dankcoldturkey@dankcoldturkey
Memecoin fundamentals are real, and $USELESS is once again leading the charge in some of the most important metrics. It's no surprise that it just did a ~75% move off the lows as volume always proceeds price. And based on the data below, it looks primed for another aggressive move soon.
$USELESS is crushing its peers on Coinbase- relative metrics —its 24h Coinbase volume equals ~6.7% of its market cap, about 10x+ higher than the next best (BONK at 0.7%). Total Vol/MC at 51% shows massive turnover for its size, and 13% of total volumes are done on Coinbase which stands far above the competition which lets you know its retails meme of choice.
Make no mistake about it, retail will always come back to memecoins on the first sign of a crypto rally. That's because there are countless stories of memecoins changing peoples lives forever, where they can turn a couple hundred dollars into serious life changing money. Thats because at this stage, buying BTC at $70k will only give you a few x return at best. Sure, its still a good investment, but memecoins are viewed as the highest return upside investment for people who don't have a high paying job or lucrative career path the opportunity to not have to work until they are 65+ to retire.
We are already seeing plenty of signs of a memecoin ressurgence and $USELESS is showing metrics of a billion dollar memecoin but priced at just $50MM.
