Coinbase Prepares to List TURBO and GIGA, Causing Nearly 20% Price Spike

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As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of trends come and go. However, the rapid growth and evolution of cryptocurrencies have kept me on my toes. The recent announcement by Coinbase to add Gigachad (GIGA) and Turbo (TURBO) to its assets roadmap is an intriguing development in this ever-changing landscape.

On November 4, Coinbase announced the addition of meme coins, Gigachad (GIGA) and Turbo (TURBO), to their list of potential assets. Shortly after this announcement, the value of GIGA temporarily surged.

Coinbase has been adding multiple meme coins to its roadmap, with MOODENG and MOG added yesterday.

Coinbase to Add GIGA and TURBO

Since 2022, Coinbase, the leading U.S. cryptocurrency exchange, has consistently shared a plan outlining potential assets they may list in the future. These assets can significantly influence prices within the market. For instance, adding MOODENG to their roadmap yesterday led to a price surge of more than 60%.

Due to increased market interest, the exchange has been increasing its selection of meme-based cryptocurrencies recently. Following their announcements for GIGA and TURBO, Coinbase even set a specific date for adding MOG support – only one day after it was initially mentioned in their plans. This swift action suggests that they might be moving quickly when it comes to other listings as well.

As an analyst, I’m excited to announce that I’ll be adding support for the MOG Coin (MOG) on the Base network. We anticipate trading to commence at 9AM PT on December 5, 2024, assuming liquidity conditions are met. Once a substantial supply of this asset is available, we’ll gradually introduce our MOG-USD trading pair. Please note that due to regulatory considerations, support for MOG may be limited in certain jurisdictions where Coinbase operates.

These listings might significantly influence both GIGA and TURBO. In October, TURBO stood as the leading AI meme coin by trading volume, accounting for approximately 60% of the market share along with GOAT in this particular sector.

Last month, Coinbase International began offering perpetual futures on TURBO, but this didn’t have an enduring price impact.

Instead of saying “GIGA, on the other hand, could certainly use a shot in the arm,” you might consider rephrasing it as “GIGA, however, seems to be in need of some revitalization.” After an initial surge that showed promise, its market capitalization plummeted by almost 85% in early November following a massive sell-off. This was allegedly linked to a malware attack, and the majority of GIGA’s price has since rebounded.

Nevertheless, that significant nibble had an impact on its value. Following the Coinbase revelation, GIGA experienced a momentary surge in worth.

As I’m writing this analysis, Coinbase has yet to specify a concrete launch date for these two tokens. Given the close relationship between meme coin valuations and community excitement and hype cycles, swift listings might help sustain investor enthusiasm.

As a researcher, I find myself consistently monitoring the activities of key players within our field. Specifically, I’ve noticed that Coinbase remains active in the relevant sector. Given this ongoing engagement, I believe there is potential for both GIGA and TURBO to reap benefits from these developments.

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2024-12-05 03:00