Unipcs (aka 'Bonk Guy') 🎒@theunipcs22H
bullishi posted the following in response to someone in a small group chat about recent $USELESS 'weakness' and figured i should post on X too:
yeh i see what you mean, and agree that $USELESS has been quite weak recently
but here's what i've noticed about $USELESS:
it tends to be aggressively volatile in BOTH directions
when it pumps, it does so aggressively and outperforms everything by a wide margin
when it dumps, it does that with the same intensity
i actually think this is one of its biggest strengths, not a weakness
volatility is a trader's dream. it drives the volume and attention that make a memecoin sticky and help it reach new ATHs
that said, everything depends on your timeframe
if you're looking at the past few weeks or the past month, then yes, $USELESS has underperformed and is down over 50%
but look at YTD, 10/10 to date, 3-6 months, or any other meaningful timeframe, and it has outperformed every other established memecoin
and here's the funny thing about $USELESS:
it has a habit of looking incredibly weak, only to come out of nowhere and aggressively outperform everything on a monster rally that leaves people trying to time the bottom completely sidelined
we've seen this play out repeatedly
• i remember when $USELESS was around $30m-$50m while $CASHCAT was ripping to $200m. everyone was mocking USELESS, calling CASHCAT the cycle meme and telling people to sell USELESS
shortly after, USELESS ripped from $30m to $350m in a matter of weeks
today, CASHCAT is around $100m while USELESS is around $140m despite all the talk about USELESS being 'weak'
• replace CASHCAT with $AI or $ANSEM, and it's the same story
• i also remember everyone fudding USELESS against $FARTCOIN when USELESS was at $30m and FARTCOIN was at $180m-$200m
they called USELESS boring and unfunny, argued FARTCOIN was better value, and told people to sell USELESS at 30m and buy FARTCOIN at 180m
shortly after, USELESS came out of nowhere and flipped FARTCOIN and also WIF, BONK, etc for a while
$USELESS has consistently outperformed established memecoins since $TRUMP, as well as the newer cycle memes people have repeatedly favored over it
and die-hard $USELESS loyalists instinctively understand why:
every other memecoin is USELESS, and liquidity will eventually flow to the king of them all:
$USELESS
of course, we should also remember that USELESS literally just pulled off a 10x in around 5 weeks, going from around $35m to $350m between August 12 and September 23
a pullback after a move like that isn't unreasonable, especially with these market conditions. some would even argue it's healthy, as much as i'd love to see it go straight up forever
i'll also admit that hyper-optimistic $USELESS bullievers like myself can get carried away
sometimes we're still hyperbullish in the short term even after the short-term trend has flipped
but that doesn't automatically change the long-term thesis
short term, mid term, or long term, USELESS has repeatedly established itself as THE memecoin to pay attention to heading into the new cycle
since its launch, it has challenged virtually every ceiling people thought was possible for a memecoin in this era:
• the only memecoin to reach $450m+ market cap post $TRUMP / $MELANIA in any meaningful fashion, and we're almost two years on
• the only established memecoin to outperform $BTC and its chain's native currency this year
• one of the only memecoins to come close to its previous ATH in a meaningful way after an aggressive pullback in almost two years
so yes, USELESS can show more weakness when the market looks bad
sometimes, it even frontruns the market when weakness starts to appear
but whenever the market starts trending up, USELESS has repeatedly demonstrated that it can bounce back harder and faster than almost anything else
if you believe the bull run is imminent, i'd be looking to aggressively buy or hold $USELESS 'weakness'
if you think we're done for the foreseeable future, well, you probably shouldn't be listening to me haha 😅
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