Is a bigger rally possible given that $TURBO has risen 40% in just 7 days?
After a brief spike, TURBO has fallen 2.38 percent in the last day.
Compared to the average 5.84% gain for meme currencies, this underperformance is astounding.
But the fundamentals still work in Turboâs favor.
Even with todayâs drop, TURBO is still one of the best-performing meme currencies this month, up 37.01% since last Thursday.
Is a Turbo price rally possible or should we take a step back?
Turboâs recent listing on Binance, which has added liquidity to the meme currency, is the most important reason for its current rally. More listings are expected.
However, participants are succumbing to selling pressure and unrealized losses as holders take profits, resulting in weak hands.
Therefore, we should expect Turbo to temporarily decline in value until the company establishes a solid foundation on which to build its future. A closer look at the TURBO price chart reveals a higher level of risk, as the current decline confirms a triangle pattern with a downward trend.
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