Solana

Useless Coin

Nansen

Chainlink

Coin

Useless Coin’s price continued its strong rally this week, reaching a record high even as the broader crypto market retreated.
Useless Coin (<a href="https://crypto.news/price/useless-coin/" rel="noopener noreferrer nofollow">USELESS</a>), a Solana (<a href="https://crypto.news/price/solana/" rel="noopener noreferrer nofollow">SOL</a>)-based meme coin, rose to a high of $0.25, up nearly 1,000% from its May low. The surge has pushed its market capitalization to $240 million.
As crypto.news <a href="https://crypto.news/useless-coin-price-hits-new-all-time-high-amid-whale-buying/" rel="noopener noreferrer nofollow">wrote recently,</a> the rally has been fueled by fear of missing out among retail traders and whales. Such speculative pumps are common among newly launched tokens.
You might also like: <a href="https://crypto.news/chainlink-price-sends-mixed-signals-as-exchange-balances-fall/" rel="noopener noreferrer nofollow"> Chainlink price sends mixed signals as exchange balances fall </a>
However, data from Nansen suggests that a reversal may now be underway. Smart money investors have significantly reduced their holdings, which have dropped to 11.4 million USELESS tokens from 24 million on June 4.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="2404" height="1040" src="https://crypto.news/app/uploads/2025/07/Screenshot-2025-07-02-at-1.32.40 PM.png" alt="Useless Coin smart money transactions" class="wp-image-14393641">
 <figcaption class="wp-element-caption">
 Useless Coin smart money transactions | Source: <a href="https://app.nansen.ai/token-god-mode?tokenAddress=Dz9mQ9NzkBcCsuGPFJ3r1bS4wgqKMHBPiVuniW8Mbonk&amp;chain=solana&amp;tab=smart-money" target="_blank" rel="noopener noreferrer nofollow">Nansen</a>
 </figcaption>
</figure>
Nansen defines “smart money” as individual or institutional wallets with a strong track record of profitable trading. Additional data shows that public figures have also trimmed their USELESS holdings. Their total now stands at 32.4 million tokens, down from 70.96 million in June.
Whale activity shows a similar trend. Whale holdings have declined from a peak of 433 million tokens in June to 389 million currently. These reductions across sophisticated investor segments suggest increasing sell pressure, which could trigger a reversal.
Another bearish signal comes from the futures market. According to CoinGlass, the weighted funding rate has remained in negative territory throughout the recent rally. A negative funding rate indicates that traders expect the token’s price to decline.
<h2 class="wp-block-heading" id="useless-coin-price-analysis">Useless Coin price analysis</h2>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="3574" height="1988" src="https://crypto.news/app/uploads/2025/07/Useless-Coin-Price.png" alt="Useless Coin rally at risk as whales and smart money start selling - 26" class="wp-image-14393640">
 <figcaption class="wp-element-caption">
 Useless price chart | Source: <a href="https://crypto.news/price/useless-coin/" rel="noopener noreferrer nofollow">crypto.news</a>
 </figcaption>
</figure>
The eight-hour chart shows that Useless Coin has been in a sustained uptrend over the past few weeks. As a result, it now trades well above its 50-period moving average, increasing the risk of mean reversion. Mean reversion refers to an asset returning to its historical average after an extended move.
Additionally, the Relative Strength Index has formed a bearish divergence pattern, developing a descending channel even as price has moved higher. Taken together, these signals suggest that a reversal is likely as selling intensifies across whales, retail traders, and smart money. If this plays out, the next key level to watch will be $0.10.
You might also like: <a href="https://crypto.news/bitcoin-investors-sit-on-1-2-trillion-in-profits-as-hodling-dominates-glassnode/" rel="noopener noreferrer nofollow"> Bitcoin investors sit on $1.2 trillion in profits as HODLing dominates: Glassnode </a>

Useless Coin rally at risk as whales and smart money start selling

Table of Contents

crypto.news

Other articles published on Jul 3, 2025

Bitcoin Set for Breakout? ETF Inflows and Shrinking Exchange Supply Suggest $116K Target

Ethereum and Cardano Lead Development Activity as Crypto Market Rebounds

Ripple applies for US banking license, joining crypto rush for legitimacy

OpenAI Disclaims Tokens in Robinhood’s New Launch

OpenAI Tokens Trigger Controversy with Robinhood’s New Offering

JPMorgan’s Kinexys Pilots Tokenized Carbon Credits With S&P Global

Join our free newsletter for daily crypto updates!