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Turbo (TURBO) price prediction

Turbo (TURBO) is a brand-new cryptocurrency that launched in early May 2023. The project calls itself the “future of meme coins.” It claims to offer a revolutionary meme coin featuring its futuristic toad mascot.
Turbo price
Turbo price

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

The project emerged as an experiment in cryptocurrency creation, inspired by artificial intelligence (AI). Its founder turned to the newest version of ChatGPT, known as GPT-4, with a simple challenge — to create the next great meme coin starting with a budget of only $69.

Confident in the AI’s capabilities, the founder pledged to follow GPT-4’s instructions and document the process.

Turbo 1

The result of this experiment is the Turbo token, which has only been around for a few weeks but has already come a long way. It has a unique tokenomics model, fair distribution, no taxes, and crowdfunded launch.

Turbo price right now

Turbo (TURBO) launched on May 4th, 2023, meaning that it has only been around for a limited amount of time as of the time of writing.

After its launch, the token’s price has seen a strong surge, but unfortunately, it has since declined under its value at launch.

At the time of writing, Turbo’s price sits at $00006982, which puts it way below its launch price.

A decline is evidently visible on the charts too, with no major uptrend attempts.

Turbo

At the time of writing, the token ranks as the 947th largest cryptocurrency, with a market cap of $4.43 million.

The token’s circulating supply is the same as its total and max supply, putting all three at 69 billion units.

Its all-time high was achieved on May 6th, when it hit $0.003049. At the time of writing, TURBO’s price is 80% under this level.

However, the token reached its all-time low only a day before hitting the ATH on May 5th. Back then, it sank to $0.0002255. However, the price plunge didn’t reverse ever since, and the downtrend has continued as to date.

Where can I buy Turbo in May 2024?

While Turbo is only a few months old, it has already found its way to several exchanges, including centralized and decentralized ones.

Some of the biggest and most popular platforms that have already listed it include:

  • Uniswap
  • io
  • Huobi
  • Poloniex
  • Bitget
  • MEXC
  • LBank
  • AscendEX
  • CoinEX
  • Hotcoin Global
  • DigiFinex
  • COM
  • Hotbit

This is by no means the entire list even now, and in time, more platforms are likely to list it.

For the moment, the project has not reached the largest exchanges, such as Binance, Coinbase, and the like.

However, it could only be a matter of time before it does. These exchanges typically wait to see if there is demand for the asset before they list it, and for the moment, TURBO is still too new for them to know.

Turbo price history

Turbo went live on May 4th, starting with the price of $0.00064 per token. Unfortunately, the token’s price started going down immediately after hitting the market.

It did not drop too far down, as its decline was initially stopped by a support level at $0.00050. However, it broke this support by the end of the same say, sinking to $0.0002503 early on May 5th.

After reaching this level, however, the token saw a sharp surge which pushed its price up.

As the day progressed, it went from its all-time low back to its launch price of $0.00064, and then it kept going up, ending the day with a price of $0.001338.

The surge continued on May 6th, allowing the token to reach its all-time high. It encountered a number of resistances during this two-day rise, most of which briefly rejected its price before it resumed its upward momentum.

The one at $0.00064 was the first one, followed by the one at $0.0010, $0.0013, and $0.0020. Another resistance presented itself at $0.0025, and this one was strong enough to reject TURBO’s price three times before it was finally broken.

Eventually, the token climbed up to $0.002906. Unfortunately, this was where its price lost momentum and the resistance at $0.0030 rejected it before the asset could properly reach it.

TURBO started crashing, and while former resistances-turned-supports attempted to soften its fall, it still dropped to $0.001735 by the end of the day. Over the next few days, the price kept going deeper and deeper down, with an occasional attempt at recovery.

On May 7th, for example, the price tried to recover multiple times, but the level at $0.00200 went back to being a strong resistance, and it rejected all such attempts.

About 24 hours later, on May 8th, TURBO’s price dropped to $0.0005343, sinking below the launch price once again.

