Lookonchain
A newly created wallet spent 2.28 million USDC to buy 6.64 million USELESS tokens at an average price of $0.34, with the transaction landing seven hours ago.
The wallet (7LK2oT) was opened specifically for this purchase, which is the detail on-chain traders focus on. A fresh address taking a seven-figure position reads as a deliberate new entry rather than tokens shuffling between existing holders.
Why it matters
Whale accumulation is one of the most-watched signals in the memecoin sector. USELESS trades on Solana, where order books are thin enough that a single $2.28M sweep can move price on its own, and large fresh-wallet entries tend to pull retail attention in behind them.
Market impact
The $0.34 entry gives the market a reference point for this whale's breakeven. The next signal is behaviour: further accumulation from 7LK2oT reinforces the bid, while distribution into strength flips the read. Memecoin flows reverse as fast as they arrive, so size plus freshness is a signal, not a verdict.
Frequently asked questions
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What did the new wallet buy?
The wallet spent 2.28M USDC to buy 6.64M USELESS tokens at an average price of $0.34, with the purchase hitting the chain seven hours before it was flagged on-chain.
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Why does a fresh wallet matter for this trade?
A newly created wallet making a large single purchase suggests a deliberate new position rather than tokens being moved between existing holders, which is why traders weight fresh-wallet entries heavily.
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What is USELESS and where does it trade?
USELESS is a memecoin trading on Solana, a sector where liquidity is thin and large single orders can move price noticeably.
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How significant is a $2.28M purchase in this market?
It is a seven-figure order into a memecoin order book. In thin Solana memecoin liquidity, buys of that size can move price on their own.
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What should traders watch from wallet 7LK2oT next?
Whether the wallet accumulates more USELESS or begins distributing into strength, since fresh whale entries on memecoins often precede sharp moves in either direction.
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