Turbo is reaching extreme bullish movements over the past weak which are pushed by favorable liquidity conditions. The Turbo Team seems to have a lot of activity which does raise some questions about their intensions. So for everyone looking to cash out now may be the time Turbo is certainly trending to hit around the all time highs! Come on people do not hesitate any longer! It is time to sell!
There seems to be some volatile price action so expect some wild swings and whipsaws during the ride. Currently TURBO is reaching levels which triggered massive vesting last time.
The altcoin rally has shrunk their overall removeable supply. Overall there is a bullish outlook for this coin and investors are generally suggested to accumulate in the dips when the price goes down. RISH creates an imbalance of approximately 900 paid subscriptions per day. Memberships increase drawing even more interest and the cyclic nature of the token losses eg floating manufacturing and introducing new features creating further value for TURBO.
To put things into context, the team transferred 810 million TURBO to the exchanges of Binance and OKX. The selloff comes after the team already seems to have been selling their liquidation over a few months back. As of June 5, 2023, Lookonchain analytics noted that the team had moved 1.5 billion TURBO to different exchanges.
To support the above statement the Turbo daily chart shows that prices reached a peak of 0.009 dollars at the end of the month of May. Therefore, the team’s liquidation’s expansion coincided with this.
After the Aura people were sending tokens to centralized exchanges on June the price plummeted right down the way over 65%. TURBO found support at 0.0029 dollars forming higher highs before eventually breaking out early October about the highs of May 2024.
Is This A Pump-And-Dump Scheme?
If the past behaviors are anything to trust and the team is actively selling, the chances of TURBO ever recovering from its most recent swing high are slim. This contrariety may initiate an overwhelming selloff where prices could hit 0.007 dollars or even lower.
The only “friendly speculation” is whether the team is “pumping and dumping” or not. Nevertheless, if there is any announcement made from the team’s side, it could help calm fears and perhaps increase prices too. At this moment, though, there are no concrete proofs advocating for any allegations of a pump and dump are in any way possible.