The price bounced back up after that, approaching the resistance at $0.0015, but this level proved impossible to breach. It stopped any attempt by Turbo to do so throughout May 9th.

Turbo

From there on, the price went back spiralling down and is currently trading within the $0.000069 range.

How is the price of Turbo (TURBO) determined?

The price of Turbo is constantly changing, as is the case with all cryptocurrencies, apart from stablecoins.

This comes from the fact that its price is not backed by any commodity, fiat currency, or even a different cryptocurrency. As such, it moves up and down, influenced by a number of factors, including:

Supply and demand

Supply and demand are the biggest influencers of any cryptocurrency’s price. In fact, most other influences lead back to these two.

Supply simply refers to how much of an asset is available on the market, while demand determines how much people want the asset in question. With that being the case, any increase in supply makes the asset less valuable, while any boost in demand makes its price go higher up.

Of course, things are rarely so black-and-white, but this is the basic mechanic of supply and demand.

In the worst-case scenario, the price would crash due to a drop in demand which happens simultaneously with the increase in supply.

However, such extreme circumstances mostly take place during strong bear markets. On the plus side, TURBO has all of its tokens in circulation, meaning that the supply only increases if TURBO holders start selling massively, overwhelming the buyers.

Social media

Social media is another major influencer, but it is worth noting that it doesn’t affect all cryptocurrencies in the same way.

Coins and tokens with great utilities, such as Ethereum, tend to ignore social media mentions. Meme coins, however, are very strongly influenced by this factor.

Like memes, their success is primarily based on their popularity since they rarely have use cases beyond speculative investing and day trading.

One of the biggest examples of the influence of social media comes from Dogecoin, the original meme coin.

Dogecoin was commonly mentioned by Elon Musk, one of the world’s wealthiest people. Musk, who is the acting CEO of Tesla, SpaceX, and Twitter, has often tweeted Dogecoin references in the past, and each of them caused the price of DOGE to go up.

Volume

Another factor that can have influence on the price is the token’s volume. Higher volume indicates that the asset is exchanging hands, which has a positive influence, indicating that there are people who wish to buy and sell it.

High volume means a healthy market, plenty of liquidity, and strong demand, especially when buyers and sellers are evenly matched.

In such situations, the price does not go up due to the buying pressure, but rather, the buy pressure forms after traders see that the coin has a community willing to use it.

Broader crypto market sentiment

Moving on, we have a broader crypto market sentiment, which has a massive impact on all cryptocurrencies, not just meme coins.

The market sentiment tends to push the entire crypto industry in one direction or another.

During bull runs, almost all cryptocurrencies grow simultaneously, as the market sentiment is bullish, meaning that investors are optimistic and willing to buy almost any asset.

On the other hand, bear markets make investors more pessimistic, and they start dumping their assets in fear of losing money.

In doing so, the asset’s price drops simply because the sellers overwhelm the buyers, fueled by fear. Such great bull and bear markets are typically led by Bitcoin, Ethereum, and other crypto giants.

Utility and development

Finally, the last great influence on crypto prices includes utility and development. Now, when it comes to meme coins, they typically do not have almost any utilities, and there has been little development after the project’s launch.

For the most part, this is a factor that strongly influences projects that feature smart contracts, as they allow for the development of DeFi, NFTs, metaverses, various other products, different features of the network, and more.

This is not something that is usually present when it comes to meme coins. However, as an ERC-20 token, Turbo could, in theory, come up with certain utilities that would provide its token with greater use cases and give it a true purpose.

However, in order for this to happen, its community needs to come up with an idea and agree to implement it.

Since the token is still very young, this is not something that can be excluded, as it is still “settling in,” and its users and developers could come up with a plan to turn it into something more.

However, whether something like that will happen still remains to be seen. The project’s roadmap set up 3 goals for Q2 2023, which included:

  • Token creation and smart contract development
  • Website launch
  • Community building and marketing campaign

All of which the project claims to have finished already. However, there has rarely been any string community-building efforts from the team yet.

As for Q3 2023, the project simply said, “Anything can happen,” indicating that it has no real plans for the future — at least, none that it is willing to share at this time.

