A crypto investor identified as BTC12 Capital (leishen.eth) incurred a massive loss by prematurely selling the cryptocurrency $TURBO, missing out on a substantial profit that could have exceeded $4 million if held longer.
On May 7, 2023, BTC12 Capital, operating under the pseudonym leishen.eth, made a significant investment in the cryptocurrency $TURBO, spending approximately $1.14 million. However, the decision to sell just five days later resulted in a staggering loss of $658,000, marking a 58% decrease from the initial investment.
Don't be a paper hand in trading!BTC12 Capital(leishen.eth) spent $1.14M to buy $TURBO on May 7, 2023, and sold it at a loss of $658K (-58%) 5 days later.If he had held it until today, he would have made more than $4M!https://t.co/ahS1rzJ7Ph pic.twitter.com/jXLeMopIT1
— Lookonchain (@lookonchain) May 28, 2024
Turbo Price Review: How is the Meme Coin Doing Today?
Analyzing the meme coin’s charts, we see that the chart shows a significant uptrend in the price of Turbo, marked by increasing green candlesticks. Recently, the price has reached a high of approximately 0.0095 USDT, pushing the upper limit of the Bollinger Bands, indicating strong upward momentum. The price is currently above the middle band (the 20 SMA) and the upper band, suggesting the market is bullish in the short term.
2-hour TURBO/USDT Chart | Source: TradingView
On the other hand, the Average Directional Index (ADX) is at a high value of 64.90, indicating a powerful trend. An ADX above 25 generally signifies a strong trend, and values above 50 suggest a mighty trend. This supports the observation of the strong bullish momentum in Turbo. On the other hand, the Awesome Oscillator (AO) shows increasing green bars, reflecting growing bullish momentum. The positive values indicate that the short-term period is trending higher than the long-term period, confirming the strength of the current uptrend.