The official website of Useless Coin states that the meme coin USELESS has no utility. This is hinted at by the name of the coin: Useless translates from English as "useless". The token was launched at the end of May through LetsBONK Fun — a platform for generating "meme" coins on Solana. The Useless Coin team has not presented a roadmap or technical documentation.

In early June, the price of USELESS reached an all-time low of $0.004. However, the meme coin quickly recovered and demonstrated impressive growth to an ATH near $0.10. The market capitalization of the coin exceeded $101.9 million.