USELESS coin jumps 27% – Whales are in, but bears aren’t budging – Why?

Key Points

1. USELESS coin surged 27.52% in 24 hours, hitting a new all-time high of $0.2918 before retracing slightly to $0.2819.

2. Top addresses increased their holdings by 38% to 529 million tokens, accounting for 52.96% of the total supply, while exchange balances dropped 55.06% to 4.89% of the supply.

3. Derivatives data showed a 228.50% increase in Open Interest (OI) to $10.7 million and a 7.14% rise in Volume to $8.72 million, but the Long/Short Ratio remained below 1 at 0.9376.

4. The Relative Strength Index (RSI) on the daily chart reached 89.29, indicating overbought conditions and potential for a correction, while MACD readings suggested continued bullish momentum.

5. The market cap increased by 31% to $291.79 million, and trading volume spiked 34.62% to $25.44 million, signaling fresh capital inflow.