It is possible that it intends to let its community come up with plans and ideas for what to do next, and that community is still being built. This seems to be the tonality that the project is going forward with for Q4 of 2023.

How often does the price of Turbo change?

Since Turbo is a cryptocurrency, and a meme coin, at that, its price is subject to changes around the clock.

Unlike the stock market and other markets in traditional finance, the crypto industry doesn’t close at the end of the day, over the weekends, or during the holidays.

It is open non-stop, which means that trades are taking place at all hours of the day. As such, its price is influenced constantly, even during the most peaceful periods.

Its price will react to any major or minor trades in one way or another, and the same is true for other factors that affect it, as explained above.

For example, a detailed roadmap revealing some big plan would likely positively affect the token. So would social media mentions by influential personalities or similar entities.

However, such young projects rarely attract attention until they earn their place on the map.

Investing in Turbo

Turbo is one of the new meme coins that have emerged with the intention to stand out from dog-oriented meme coins such as Dogecoin, Shiba Inu, Floki Inu, Baby Doge Coin, and alike.

As such, it would not be surprising if the asset did attract quite a bit of attention. However, if you intend to buy it, there are some questions that you must ask first before making your move. For example:

Is it worth buying Turbo in May 2024?

So far, the price of Turbo has not performed extremely well. Cryptocurrencies in the past have seen strong growth immediately after launch, and it took a while before their prices corrected themselves. However, this project has yet to show such a level of growth once again.

The token has seen a decline after launch, followed by a rapid surge and a correction that left it under its launch price.

As such, Turbo has offered certain opportunities for day traders, but it did not promise anything to long-term investors. It is also worth noting that the market is still fairly fresh out of the crypto winter, making it relatively unstable.

There are no clear trends right now, so navigating the crypto industry as a new token while the industry doesn’t know which way it wants to go is challenging.

Turbo has shown that it has the potential to grow, but it is also still quite new, and it doesn’t have a large and supportive community behind it.

Assuming that it finds and attracts its people, it could surge again soon, which would mean that buying it now could be beneficial. On the other hand, the project is an experiment that came from its founder’s interest in AI.

There are clear parallels with the launch of Dogecoin, which was made because its founder liked a Doge meme and wanted to create a joke cryptocurrency.

Similarly, TURBO’s founder did an experiment with AI, launching Turbo as a result. Does this mean that Turbo will become the next DOGE? Likely not, but it gives it similar potential.

Dogecoin has the first-mover advantage, although Turbo has its own benefits, such as a capped supply.

In the end, traders and investors need to keep these things in mind and make their own decisions.

Who should invest in Turbo?

Turbo is a meme coin created after the instructions provided by the AI. As such, it can possibly be interesting to meme coin enthusiasts, as well as AI enthusiasts, as it can show them what AI in its current state can come up with when tasked to create the next great meme-based cryptocurrency.

Of course, you don’t have to identify as either of those two categories of people to invest in Turbo.

However, you should do enough research to know why you are investing and to have a clear idea of what it is you are expecting from Turbo, including what will happen to it, how high it can go, and like.

It is still too early to determine whether Turbo has potential or not, but at the very least, it is an interesting project since it was created with the AI’s input.

What remains is to see where this unique origin will take it.

How to get started with Turbo Investments?

Turbo 4

Getting started with Turbo is very simple, and all you need to do is follow a handful of short steps. These include the following:

  • Step 1: Download and set up a compatible wallet, such as MetaMask or Trust Wallet.
  • Step 2: Purchase Ethereum on any cryptocurrency exchange and transfer it to your wallet.
  • Step 3: Visit a DEX like Uniswap or one of the other previously mentioned exchanges, and connect your wallet.
  • Step 4: Select Turbo Token (TURBO) as the desired token and enter the amount you want to buy. The token address to import is 0xA35923162C49cF95e6BF26623385eb431ad920D3
  • Step 5: Review the transaction details, confirm the swap, and enjoy your Turbo Token!

Alternatively, you may also purchase the token directly from the CEXs that have listed the project.

