Useless Coin (USELESS) Rallies 300% in a Week to 10-Month High

The $0.286 High Meets Profit-Taking

Useless Coin (USELESS), a sentiment-driven meme token, delivered one of the sharpest rallies in the altcoin market this week, gaining roughly 300% in seven days and printing a high of $0.286 on September 4 — its strongest level since October 2025. Market data reviewed by the COINOTAG desk shows the asset climbing from about $0.06 to $0.265 across the weekly window, with the move supported by both aggressive spot accumulation and elevated derivatives turnover. Roughly 5,000 new holders joined during the advance, while a wide range of leveraged order types across futures venues kept trading activity elevated through the move. Rapid new-holder growth of this kind typically shows up first in holder counts and circulating supply turnover, and USELESS was no exception as demand broadened beyond early positions.

The momentum has since cooled. Over the most recent 24 hours, USELESS slipped 12.1%, and derivatives open-interest data — the total value of unsettled futures positions — contracted by about 20%. During a rally phase, falling open interest usually means leveraged positions are being unwound or new speculative inflows are slowing, a classic sign of a market digesting an extended move. Chart data from Kraken shows the Chaikin Money Flow indicator at +0.36, among its highest readings of the year, while On-Balance Volume has traced a rising structure since March. Our reading of the flow: genuine buying pressure built the rally, but the weekly pace of gains outran what the derivatives market was willing to fund. Like the NFT collectibles of earlier cycles, meme assets of this type trade on attention rather than cash flows, which makes the pullback risk sharper. Traders are now watching $0.213 and $0.176 as nearby demand shelves, with $0.131 marking the low of the prior downtrend as the deeper reference level.

CPI Week in Focus

Attention now shifts to macro. The trading week of September 7-11 opens with US markets closed for the Labor Day holiday, then builds toward two inflation prints with outsized relevance for risk assets: August PPI on September 10 and August CPI on September 11. Last week equities finished essentially flat — the S&P 500 added 0.09%, the Nasdaq Composite rose 0.40%, and the Dow fell 0.27% — as mixed Federal Reserve messaging whipsawed the bond market. New York Fed President John Williams and Governor Christopher Waller both argued publicly for a rate hold, saying no case exists for further increases if inflation stays at current levels. Their comments partially reversed the rise in Treasury yields that followed Fed Chair Kevin Warsh's Jackson Hole remarks signaling openness to hikes. Strong August nonfarm payrolls then pushed yields back up, and the 10-year Treasury yield touched 4.821% — its highest since November 1, 2023. Consensus expects August CPI up 0.4% month over month on the headline and 0.2% on core, or 3.4% and 2.4% year over year respectively. CFRA chief investment strategist Sam Stovall described a tug-of-war between investors fearing a hike and those expecting the Fed to wait, noting that with few other catalysts this week, traders will concentrate on the hard data. Ameriprise strategist Anthony Saglimbene warned that long-end yields have become the market's underlying risk, and that a 10-year approach to 5% would be difficult for markets to absorb. If inflation runs hot and the Fed looks past it, the bond market may deliver the warning itself — a dynamic that lifts real yields and historically weighs on hard assets, from platinum to the most speculative corners of crypto. Readers tracking the market in real time can follow live spot and futures prices on Bybit.

Risk Appetite Hangs on the Data

The USELESS surge and this week's CPI release are two expressions of the same underlying variable: the price of liquidity and risk appetite. Meme tokens — unlike a governance token, which carries protocol-level claims — reprice purely on sentiment, which is why open-interest records and order-flow data are the most load-bearing evidence for judging whether a rally has fuel left. In USELESS's case, the combination of record money-flow readings and a 20% open-interest contraction tells us the speculative layer is already thinning even as spot holders added. A core CPI print at or below 2.4% keeps the hold camp in control and gives high-beta assets room; a hot number would hit the most sentiment-dependent names first, with the $0.213 and $0.176 zones the first test of whether spot demand can stand on its own.