$USELESS This -15.17% daily candle—placed in the context of a +348% 30-day run—looks more like a high-level handoff than the end of a trend. But what truly worries me isn’t the drop; it’s the volume.
Look at the details: On September 5, when it surged to $0.264, the daily volume was $231M. On September 23, when the price briefly touched $0.345, volume was only $117M. It’s still 32% away from the ATH, yet volume has already been cut in half. This suggests that the main force behind the 30-day explosive rally had already partially withdrawn in early September; what’s left is a battle over existing liquidity among short-term traders. With a market cap of $293M and a meme coin ranked
#147 , oxide is held up entirely by narrative. In this phase, the worst fear isn’t a dump—it’s that no one will step in to buy.
My view is:
$USELESS will likely keep chopping downward in the short term, with a decent chance of revisiting the $0.21–$0.23 range. Unless the trading volume over the next three days climbs back above $150M, any rebound will just be a way of handing out shares to the people who got there earlier.
What’s the variable most likely to overturn this thesis? It’s not a specific positive news announcement—meme coins don’t lack for news. Maybe a giant whale address starts accumulating again, or maybe an exchange suddenly lists futures. Which scenario do you think would make the premise of “insufficient volume” no longer hold? Tell me—we’ll validate it.