TURBO Soars 30 Percentage Following Coinbase Listing, Hits All-Time High

TURBO Soars 30 Percentage Following Coinbase Listing, Hits All-Time High

TURBO, the Ethereum-based toad-themed meme coin, has surged over 30%, reaching a record high of $0.0143 on December 12, following its listing on Coinbase, the largest cryptocurrency exchange in the United States.


At the time of writing, TURBO is trading at $0.01283, reflecting a 16.1% daily increase. Its market capitalization stands at $893 million, putting it just $107 million away from crossing the $1 billion mark. The surge came amid heightened trading activity, with TURBO’s daily trading volume jumping 62.9% to exceed $956 million, according to crypto.news.


Coinbase Listing Spurs Momentum

TURBO’s listing on Coinbase—a tier-1 exchange with a daily trading volume of over $9.1 billion—has been the primary catalyst for its rally. Shortly after, it was also added to Coinbase Advanced, the platform designed for experienced traders, further boosting its visibility and attracting renewed interest. The meme coin quickly began trending on Google, signaling widespread attention from the crypto community.


Other recent listings on popular exchanges like X-change and Biconomy have also contributed to TURBO’s upward momentum. This surge coincided with a broader rally in meme coins, which saw the meme coin market grow by 8.7% in the past day to $138.5 billion.


Open Interest Signals Growing Investor Activity

Data from Coinglass reveals that Open Interest in TURBO futures across exchanges has steadily increased, rising from $56.93 million on Wednesday to $104.97 million on Thursday. This growth indicates new capital inflows and heightened buying activity, suggesting sustained investor interest in the token. The steady rise in Open Interest since late November has supported TURBO’s recent rally.


Whale Sell-Offs Pose Potential Risk

Despite TURBO’s impressive gains, the rally faces potential headwinds. According to data from IntoTheBlock, whale holders have begun offloading the asset. The whale holder netflow shifted from an inflow of $403,000 on December 9 to an outflow exceeding $6.1 million on December 11.


Large-scale sell-offs by whales often signal profit-taking or panic moves, which can trigger downward pressure on prices. Historical trends show similar behavior driving price corrections in other assets, such as AAVE, which dropped 14% over five days after hitting a local high in October.


The Road Ahead for TURBO

While the Coinbase listing and broader meme coin rally have fueled optimism around TURBO, the whale sell-offs highlight the volatility and risks inherent in the meme coin market. Traders and investors will be watching closely to see if TURBO can maintain its momentum or face a pullback in the coming days.

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