Turbo is up this week as the crypto market turns bullish and Bitcoin crosses $67K.
But with its price at a 61% week-on-week premium, should you buy, or are there better options on the market?
Turbo Primed For Gains, But Analysts Warn Of Near-Term Reshuffling
Long-term gains are written in the stars, but what happens short term remains to be seen.
On the one hand, community members are convinced that a Coinbase listing is imminent, which would undoubtedly spark a price rally.
Countless users have posted about this on X, with many referencing its sky-high trading volume.
Currently, Turbo holds an $805 million market cap and a $407 million 24-hour trading volume. This gives a volume-to-market cap ratio of 50.38% and signals that traders are highly interested.
Moreover, it’s just $120 million away from the trading volume of Shiba Inu, which has a market cap over 10x higher.
The Turbo community is clearly active, which is a key driver in meme coin price appreciation.
Also, the Turbo holder count has just crossed 40,000, having steadily risen higher over the past month.
This is another positive sign, showing a growing interest in the token.
But with its price up 61% this week, is this a good time to buy?
On a higher time frame, we can expect Turbo to climb in tandem with the rest of the market. According to the four-year cycle thesis, experts believe the crypto market will explode over the next 12 months.
But in the near term, Turbo’s price may be overextended and require a cooling-off period.
Analyst Man Of Bitcoin used the Elliot Wave theory and Fibonacci levels to predict a potential local top of around $0.015, followed by an Elliot Wave 4 retracement to between $0.009 and $0.0054, then a fifth wave that will explode toward $0.032 before the year’s end.
Meanwhile, Cilinix Crypto hailed Turbo’s “ridiculously high volume” and said “there’s room for growth” in terms of market cap, nodding to Floki’s 2x-higher valuation, which would take Turbo to around $0.023.
Similar to Man Of Bitcoin, Cilinix Crypto anticipates a retracement for Turbo. However, the analyst expects a much softer pullback, retesting the recently broken $0.01 mark.
As Cilinix Crypto highlights, Turbo has broken a key resistance level with momentum and volume, which shows real strength. This paves the way for more gains in the future.
Should the aforementioned Coinbase listing occur, Turbo could continue its bullish trajectory unfazed. Otherwise, it may see a short-term cooling off period.
However, over the next few months, Man Of Bitcoin’s $0.032 target remains on the table, fueled by Turbo’s somewhat low market cap, growing investor appetite, and the broader bullish crypto market conditions.
Yet, Turbo will likely be outperformed by a lot of smaller meme coins. For instance, Solana-based Goatseus Maximus has exploded by 140% in the last two days.
And one token that analysts say will surge next is Flockerz. Let’s take a closer look.
Vote-to-Earn Meme Coin Flockerz Will Explode, Says Cilinix Crypto and Others
Flockerz is a new meme coin that takes decentralization seriously.
It’s a bird-themed token and will be the first cryptocurrency with a Vote-to-Earn decentralized autonomous organization (DAO). This means that holders will vote on decisions relating to the project’s future and get paid for doing so.
Most meme coins are led by centralized teams, which leads to complications. For instance, a group of Pepe team members stole $15 million from the project’s treasury in 2023.
Flockerz fixes this by having holders control every aspect of the project, even including managing its treasury.
The concept has drawn massive attention online. Cilinix Crypto is one of the analysts who mentioned it. In a recent video, he said that “it has potential” and hailed its artwork, which he says is an important factor for meme coins.
And he’s not the only one who’s bullish. Jacob Bury recently appeared on the 99Bitcoins YouTube channel and said the cryptocurrency could explode 100x.
The project is currently undergoing a presale and has raised $700K so far. Presale participants can also stake their tokens to compound their investment.
Currently, the Flockerz presale price is $0.0057699, but this will rise as the ICO advances.
