{"id":648486,"date":"2024-10-17T17:00:16","date_gmt":"2024-10-17T17:00:16","guid":{"rendered":"https:\/\/ktsl888.com\/?p=648486"},"modified":"2024-10-17T12:49:51","modified_gmt":"2024-10-17T12:49:51","slug":"turbo-selling-ai-meme-coin-to-exit","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/meme-coins\/turbo-selling-ai-meme-coin-to-exit\/","title":{"rendered":"Turbo Team Selling After The AI Meme Coin Flies To New All-Time High: Time To Exit?"},"content":{"rendered":"

Turbo is trending at around all-time highs. The upswing started in mid-September and initiated a move up that saw the AI meme coin break above local resistances, which is now supported and propelling valuation to record highs. At press time, TURBO is changing hands at $0.010 but is down nearly 20% from this week’s highs.<\/span><\/p>\n

Turbo Team Selling: Time To Exit?<\/span><\/h2>\n

According to Lookonchain <\/span>analysts<\/span><\/a>, the retracement from all-time highs at $0.013 early this week could be primarily due to the team dumping. The team has been sending tokens to Binance and OKX, leading to concerns about whether they are exiting the project and dumping on holders.<\/span><\/p>\n

Related Reading: Ethereum Whales Are Quietly Accumulating\u2014Is A Major Price Breakout Coming?<\/a><\/div>\n

Movements to centralized exchanges are often seen as bearish, signaling the holder’s intention to liquidate. Whether they sold or not remains to be seen at this point. However, after the signal was flagged on October 16, the token trended lower, suggesting a possible supply spike.<\/span><\/p>\n

\"Turbo
Turbo team unloading | Source: @lookonchain via X<\/figcaption><\/figure>\n

To put the numbers into perspective, the team sent 810 million TURBO to Binance and OKX. The dump follows the team’s steady liquidation over the past few months. Since June 5, Lookonchain analysts observed that the team had deposited 1.5 billion TURBO to multiple exchanges. <\/span><\/p>\n

The Turbo daily chart shows that prices rose to $0.009 in late May. The liquidation by the team coincided with this expansion.<\/span><\/p>\n

\"TURBO<\/a>
TURBO price trending upward on the daily chart | Source: TURBOUSDT on OKX<\/a><\/figcaption><\/figure>\n

Prices dropped sharply after sending tokens to centralized exchanges in June, losing over 65%. TURBO found support at $0.0029 before printing higher highs and eventually erupting above May 2024 highs in early October.<\/span><\/p>\n

Is This A Pump-And-Dump Scheme?<\/span><\/h2>\n

If past trends guide and the team actively sells, the probability of TURBO sliding from its recent swing high remains elevated. This contraction may trigger a massive sell-off, pushing prices to $0.007\u2014or worse.<\/span><\/p>\n

Whether the team is “pumping and dumping” remains only a speculation. However, if the team makes a statement, it could assuage fears and possibly prop up prices. For now, no definitive evidence supports any allegations of a possible pump-and-dump.<\/span><\/p>\n

Related Reading: Bitcoin Coinbase Premium Is Negative Despite $68,000 Rally: What It Means<\/a><\/div>\n

Earlier this month, the United States Department of Justice (DoJ) leveled charges against GotBit<\/a>, a meme coin market maker, accusing them of, among others, wash trading and involvement in pump-and-dump schemes. <\/span><\/p>\n

