Bitcoin has dumped another $3k since my tweet yesterday
and guess what?
$USELESS is UP 5% on the day, leading the charge alongside $PEPE while the memecoin market gets absolutely slaughtered
let that sink in
$BTC is losing key levels, the market is bleeding, and USELESS keeps attracting relentless bids
this is NOT normal price action
this is the kind of relative strength that screams underlying demand, persistent accumulation, and a ridiculous amount of pent-up buying pressure
now imagine what happens when the broader market finally turns green...
i genuinely cannot fathom how aggressively parabolic $USELESS is about to get
the coiled spring is getting tighter.
let me put $USELESS's relative strength into perspective:
when $BTC nuked from $82k to $76k during the Binance hack on Oct 29, $USELESS was trading around a $120m market cap
today, with Bitcoin hitting (and still trading around) $71k, $USELESS is sitting at $130m
that's a higher market cap despite Bitcoin being another $5k lower
meanwhile, almost every other memecoin is down double-digit percentages compared to where they were back then
THIS is the kind of unreal relative strength you want to see
it's alpha, and a clear indication that $USELESS is priming for a parabolic melt-up
MEMECOIN OF THE CYCLE!
let me put $USELESS's relative strength into perspective:
when $BTC nuked from $82k to $76k during the Binance hack on Oct 29, $USELESS was trading around a $120m market cap
today, with Bitcoin hitting (and still trading around) $71k, $USELESS is sitting at $130m
that's a higher market cap despite Bitcoin being another $5k lower
meanwhile, almost every other memecoin is down double-digit percentages compared to where they were back then
THIS is the kind of unreal relative strength you want to see
it's alpha, and a clear indication that $USELESS is priming for a parabolic melt-up
MEMECOIN OF THE CYCLE!
let me put $USELESS's relative strength into perspective:
when $BTC nuked from $82k to $76k during the Binance hack on Oct 29, $USELESS was trading around a $120m market cap
today, with Bitcoin hitting (and still trading around) $71k, $USELESS is sitting at $130m
that's a higher market cap despite Bitcoin being another $5k lower
meanwhile, almost every other memecoin is down double-digit percentages compared to where they were back then
THIS is the kind of unreal relative strength you want to see
it's alpha, and a clear indication that $USELESS is priming for a parabolic melt-up
MEMECOIN OF THE CYCLE!
Bitcoin just made an 83-day low and is down over 3% today
meanwhile, $USELESS is completely unfazed
not only has it refused to make a new low, but it's literally the ONLY established memecoin in the entire market that's green today
this kind of insane relative strength doesn't happen by accident
and historically, it's exactly the kind of strength that precedes a parabolic move
$USELESS IS BUILT DIFFERENT
solana:HuAXPyDWDaMYFKuwQHpqL1oPnj93zdzWmtvFGzCeCUa7 is now the highest REV gen privacy protocol according to DefiLama at ~$7.5m annualized, while sitting below a $10m FDV.
The 100% buyback from fees will work as our the marginal bidder. ~$20k per day while doing an AVG of $4m VOL. (100% is used to buy and burn solana:HuAXPyDWDaMYFKuwQHpqL1oPnj93zdzWmtvFGzCeCUa7)
The protocol has crossed $160m in volume in just over a months time, and nearly $1.8m in fees ($803k platform fees, $965k ZEC rewards)
Holding these levels is Quite impressive while the entire market takes a downturn.
The team is shipping at an unbelievable rate, doing a media tour, and partnering with some of the biggest players in the game. Next level BD and transparency. Recent partnerships include Solana, Arbitrum, Monad, and many more.
Also note the team has been building for over a year and has even received grants from the likes of Zcash... the big players recognize the talent. (As stated on @MCGlive)
From a product perspective, native privacy has a massive pull. No need to switch users over to your wallet or app. With one easy integration, you can have privacy directly within your favorite wallets. The goal for the team is to make this more seamless.
I am aware that the pool's turn over many multiples per day due to the points program, but points will likely persist indefinitely, even after season one concludes.
R/R seems too good to not start a DCA here. Bought + dropped the thesis on fomo: https://t.co/2hZyZHlmZR
Lately, $USELESS doesn't retrace when $BTC dumps.
And it rebounds hard when $BTC shows even a little bit of strength.
So imagine what happens once $BTC reaches $80K+ levels again.
Just imagine.
show me a better-looking memecoin chart than $USELESS right now
this is an underwater beachball waiting to explode and go aggressively parabolic
and it is looking incredibly primed on literally all timeframes
only a matter of time before this explodes
$USELESS One of the memes that's been most responsive to any bounces on the lower timeframes.
Think this is at a decent level here, right at the Daily 200EMA and been holding up well as most of the market made new lows last week.
If it loses this then the $0.1 region would be next up as support.
These coins are good to trade for their volatility, just make sure you're on the right side of the momentum because when they trend, they trend hard.
I never really short memecoins as they are bound to punish you with random squeezes and such. I do think they can be good directional trades if the market is risk on and you can sit it out for a while to catch a solid move.
Right now, monitoring closely to see if $BTC can lead with some relief and how USELESS reacts.
$USELESS One of the memes that's been most responsive to any bounces on the lower timeframes.
Think this is at a decent level here, right at the Daily 200EMA and been holding up well as most of the market made new lows last week.
If it loses this then the $0.1 region would be next up as support.
These coins are good to trade for their volatility, just make sure you're on the right side of the momentum because when they trend, they trend hard.
I never really short memecoins as they are bound to punish you with random squeezes and such. I do think they can be good directional trades if the market is risk on and you can sit it out for a while to catch a solid move.
Right now, monitoring closely to see if $BTC can lead with some relief and how USELESS reacts.
something tells me $USELESS is very close to breaking out
USELESS / SOL already broke out of the falling wedge and is starting to accelerate .. USELESS / USD next ?
order books on @krakenfx are 77% buy .. & USELESS is green on the day while BTC is down
interesting
when bitcoin breaks out - pretty clear USELESS leads the next risk on rally
did it in August , will most likely do it again