Date: Tue, Oct 15, 2024, 11:00 AM GMT
The cryptocurrency market is buzzing today as Bitcoin (BTC) remains steady above $65,000. Riding on Bitcoin’s strength, several memecoins are enjoying impressive rallies. Among them, Turbo (TURBO) has caught everyone’s attention with a 33% surge in the past 24 hours and a 72% gain over the past week. As of now, TURBO is trading at $0.01160, pushing its market cap to a hefty $743 million.
Smart Whale Executes a Perfect Trade
Amid the ongoing rally, one savvy trader known as “0x5ac” locked in a whopping $1.03 million profit by strategically timing the TURBO surge.
According to data from Spotonchain, the whale had initially withdrawn 188.89 million TURBO tokens from Binance between September 21 and October 13, paying about $0.007 per token, which cost roughly $1.24 million.
With TURBO soaring, the whale unloaded the entire stash today at $0.012 — bagging an impressive 82.5% profit in less than a month.
Track Record of Success
This isn’t the first time “0x5ac” has pulled off a smart trade. The whale has an impressive portfolio, having traded 21 tokens with a 71% success rate. Notable profits include:
- $1.5 million from TURBO
- $843K from BRETT
- $467K from PEPE
- $325K from LINK
Even with a streak of wins, the whale’s biggest loss stands at a manageable $127K on ONDO.
What’s Next for TURBO?
The surge in TURBO has sparked excitement, and the token even hit a high of $0.01222 today. However, for the rally to continue, TURBO will need to break above this recent high to unlock more gains in the days ahead. Memecoins tend to move sharply, so crossing key resistance levels like this could pave the way for an extended rally.
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