Coinbase Prepares to List TURBO and GIGA, Causing Nearly 20% Price Spike
In Brief
- Coinbase adds Gigachad (GIGA) and Turbo (TURBO) to its roadmap, sparking a brief spike in GIGA’s valuation.
- The exchange plans to launch MOG trading on December 5, with phased rollouts based on liquidity conditions.
- Meme coins like GIGA and TURBO are gaining traction, reflecting Coinbase’s focus on this high-demand niche.
Coinbase added meme coins Gigachad (GIGA) and Turbo (TURBO) to its assets roadmap on November 4. GIGA’s valuation briefly spiked after this announcement.
Coinbase has been adding multiple meme coins to its roadmap, with MOODENG and MOG added yesterday.
Coinbase to Add GIGA and TURBO
Coinbase, the largest US crypto exchange, has publicly maintained an assets roadmap since 2022. This roadmap includes assets that the exchange plans to list in the future, which can drastically impact underlying prices. For example, Coinbase added MOODENG to the roadmap yesterday, and its price subsequently rallied over 60%.
Given market demand, the exchange has been expanding its meme coin offerings lately. Shortly after its GIGA and TURBO announcements, Coinbase also put an explicit date on adding MOG support, just one day after putting it on the roadmap. This quick turnaround could imply speediness with the other listings, too.
“Coinbase will add support for MOG Coin (MOG) on the Base network. Trading will begin on or after 9AM PT on 5 December 2024, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our MOG-USD trading pair will launch in phases. Support for MOG may be restricted in some supported jurisdictions,” Coinbase stated.
These listings could have an outsized impact on both GIGA and TURBO. TURBO was the largest AI meme coin by trading volume in October, representing 60% of this sector alongside GOAT.
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Last month, Coinbase International began offering perpetual futures on TURBO, but this didn’t have an enduring price impact.
GIGA, on the other hand, could certainly use a shot in the arm. After a promising rise, its market cap dropped nearly 85% in early November after a massive sell-off. This was apparently connected to a malware attack, and most of GIGA’s price did recover.
Still, this dramatic bite took a toll. Since the Coinbase announcement, GIGA saw a brief spike in valuation.
At the time of reporting, Coinbase did not provide an actual date for listing these two tokens. Meme coin valuations are significantly tied to community momentum and hype bubbles, and speedy listings could help maintain interest.
In any event, Coinbase continues to show interest in this sphere, and GIGA and TURBO are likely to benefit from it.
