After nine months of dormancy, an early TURBO holder identified as 0x976 has deposited 695.08 million TURBO tokens (valued at $2.65 million) to OKX.

This move follows a long period of inactivity from the holder, who first began trading TURBO on May 5, 2023.

The trader, active across four different wallets, has accumulated a total of 897.57 million TURBO tokens over time. With an average entry price of $0.0004 and an exit price of $0.003, this early adopter is projected to have netted a staggering profit of $2.44 million, marking a 7.5x return on investment within just 1.3 years.

12 hours ago, an early holder deposited the last 695M $TURBO ($2.65M) to #OKX for a huge profit!

Notably, this holder began trading $TURBO on May 5, 2023, and had traded 897.57M tokens in total.

With an avg entry price of $0.0004 and an exit at $0.003, this holder has likely… pic.twitter.com/WoTKC9TLl0

— Spot On Chain (@spotonchain) September 11, 2024

Despite a recent 10% decline in TURBO’s value over the past 24 hours, the memecoin still holds strong in the market. According to CryptoRank, TURBO ranks among the top 15 memecoins by trading volume in the last 24 hours, boasting a total volume of $46 million.

Top 15 Meme Coins by 24H Trading Volume$PEPE – $376M$DOGE – $315M$DOGS – $264M$WIF – $240M$SUNDOG – $138M$PEOPLE – $110M$POPCAT – $97M$FLOKI – $96M$BOME – $95M$ORDI – $88M$NEIRO – $78M$SHIB – $72M$BONK – $61M$CAT – $57M$TURBO – $46M pic.twitter.com/KYxWgpdbYe

— CryptoRank.io (@CryptoRank_io) September 11, 2024

The significant deposit from this early TURBO holder could signal upcoming shifts in the token’s market dynamics, as other traders may respond to the large volume being moved. While the market currently shows a dip in TURBO’s price, its high trading volume suggests that interest in the memecoin remains strong.

As the memecoin landscape continues to evolve, early movers like 0x976 are reaping substantial profits, underscoring the potential rewards for those who time the market well. Whether TURBO can maintain its trading volume and ranking remains to be seen, but it’s clear that strategic investors are still capitalizing on its volatility.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: grazvydas/123RF // Image Effects by Colorcinch

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