USELESS Coin Price Surges as Bonk Guy Drives Meme Coin FOMO

USELESS recorded an intraday rebound of more than 60% on September 4 as public support from trader “Bonk Guy,” rising trading volume and meme coin FOMO attracted buyers.

At 14:08 UTC+8, MEXC data showed USELESS near $0.2255, up approximately 20.45% over 24 hours. The token had traded between $0.1413 and $0.2314, meaning its rise from the daily low to the high exceeded 63%.

USELESS also gained more than 237% over seven days, while its market capitalization reached approximately $225 million. The USELESS/USDT spot market on MEXC recorded about $26.6 million in 24-hour turnover at the time of checking.

This article refers to the Solana-based USELESS token with the contract address ending in Mbonk, not other projects using the same name.

Bonk Guy Turned an Existing Rally Into a FOMO Event

Bonk Guy, also known as Unipcs, has repeatedly posted bullish views about USELESS. He became widely followed after publicly documenting a highly profitable BONK position, giving his later meme coin comments considerable influence among speculative traders.

On September 1, he said his conviction in USELESS was stronger than his earlier enthusiasm for BONK. More recent posts compared USELESS with the early stages of previous large meme coin rallies and suggested that a new all-time high could arrive sooner than expected.

Those comments spread while the token was already gaining momentum. This timing matters: a prominent endorsement has a greater effect when price and volume are moving in the same direction because traders interpret the market action as confirmation of the KOL’s view.

The result is a feedback loop. The endorsement brings attention, rising prices attract momentum traders, and further gains create urgency among buyers who fear missing the move.

Bonk Guy is not a neutral observer, however. On-chain monitoring indicates that USELESS is among his major positions. His public statements should therefore be understood as the view of an investor who benefits if the token rises.

Spot Buying and Short Liquidations Amplified the Move

The rally was supported by a sharp increase in trading activity rather than price movement alone.

In comments reported on September 4, Bonk Guy cited more than $130 million in 24-hour spot volume, over $1.3 billion in perpetual contract volume and more than $3 million in short liquidations. These figures came from his public comments and may vary across data providers.

The difference between spot and perpetual volume is important. Heavy derivatives activity can accelerate a rally because traders can take larger positions with less initial capital.

When the price rises against leveraged short positions, some traders are forced to buy back USELESS to close or liquidate those positions. That forced buying adds momentum even if it does not represent new long-term demand.

It can work just as quickly in reverse. If leveraged long positions become crowded and the price falls, liquidations can turn a normal correction into a much sharper decline.

USELESS Has No Fundamental Catalyst Behind the Rally

USELESS is deliberately built around the absence of utility. The Solana-based token presents itself as a satire of crypto projects that attach ambitious promises and complicated roadmaps to speculative assets.

Its disclosed supply is close to one billion tokens. The project does not give holders ownership, revenue rights or a claim on an underlying asset. Its market value is mainly determined by attention, community participation and the willingness of traders to hold the meme.

That makes the current catalyst easy to identify. USELESS is not rising because of a product release, earnings growth or a protocol upgrade. It is rising because a recognizable trader is promoting it while buyers, short sellers and social-media communities compete around the same narrative.

This does not make the move unreal. Attention can produce genuine demand and liquidity. It does mean the rally has fewer fundamental anchors if market interest weakens.

Volume Makes the Rally Stronger, but Not Necessarily Safer

From MEXC’s perspective, USELESS is showing a stronger setup than a meme coin that rises on thin trading. Price and volume increased together, showing that the move attracted real participation.

The more cautious signal is the reported dominance of perpetual trading. When derivatives turnover is many times larger than spot activity, leverage and liquidations may be contributing heavily to the price move.

The next confirmation is not another bullish post. It is whether spot demand remains active after social-media attention cools and whether the token can hold participation without relying on repeated short squeezes.

If spot activity remains high while derivatives leverage becomes less dominant, the rally may have a broader base. If volume quickly falls after the KOL-driven surge, recent buyers may compete for limited exit liquidity.

Traders should also separate Bonk Guy’s previous results from the expected return on USELESS. Success in one meme coin does not make future calls reliable, particularly when entry prices and position sizes differ.

What Could End the USELESS Rally?

The immediate risk is a change in attention. Meme coin traders often move together, but they can also leave together when another token becomes more popular.

A reduction in Bonk Guy’s position or a less bullish public message could affect sentiment because his support has become part of the current narrative. Even an unverified rumor about his holdings may cause volatility.

Broader Solana meme coin conditions also matter. If capital rotates away from the sector, USELESS may struggle to maintain its current volume regardless of community activity.

Finally, the token’s rapid seven-day gain has created a large difference between early holders and recent buyers. Earlier entrants can take profits while remaining profitable, whereas traders entering after the surge have less room to absorb a reversal.

FAQ

Did USELESS rise more than 60% in 24 hours?

USELESS rose more than 60% from its 24-hour low of about $0.1413 to its high near $0.2314. At 14:08 UTC+8 on September 4, its rolling 24-hour change on MEXC was approximately 20.45%, so the 60% figure describes the intraday low-to-high move.

Why is USELESS coin rising?

The main drivers are Bonk Guy’s bullish promotion, rapid social-media attention, higher spot and derivatives volume, and the liquidation of short positions. No major fundamental product catalyst was identified.

Is Bonk Guy invested in USELESS?

Public on-chain monitoring indicates that USELESS is among his major meme coin positions. His statements should not be treated as independent investment research.

Can USELESS return to its all-time high?

It is possible, but not guaranteed. A stronger case would require continued spot demand and stable liquidity after the current KOL-driven attention fades. Heavy dependence on leverage would increase reversal risk.

Risk Warning

USELESS is a meme coin without ownership, income or redemption rights. Its price depends heavily on attention and speculative demand. KOL endorsements may come from people who already hold the token, while leveraged derivatives can accelerate both rallies and declines. Verify the Solana contract address carefully, as several unrelated tokens use the USELESS name.

Research checked outside article body: MEXC USELESS market data and listing announcement, USELESS project disclosures, Bonk Guy’s public statements, Arkham wallet monitoring, CoinGecko market data.