Investing in Turbo tokens responsibly

Now that you know how to get started with Turbo, we should also note that it is always recommended to be highly cautious when it comes to crypto investing.

That is even more important to keep in mind when it comes to new cryptocurrencies, such as this one, that have yet to prove themselves and withstand the test of time.

With that being the case, here are some tips that we recommend you keep in mind before buying Turbo:

  • Use a VPN to secure your internet connection and mask your traffic
  • Do as much research into TURBO as possible before you make the final purchase, including reading any Reddit or Twitter discussions
  • Take experts’ advice into consideration, but always make your own decision when it comes to crypto investing
  • Try to find as many exchanges that let you buy Turbo, compare them, and try to determine which one offers the best terms
  • Do not make Turbo the majority of your investment portfolio. Turbo is a new, experimental asset, and it cannot be described as a safe asset to put all of your money into. No asset can.
  • Create technical and fundamental analysis and try to determine whether your TURBO investment makes sense, especially in the long term

Turbo taxation

Ever since cryptocurrencies started seeing serious levels of adoption, governments around the world reacted.

They realized that their citizens are earning from crypto trading and investing and that the local laws do not require them to pay taxes on those profits.

Of course, it did not take long for nations all over the world to introduce taxes first, while regulations have still been quite rare and basic in most places, in some areas, there are no regulations at all.

The issue of regulatory clarity aside, chances are that you are under obligation to pay taxes to your government on any profits that you achieve from trading TURBO, as well as any other cryptocurrency.

Of course, there may still be some countries that do not yet have crypto tax laws, but if there are, they are certainly in the minority.

This means that you need to check your country’s laws first in order to know where you stand and how much you will owe if you become a successful trader.

Unfortunately, most nations have very high crypto taxes, but since there is no universal rule regarding how to tax crypto, each country has its own laws.

Day-trading Turbo vs. Long-term Turbo investments

Like other cryptocurrencies, you can approach Turbo as a trader or as an investor. Both are perfectly valid methods of profiting from cryptocurrency, although both might not fit everyone.

Trading is by far a more complex matter, as it involves discipline, a cool head, strong technical and fundamental analysis, as well as skill and a sense of the market.

Trading requires you to keep track of price movements, new developments surrounding the project, and also the market itself, and large, influential market players.

It requires you to keep an eye on these things constantly, as the market could take a turn at any moment, and you must be there, ready to exploit any emerging opportunity.

A lot of traders even use trading bots for this purpose, as they can analyze the market much more quickly than a human ever could.

Trading also takes time to learn, and it is based on a lot of trial and error, so you might end up losing a significant amount of money before you become skilled enough to start earning more than you are losing.

On the other hand, investing is a long-term process that requires some research into the project upfront.

Essentially, you want to determine that the project is legitimate, not a scam, a rug-pull, or too weak to survive.

Once you determine that it does have a future, you can simply buy some tokens, lock them up in a private wallet, and forget about them for months or even years to come.

Investing is based on the assumption that time will bring greater crypto adoption and that a price increase will follow with it.

If we assume this to be correct, and you pick an asset that will stick around, then investing is a great way to earn money for your retirement or simply to have a small sum grow into a sizable amount that you will use for the future.

It requires nothing apart from some basic research, the ability to determine if the project has a future, and a lot of patience.

It requires less work than trading and certainly comes with less stress. However, the downside is that you will have to wait for years before you get to collect the money.

Trading, on the other hand, rewards you very quickly, although it only provides small amounts. But, if you are successful, over time, those small amounts can pile up into sizable earnings.

Price predictions for Turbo tokens

While price predictions are fairly unreliable, especially regarding long-term predictions, many traders and investors still like to hear experts’ opinions on different coins and tokens.

Experts have enough knowledge and experience to be able to provide some insight, and even if it is not very accurate, the general feeling about the project is something that can mean a lot to a newcomer who can’t decide whether to invest in a cryptocurrency or not.

This is why we have consulted several platforms whose experts have given their own insight into TURBO to try and see what it is they expect.

