Turbo is exploding as investors set their sights on AI-related investments. It’s currently up 19% this week and 60% this month – so is it too late to buy?
Meanwhile, new meme coin Pepe Unchained is showing serious strength as its presale nears $21 million.
Turbo Primed For Next Leg After Establishing Support In Price Discovery
Turbo is forming a bullish structure on the lower time frame, which indicates the next leg up is on the horizon.
It created a new all-time high (ATH) last week and has since cooled off. However, as the price chart below shows, it has begun to show strength, creating a higher low after consecutive lower lows.
Should Turbo’s price rally from the charted support level, we could well see an attempt at new highs in the coming days.
However, we must also note that after creating a new ATH this week, a deeper retracement is cannot be ruled out.
Adding to this is jitters that the market is becoming overconfident as Open Interest soars to its highest levels since Bitcoin collapsed from $70K to $49K. This could indicate a potential industry-wide flush is on the horizon.
Open interest has officially surpassed the level it was at before the last drop from 70k to 49k.$BTC pic.twitter.com/BklNneNf3O
— CrediBULL Crypto (@CredibleCrypto) October 18, 2024
But returning to Turbo specifically, what are analysts saying?
Quang Avenue is confident that Turbo will rally after breaking a trendline resistance, which signals bullish momentum.
Quang Avenue targets more than a 2x gain to $0.025.
$TURBO #TURBO Buy Now! 🚀 pic.twitter.com/Hz7lR2faHp
— Quang Avenue (@Quang22758929) October 19, 2024
The primary driver behind Turbo’s success is its claim as the first AI-created meme coin.
However, this claim has been disputed for multiple reasons. Hanzo Yasunaga argues that another AI-created meme coin, Kibshi, was launched first.
Data never lies… $kibshi is first ai generated meme
— Hatto Hanzō (@HanzoYasunaga) October 5, 2024
Not $turbo pic.twitter.com/FeupiWmH7W
Others say that Turbo was ‘prompted’ and, therefore, not an organic AI creation, unlike newly launched Goatseus Maximus.
$GOAT ultimately flips $turbo because:
— Phoofyface (@Phoofyface) October 16, 2024
1. $GOAT was an organic conception from AI. $turbo was promted and forced into birth by a human.
2. $GOAT is funny. $turbo is not.
3. The creator, face and main shiller is @truth_terminal. Not flawed like a human. Not fudable like a human.
Although Turbo’s AI roots are contested, it’s still drawing attention amid the AI sector growth, primarily fueled by expectations for AI-leader Nvidia’s stock price to continue surging.
However, Turbo is not the only meme coin that is exploding by tapping into a viral narrative.
Another is Pepe Unchained, which will be the first meme coin with its own layer 2 blockchain.
Pepe Unchained Has Raised More Than Any Other Meme Coin – Will It 10X On Launch?
Pepe Unchained separates itself from other meme coins by solving a real industry issue.
It has harnessed the viral allure of meme coins to raise over $20 million at presale for an Ethereum layer 2 blockchain.
It’ll be called ‘Pepe Chain’ and will be 100x faster and far cheaper than the Ethereum main network.
Moreover, it will include features such as a block explorer, a staking mechanism, a decentralized exchange, and more.
The project is growing exponentially, not just in terms of cash raised but also in terms of ecosystem developments. For instance, the team recently announced that they’re accepting grant applications, which will pay builders to launch projects on the chain.
While tackling Etheruem’s pressing scalability issue, Pepe Unchained’s memetic twist adds something we’ve never seen before.
It’s a concept that has gripped thousands of traders, including some of crypto’s top players.
For instance, analyst ClayBro noted that the broader crypto market is currently in an uptrend, priming Pepe Unchained “to explode.”
Currently, investors can buy $PEPU $0.0109, but this will rise throughout the ICO.