Useless Shows Similar Pre-2023 Surge Pattern as Pepe

Useless (USELESS) has been analyzed to have a similar pre-surge trajectory in 2023 as Pepe (PEPE). The structure of trading volume, the expansion of open interest, and initial relative strength were presented as key comparative grounds. Trader Bonk Guy (Unipcs) stated on the 8th that Useless has shown a trend that outperformed the overall market from the beginning. He has been explaining the similarities between Useless and Pepe for months, claiming that the way trading volume is formed and the increase in open interest are similar for both assets. Open interest refers to the total number of outstanding futures and derivatives contracts that have not been settled, and when it increases alongside trading volume, it can indicate greater market participation and the expansion of leveraged positions. Bonk Guy also mentioned market reactions based on market capitalization ranges, explaining that people who were not interested when the market cap was $50 million began buying in the $200 million range, and more participants could enter once it exceeds $1 billion. He added that rising prices make assets appear more attractive, but this does not evaluate the actual use case or long-term value of Useless. Bonk Guy stated that the trend of Useless is becoming more pronounced, similar to that of Pepe. Useless surged 57% in 24 hours on the 4th, reaching a market cap of $227 million. Bonk Guy holds 15.9 million Useless tokens, and it is noted that his statements and interests may overlap, which is a limitation of the analysis. Whether the initial patterns of Useless and Pepe will actually continue depends on changes in trading volume and open interest, as well as the overall market's risk appetite.

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