Useless Coin: A Risky Trap for New Retail Investors
If you're a new retail investor thinking about jumping into Useless Coin, it's important to understand what you're really getting into. On the surface, this coin may look like a success — as of July 29, it shows a market cap of $292 million and a price of $0.2925. But the reality behind the numbers tells a different story.
Recently, Useless Coin has gained popularity across social media platforms like X (Twitter), with influencers posting hype-driven content. But this buzz may not be organic — many of these posts seem designed to attract new retail investors who unknowingly provide exit liquidity for early whale investors.
Breakdown of Holders
Total holders: Around 28,000
Retail investors (26,984 addresses) hold only about 10% of the supply (~$29.32 million worth)
Whale wallets (93) control 44% of the supply (~440 million tokens)
Dolphin wallets (962) hold another 35% (~349.5 million tokens)
Together, whales and dolphins control roughly 80% of the total supply — about 800 million tokens. Most of these tokens were bought in May and June, with an average price around $0.02. Some top wallets are already sitting on profits of over $30 million.
The Real Risk
These early buyers now need new investors to buy the coin at higher prices, so they can sell their massive holdings and secure profits. That means if you’re buying now, there's a high chance you're entering near the top while they’re preparing to exit.
What’s Next?
If you're feeling like you missed out on buying early — don’t worry. There are other opportunities that whales are reportedly rotating into:
KingNet AI
Price: $0.005798
Market Cap: $5.79 million
Project 89
Price: $0.01136
Market Cap: $11.36 million
Both of these tokens are at early stages and currently being accumulated by the same whales that pumped Useless Coin. They’re still cheap and may see hype in the near future, especially when listed on major exchanges.
