Useless Coin rallies 300%, hits 10 month high – Can bulls hold?

On Friday, the 4th of September, Useless Coin [USELESS] reached a high of $0.286. This represented a 10-month high for the memecoin, which has been in a bearish slump since October 2025, much like most of the crypto market.

AMBCrypto reported that USELESS added 5,000 new holders, which showed adoption and can help boost demand even more.

Aggressive spot buying activity and high derivatives trading activity helped sustain the recent move’s momentum. The token had rallied 300% in a week, from $0.06 to $0.265.

In the past 24 hours, Useless Coin was down by 12.1%, with a 20% decline in Open Interest. The overextended bullish market conditions were being met with pushback, and the memecoin could be entering a pullback phase.

How deep can the USELESS price retracement go?

The CMF on the daily timeframe was at +0.36, the highest in the recorded data on Kraken, per TradingView. The OBV has been trending higher since March and has made another strong leg higher in recent weeks.

Buying pressure was intense; the indicators agreed. So was the momentum, which might already be overextended.

With memecoins and parabolic rallies, trying to time the top could be incredibly risky. Holders can instead opt to take profits and try to re-enter long positions in case of a pullback.