New meme coins are racing to join the $1 billion club, with the highly anticipated ‘supercycle’ in full swing.
Binance meme coin Turbo is the latest to skyrocket, hitting a new all-time high on Tuesday.
The frog meme token is now the subject of intense speculation among sidelined investors, with opinions split on whether to FOMO buy the meme coin or search for low-cap alternatives like Memebet Token and Pepe Unchained.
Is It Too Late To Invest In Turbo Coin?
The Turbo price is up by over 80% in the past week, with the meme coin hitting a new all-time high of $0.0131 on Tuesday, followed by a marginal pullback.
Its valuation has more than tripled in the past month following its Binance spot listing, peaking at $850 million on Tuesday.
TURBO’s 24-hour trading volume has also soared by nearly 150% today on Tuesday, as is typical of Binance meme coins.
The Solana meme coin has quite a few unique selling points that appear to have impressed smart money investors. For instance, it is the first meme coin created by AI, using the ChatGPT LLM model.
This first memecoin created by AI. Read the foundation thread here...The official contract address for $TURBO is: 0xA35923162C49cF95e6BF26623385eb431ad920D3https://t.co/eX3AbTyJpM
— Turbo 🐸 (@TurboToadToken) April 30, 2023
Such unique narratives get strong traction in the meme coin sector, particularly when investors are hunting for any edge to reap the maximum returns in the upcoming supercycle.
Additionally, the Turbo coin is witnessing strong adoption among investors, reaching 40,000 holder wallets today.
🚀 $TURBO - 40,000 Wallets 🚀🌍 Our social movement has reached a new milestone, with the number of unique wallets reaching an all-time high.The $TURBO Revolution is spreading and unfolding across the globe. 💥#TurboToken #TurboRevolution pic.twitter.com/CxFk1wemiC
— Turbo 🐸 (@TurboToadToken) October 15, 2024
However, could it be too late to invest in TURBO?
Prominent crypto investor Mr. APE is projecting a $1 billion market cap for the meme coin. However, this would represent less than 20% growth for new buyers at the current market price.
Meanwhile, data from Spot On Chain reveals that whales have already started to lock in their profits. For instance, one whale dumped all its TURBO holdings after the meme coin reached a new all-time high today, locking in a profit of $1.5 million.
A smart whale just locked in a $1.03M profit from $TURBO (@TurboToadToken) after the price surged 35.6% today!Smart whale "0x5ac" initially withdrew 188.89M $TURBO from #Binance at ~$0.007 (cost: $1.24M) between Sept 21 and Oct 13, then unloaded all just now at $0.012, gaining… pic.twitter.com/rRzmgcm7Q6
— Spot On Chain (@spotonchain) October 15, 2024
Considering that low-cap meme coins appear to have a much higher likelihood of hitting the $1 billion threshold than large-cap coins do of achieving multi-billion valuations, the Turbo coin appears to be more suitable for swing traders rather than spot buyers.
Experts are advising sidelined investors to wait for a better entry in TURBO or else search for low-cap alternatives.
Are These Low-Cap Meme Coins Better Investments?
Microcap meme coins are in extremely high demand, with Memebet Token (MEMEBET) being one of the projects that is creating a strong buzz.
The MEMEBET presale is quickly nearing the $500k mark behind heavy whale investments and already has over 1500 buyers.
It is the native cryptocurrency of the Memebet Casino, the first-ever meme coin-based crypto casino that recently secured a regional sponsorship with the Argentina National Football Team.
Thanks to its Telegram-based UI, meme coin integration and attractive monetary perks like P2E airdrops, the Memebet Casino has impressed smart money investors, with some eyeing 100x returns from it.
Similarly, another frog meme coin - Pepe Unchained (PEPU) - is continuing its strong presale performance, now nearing the $20 million mark.
Unlike Turbo, PEPU is a high-utility meme coin. In fact, it is introducing the first Layer-2 ecosystem designed specifically for meme coins on Ethereum.
Pepe Unchained also has a native staking protocol, which is currently offering a reward rate of over 110%.
Considering it is extremely rare for new meme coins to offer such in-demand utility, prominent investors are all-in on PEPU, with some calling it one of the top meme coin projects to buy.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