CoinCodex, for example, has had a negative 5-day prediction for the token, for several weeks now, which shows that the platform’s algorithms deem it to not have a bullish nature right now.

Obviously, even the greatest experts cannot know what will happen in the future, and given how young Turbo is, it is next to impossible to give an accurate prediction.

Unfortunately, at this time, there is simply too little data about the token, its ability to resist bearish or bullish influences, and alike. What the future may bring for Turbo is unknown, and these predictions should be taken with a grain of salt.

Still, if you are interested in Turbo, it is worth keeping an eye on the asset, especially if you believe that it might be a valuable investment opportunity.

But, even if you do, it is likely for the best to rely on your own research and predictions rather than to act on someone else’s. After all, if the prediction is wrong, you are the one who will lose the money.

The best Turbo alternative

From what we have seen, Turbo is a rather risky investment at the moment. It might have potential, but so far, it has not had a chance to show what it can do.

But, if you are interested in investing in new meme coins, we could suggest an excellent alternative to Turbo that you can consider investing in right now, in October 2023.

The asset in question is called Meme Kombat, and it intends to be the new meme-based project that seems to have one of the best Gamefi concepts as a part of its main offering.

Meme Kombat

As the name implies, Meme Kombat is dedicated to popularizing AI-generated battles, a concept that might seem ambitious at first glance. However, the project aims to achieve this by incorporating a betting element. Essentially, Meme Kombat will feature automated battles driven by AI, allowing players to wager using $MK, the native token of the project. The choice of characters is crucial to the platform’s appeal. To ensure they hit the mark, the developers have included mascots from major meme projects like Shiba Inu and Dogecoin as the battling characters.

This decision has resonated strongly with the audience, significantly boosting the project’s recognition within the wider memecoin space. It’s also why there is an expectation that the project has the potential to perform exceptionally well and possibly emerge as one of the most valuable tokens in the space in the future. It is currently priced at $1.667 and is available for purchase from the website directly.

Buy Meme Kombat

Conclusion

Turbo (TURBO) is one of many new meme coins that have emerged over the last few months, seeking to offer a new deal to meme coin enthusiasts.

Unlike the meme coins that have defined the sector, this new batch intends to use different memes, not just dogs.

However, the inspiration for the project is only a small aspect of the project itself, and its technology, potential utilities, and popularity with the community are far greater factors in determining a project’s success.

This shows great volatility, which should be taken as a warning. Of course, Turbo has yet to reach its full potential and is still in its infancy.

However, it may not be a wise idea according to us to put a major chunk of your investments into the project, as there doesn’t seem to be any kind of major potential from the project at the time.

It is too early to say whether it has potential or not, and that means that anything is possible.

As such, it is worth keeping an eye on, but any investment into it should be done after a fair bit of consideration and only if you feel like doing so is the right thing to do.

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FAQs

Where to buy Turbo tokens?

Turbo tokens can be purchased on a number of DEXes and CEXes, such as Uniswap, Gate.io, Huobi, or Poloniex. The list of platforms where it is available is fairly lengthy for such a new asset, and it will likely grow further.

What is Turbo?

Turbo is a new meme coin created in accordance with instructions provided by ChatGPT. It can be considered an experimental cryptocurrency, and as such, it shares some elements with early Dogecoin. This does not guarantee that Turbo will achieve the same success, but it also doesn’t deny the possibility.

Is Turbo dead?

Despite being comparatively new and seeing significant price drops over the past months, the asset is still ranking fairly high, given the total number of cryptocurrencies in the world. However, its future is still unknown, as is the future of all meme coins without clear use cases.

How many Turbo tokens are there?

In total, there are 69 billion TURBO tokens in circulation. This figure also matches the token’s total and max supplies, so there will never be more Turbo than this.

Is Turbo legit?

So far, Turbo has not given any reason to assume that it is a fraudulent cryptocurrency. It is young, and it doesn’t seem to have any major long-term goals, but it openly admits to being an experiment based on AI’s instructions, so it will be interesting to see how it will proceed from here.