Useless Coin (USELESS) reached a high of $0.286 on Friday, September 4th, marking a 10-month high for the memecoin following a bearish slump that began in October 2025. The token gained 3,000 new holders, reflecting increased adoption that could further support demand.
The recent upward movement was sustained by aggressive spot buying and high derivatives trading activity, with the token rallying 300% over the course of a week from $0.06 to $0.265. However, in the subsequent 24 hours, the price dropped by 12.1% alongside a 20% decline in Open Interest, indicating that overextended bullish conditions were meeting pushback as the asset entered a potential pullback phase.
On the daily timeframe, the Chaikin Money Flow (CMF) registered at +0.36, representing the highest recorded data on Kraken according to TradingView. Meanwhile, the On-Balance Volume (OBV) has trended upward since March, posting a strong leg higher in recent weeks. On the 2-hour chart, the Relative Strength Index (RSI) showed cooling conditions alongside a hidden bullish divergence.
Demand zones to watch in the event of a deeper pullback include the $0.213 and $0.176 levels, with the $0.130 to $0.131 range serving as a critical support area and a potential buying opportunity. Analysts note that memecoin rallies, driven primarily by sentiment rather than fundamentals, carry the risk of retracing the entire move.
