Coinbase Assets adds Gigachad (GIGA) and Turbo (TURBO) to its roadmap

In a surge of meme token expansion, Coinbase has added Gigachad (GIGA) and Turbo (TURBO) to its roadmap. This addition comes shortly after the rapid listing of Moodeng (MOODENG) and Mog Coin (MOG) on the upcoming asset roadmap.

Coinbase Assets outlined its plans to list Solana-based Gigachad (GIGA) and Turbo (TURBO), following the addition of these tokens to its roadmap.

GIGA has been recognized as one of the most decentralized tokens, with no dominant influence from whales.

Turbo (TURBO), launched in May 2023, is the first AI narrative token. This asset thrives on a substantial social media community, which has remained steadfast during periods of stagnation and drawdowns. TURBO is also the inaugural AI agent token to be listed on Coinbase.

While the roadmap does not specify a time frame for listing the assets, in the case of Moodeng (MOODENG), the listing occurred within hours of announcing the intention. The focus on GIGA and TURBO emerges as Binance US prepares to commence Pepe (PEPE) trading on December 5. The introduction of new meme tokens on high-visibility exchanges perpetuates the concept of a meme super cycle.

Coinbase targets mid-range tokens

Both GIGA and TURBO fall within the market capitalization range of $500 million to $600 million. Even the listing of MOODENG and MOG did not propel these assets above the $1 billion mark, which remains exclusive to less than a dozen tokens.

In the short term, listings enhance token exposure but do not significantly alter their competitive advantage. Established meme tokens maintain dominance, keeping the market's total valuation above $121 billion.

GIGA will be listed in its Solana-based form, with 54,022 holders. TURBO is an Ethereum-based token with 44,429 holders. The Coinbase listings follow a series of meme-friendly developments, including the launch of the PancakeSwap meme launch platform and the testing of novel memes on XRPL.

The inclusion of GIGA aligns with the meme preferences of influencer Murad Mahmudov, who considers it a prominent cult meme. GIGA expands its reach alongside SPX6900 (SPX), which was recently added to KuCoin.

The meme listings extend the season for social media tokens, while the dino altcoin surge also competes for attention.

GIGA, TURBO already gain representation

Coinbase listings contribute to the meme narrative but do not significantly impact the selected tokens. The exchange prioritizes established memes that are further along in their life cycle.

GIGA remains dependent on Raydium and may experience a more pronounced listing effect when the spot market opens. The token has rallied to $0.058 from a recent low of $0.042, yet remains below its one-month peak.

TURBO has reached a peak of $0.009 from $0.0075, indicating a relatively modest rally. TURBO has already gained exposure through OKX trading and is listed on Bitget and Crypto.com, so Coinbase will contribute a smaller stream to its mainstream adoption. Both TURBO and GIGA have exhibited increased decentralized activity following the Coinbase announcement. High-activity clusters have emerged in both cases, indicating token movement in anticipation of more active trading.

Neither TURBO nor GIGA has been observed in Wintermute's wallets. This market maker serves as an indicator of promising meme futures and has accumulated some of the more prominent tokens, including those with a spot market on Binance.

Coinbase exhibits relatively limited activity for its small selection of memes. The most recent addition prior to Moodeng was Bonk (BONK), a widely held Solana-based asset considered a blue chip meme. Coinbase has yet to demonstrate whether the new listings will generate significant hype. In the short term, MOODENG has not re-entered price discovery, but rather recovered from its local lows.

Meme tokens may encounter challenges in gaining mainstream traction, as they resonate primarily with direct DEX users. Coinbase has traditionally focused on heavily vetted and regulated assets, only recently expanding into memes that lack utility. Memes retain the advantage of not being classified as unregistered securities but pose a unique challenge to centralized exchanges due to their extreme volatility and the involvement of wallets that acquired the supply early.