USELESS Trading Metrics Hit Records as BonkGuy Reports $2.05M Unrealised Profit
USELESS has recorded sharp growth in trading activity and holder numbers, according to trader BonkGuy, also known as Unipcs. Over the past 24 hours, USELESS trading volume on Coinbase and Kraken exceeded DOGE’s volume. The token reportedly also overtook DOGE on European exchange Bitvavo.
USELESS gained more than 6,900 new holder addresses in one week, taking its holder count to a record high. Its perpetual futures open interest and trading volume also reached all-time highs. Perpetual futures volume exceeded $1.2 billion in the past 24 hours, while spot trading volume was about $104 million.
BonkGuy said USELESS is now among the highest-volume meme coins on Solana and could become a leading meme coin in the current market cycle. His USELESS holdings are valued at about $2.89 million, against cumulative investment of roughly $878,300, representing an unrealised profit of approximately $2.05 million and a return of about 233%.
The surge in USELESS trading activity may attract momentum traders, but elevated futures volume and open interest also increase liquidation and volatility risks.
Bullish
The news is bullish in the short term because USELESS is showing several momentum signals at once: record trading volume, record perpetual open interest, rising spot activity, and more than 6,900 new holder addresses in a week. Its reported ability to exceed DOGE’s volume on several exchanges may increase visibility and attract speculative traders. BonkGuy’s large unrealised profit could also reinforce the token’s social-media narrative and liquidity momentum.
However, the bullish assessment is mainly tactical rather than a confirmation of long-term value. Meme coins often experience sharp rallies when exchange volume, holder growth and futures positioning rise together. Similar episodes in tokens such as DOGE and other Solana-based meme coins have frequently been followed by rapid corrections once momentum weakens. Futures volume above $1.2 billion and record open interest can amplify both gains and losses, increasing liquidation risk and market instability.
Traders should watch whether spot volume continues to support the move, whether new holders keep increasing, and whether funding rates or open interest become excessively crowded. Sustained spot demand would strengthen the longer-term case. A decline in spot activity alongside rising leverage would be a warning of a potential blow-off top.