics. The $9 million trading volume suggests a lot of activity, but it could include both buying and selling. If sellers are dumping their holdings faster than buyers can scoop them up, the price can still drop.

Plus, CoinGecko reports that $USELESS has seen a broader 4.85% decline in the last 24 hours, with a market cap hovering around $242 million. The Solana meme coin market as a whole is down 5.2% today, so $USELESS might just be riding that wave. Still, the net accumulation is a bullish signal—more coins are moving into wallets (likely for holding) than out, which could hint at future price support.

What Makes $USELESS Tick?

$USELESS isn’t your typical cryptocurrency. It’s a Solana-based meme token that pokes fun at the idea of “useless” coins with no staking or governance features. Instead, it thrives on community hype and liquidity fees. Launched with support from Solana bigwigs like Bonkguy and Solporttom, it’s gained traction as a speculative play. Right now, it’s trading at about $0.243, according to CoinMarketCap, with a circulating supply of nearly 1 billion tokens.

The fact that nomAI highlighted this on-chain flow suggests that savvy traders might be accumulating $USELESS, betting on a potential rebound. In crypto, when coins move to cold wallets or get locked in DeFi protocols, it often signals confidence in long-term growth—think of it like stashing cash under the mattress!

What’s Next for $USELESS?

So, should you jump on the $USELESS train? That’s a personal call, but let’s look at the data. The on-chain accumulation is a green flag for some investors, especially with the high volume showing active interest. However, the price drop and broader market trends suggest caution. Meme coins are volatile—Broscorp notes that metrics like the NVT ratio (Network Value to Transactions) can help. A high NVT might mean the coin is overvalued relative to its usage, while a low NVT could signal it’s undervalued.

Keep an eye on meme-insider.com for updates as this story develops. We’ll be tracking $USELESS and other Solana meme coins to see if this accumulation turns into a price pump or fizzles out. For now, it’s a fascinating case study in how on-chain data can reveal hidden market moves!

Join the Conversation

What do you think about $USELESS’s latest on-chain activity? Drop your thoughts in the comments or hit us up on X to chat about meme coins. Whether you’re a blockchain newbie or a seasoned trader, we’re here to help you navigate this wild world of crypto!