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Useless Coin moderator redsol launches new memecoin WEALTH

Useless Coin community moderator redsol has launched a new memecoin called WEALTH, pinning the release inside the project's 61,000-member X community.

Screenshot of a pinned post by redsol announcing the WEALTH memecoin within the Useless Coin Community on X.
Image: @WhaleInsider

redsol (@redsol23), a listed moderator and team member of Useless Coin, announced the deployment of a new memecoin named WEALTH, sharing the token's contract address on X. In his launch post, redsol claimed he previously took USELESS to hundreds of millions and encouraged users to buy and hold the new token.[6]

Outlets BSCN and Whale Insider reported that redsol is a member of the USELESS team, though one Whale Insider post initially referenced the handle @reddol. A screenshot of the Useless Coin Community on X shows redsol listed as a moderator alongside fellow moderator useless coin and administrator smolpepe. Whale Insider reported that the WEALTH launch post was pinned to the top of the 61,000-member community, sending notifications to members upon opening the app.[1][2][3][5]

Market observers quickly drew comparisons between the two tokens. Poster coldtrz highlighted the valuation gap, pointing out that USELESS had previously attained a $400 million all-time high and traded at a $130 million market cap, while the newly deployed token stood at a market cap of approximately $300,000.[4][7]

Key facts

  • redsol (@redsol23) deployed the memecoin WEALTH under contract address 8Mi9E1V2bdPeAaRkR5yxUsAvpzP6UBUEEUrYmgKNpump.
  • redsol is listed as a moderator of the Useless Coin Community on X alongside administrator smolpepe.
  • BSCN and Whale Insider both identified redsol as a USELESS team member, with Whale Insider also using the handle @reddol in an earlier post.
  • The WEALTH launch post was pinned to the top of the 61,000-member Useless Coin Community on X.
  • According to coldtrz, USELESS reached an all-time high market cap of $400 million and traded at $130 million, compared to around $300,000 for the newly launched token.

Sources · 3 sources

  1. WI

    Whale Insider@WhaleInsiderPost on X ·

    JUST IN: $WEALTH launched by USELESS team member is now pinned in their community. All 61,000 Useless members will now receive notifications as they open the X app. https://t.co/S6313EmdWw

    Open source
  2. WI

    Whale Insider@WhaleInsiderPost on X ·

    JUST IN: $USELESS team member @redsol23 launches his own memecoin, $WEALTH. https://t.co/GF0HQwMBMO

    Open source
  3. BS

    BSCN@BSCNewsPost on X ·

    🚨 JUST IN: $USELESS TEAM MEMBER LAUNCHES OWN MEMECOIN @redsol23, a member of the $USELESS team, has launched his own memecoin, $WEALTH https://t.co/Evdh8kVmXS

    Open source
  4. CO

    cold@coldtrzPost on X ·

    So the $USELESS team launched a new coin yesterday Useless is at $130M market cap The new launch is at 300k market cap Am I missing something, or is this extremely undervalued?

    Open source
  5. WI

    Whale Insider@WhaleInsiderPost on X ·

    JUST IN: $USELESS admin and team member @reddol launches his own memecoin, $WEALTH. https://t.co/xzqHq9PbF1

    Open source
  6. CO

    cold@coldtrzPost on X ·

    A $USELESS team member @redsol23 just deployed his own memecoin $WEALTH This is insane https://t.co/tLQ7eDSkuU

    Open source
  7. CO

    cold@coldtrzPost on X ·

    The team from $USELESS ($400M ATH) just made a new coin How is this below $1M lol

    Open source