Feature image from iStock, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Turbo is trending at around all-time highs. The upswing started in mid-September and initiated a move up that saw the AI meme coin break above local resistances, which is now supported and propelling valuation to record highs. At press time, TURBO is changing hands at $0.010 but is down nearly 20% from this week’s highs. Turbo Team Selling: Time To Exit? According to Lookonchain analysts, the retracement from all-time highs at $0.013 early this week could be primarily due to the team dumping. The team has been sending tokens to Binance and OKX, leading to concerns about whether they are exiting the project and dumping on holders. Related Reading: Ethereum Whales Are Quietly Accumulating\u2014Is A Major Price Breakout Coming? Movements to centralized exchanges are often seen as bearish, signaling the holder’s intention to liquidate. Whether they sold or not remains to be seen at this point. However, after the signal was flagged on October 16, the token trended lower, suggesting a possible supply spike. To put the numbers into perspective, the team sent 810 million TURBO to Binance and OKX. The dump follows the team’s steady liquidation over the past few months. Since June 5, Lookonchain analysts observed that the team had deposited 1.5 billion TURBO to multiple exchanges. The Turbo daily chart shows that prices rose to $0.009 in late May. The liquidation by the team coincided with this expansion. Prices dropped sharply after sending tokens to centralized exchanges in June, losing over 65%. TURBO found support at $0.0029 before printing higher highs and eventually erupting above May 2024 highs in early October. Is This A Pump-And-Dump Scheme? If past trends guide and the team actively sells, the probability of TURBO sliding from its recent swing high remains elevated. This contraction may trigger a massive sell-off, pushing prices to $0.007\u2014or worse. Whether the team is “pumping and dumping” remains only a speculation. However, if the team makes a statement, it could assuage fears and possibly prop up prices. For now, no definitive evidence supports any allegations of a possible pump-and-dump. Related Reading: Bitcoin Coinbase Premium Is Negative Despite $68,000 Rally: What It Means Earlier this month, the United States Department of Justice (DoJ) leveled charges against GotBit, a meme coin market maker, accusing them of, among others, wash trading and involvement in pump-and-dump schemes. Feature image from iStock, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":539922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91895],"tags":[10151,93220,7106,93221,5658,88238,93219,93086],"class_list":["post-648486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-meme-coins","tag-ai","tag-ai-meme-coin","tag-doj","tag-gotbit","tag-pump-and-dump","tag-turbo","tag-turbo-price","tag-turbousdt"],"acf":[],"yoast_head":"\nTurbo Team Selling After The AI Meme Coin Flies To New All-Time High: Time To Exit?<\/title>\n<meta name=\"description\" content=\"Turbo team is selling, sending more tokens to Binance. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/ktsl888.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Turbo Team Selling After The AI Meme Coin Flies To New All-Time High: Time To Exit?","url":"http:\/\/ktsl888.com\/meme-coins\/turbo-selling-ai-meme-coin-to-exit\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/meme-coins\/turbo-selling-ai-meme-coin-to-exit\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/iStock-1412367772-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/iStock-1412367772-1.jpg?fit=2359%2C1270"},"articleSection":"Meme coins","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ai","ai meme coin","doj","gotbit","pump and dump","turbo","turbo price","turbousdt"],"dateCreated":"2024-10-17T17:00:16Z","datePublished":"2024-10-17T17:00:16Z","dateModified":"2024-10-17T17:00:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Turbo Team Selling After The AI Meme Coin Flies To New All-Time High: Time To Exit?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/meme-coins\\\/turbo-selling-ai-meme-coin-to-exit\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/meme-coins\\\/turbo-selling-ai-meme-coin-to-exit\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1412367772-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-1412367772-1.jpg?fit=2359%2C1270\"},\"articleSection\":\"Meme coins\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ai\",\"ai meme coin\",\"doj\",\"gotbit\",\"pump and dump\",\"turbo\",\"turbo price\",\"turbousdt\"],\"dateCreated\":\"2024-10-17T17:00:16Z\",\"datePublished\":\"2024-10-17T17:00:16Z\",\"dateModified\":\"2024-10-17T17:00:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/iStock-1412367772-1.jpg?fit=2359%2C1270","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/648486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=648486"}],"version-history":[{"count":3,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/648486\/revisions"}],"predecessor-version":[{"id":648505,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/648486\/revisions\/648505"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/539922"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=648486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=648486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=648486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}