TURBO Coin Surges 30% After Coinbase Listing, But Whale Activity Raises Risks

TURBO, a toad-themed meme coin, surged 30% on Dec. 12. It hit an all-time high of $0.0143 before dropping to $0.01283, up 16.1% in 24 hours.

Meme coin TURBO surged 30% on Monday after hitting an all-time high of $0.0143. The coin, named after the Super Mario Bros. power-up, dropped to $0.01283 by evening, still up 16.1% in 24 hours.

TURBO's market cap reached $893 million on Monday, just $107 million short of the $1 billion mark. The coin's rally began after it was listed on Coinbase, the largest U.S. cryptocurrency exchange.

Coinbase Listing Boosts TURBO Coin The Coinbase listing on Monday morning sparked TURBO's rise. Daily trading volume for the coin jumped 62.9%, reaching $956 million. The listing exposed the coin to a wider audience of traders, increasing demand.

Coinbase also added TURBO to its Advanced platform, which is designed for experienced traders. This further boosted interest and helped make the coin trend on Google.

Other listings on platforms like X-change and Biconomy also added momentum. The broader meme coin market also rallied on Monday, gaining 8.7% in one day to hit $138.5 billion. TURBO's rise also benefited from this market-wide surge.

Interest in TURBO futures has also been growing steadily. Data from Coinglass shows Open Interest rose from $56.93 million to $104.97 million in two days. Rising Open Interest means more funds are entering the market, which signals new buying activity and potential for more price gains.

The broader meme coin market also helped drive more attention to meme coins, which fueled their momentum.

Whale Activity Raises Risks Despite its rise, TURBO faces risks from whale sell-offs. Data from IntoTheBlock shows a shift in whale netflows.

On Dec. 9, there was an inflow of $403,000, but by Dec. 11, this turned into an outflow of $6.1 million. Large sell-offs by whales often lead to price drops, signaling profit-taking or panic.

This is not uncommon. In October, similar activity by whales caused AAVE, another cryptocurrency, to drop 14% in five days. If TURBO faces continued whale sell-offs, its rally could slow or reverse.

TURBO's performance reflects strong demand, but risks remain. Whale sell-offs and market volatility could challenge its growth.

Investors should also watch trading volumes, Open Interest, and whale behavior closely. The coin’s rise is also linked to the meme coin market's broader rally.

While TURBO has potential for short-term gains, its long-term performance is uncertain. Sustained demand and market stability will be key to its future.