Turbo Price Prediction: TURBO Is Top Gainer In A Month With 1,565% Eruption, But Is This Latest AI Meme Coin A Better Pick?

On Jun 1, 2024

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The Turbo price has skyrocketed 1,565% in the past month to trade at 0.00833 at 7:12 p.m. UTC, according to GeckoTerminal.

That made it the top gainer for the period among the 200 biggest cryptos by market capitalization.

Some analysts now predict that the TURBO price could go all the way to $0.1.

The $TURBO parabolica will not stop before $0.10, just accept it.#Memecoin season is here. pic.twitter.com/PK58kA6T14
— STEPH IS CRYPTO (@Steph_iscrypto) June 1, 2024

Turbo Price Outlook

Analysing Turbo price charts, we see a retraction from the recent bullish breakout from the bear channel. This suggests a potential continuation of the downward move once the price breaks below the flag’s lower trend line.

Looking at other indicators, we see that the Money Flow Index (MFI) (57.23) is slightly above the midpoint at 50, indicating a moderate inflow of money into the asset. An MFI value over 50 typically suggests that buying pressure is prevailing.

On the other hand, we see that the Average Directional Index (ADX) (25.85) value indicates a somewhat strong trend. Values above 25 generally suggest that a trend is strong enough for trend-trading strategies, but in this context, the trend strength is beginning to wane as it’s not far above 25.

The Commodity Channel Index (CCI) (~60) indicates that the price is somewhat above its average, considered relatively normal without signaling extreme conditions. The oscillation of CCI around zero also suggests that the price is in a consolidation phase.

While the market showed previous strength, current indicators, and pattern formation suggest a cautious approach due to the potential for a downward continuation, as suggested by the current Turbo price movements.

4-hour TURBO/USDT Chart | Source: TradingView

While the Turbo price drops, WienerAI, a dog-themed meme coin ICO, has zoomed past $3.7 million in funds raised.

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— WienerAI (@WienerDogAI) May 28, 2024

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Crypto Boy, a YouTuber with over 40K subscribers, says that $WAI has the potential to soar 100X after it launches.