Memecoin “Turbo” Created by ChatGPT Reaches Explosive Appreciation of 2000% in Just Three Months

In a surprising development in the world of cryptocurrencies, the memecoin called Turbo, which was created using OpenAI’s GPT-4 technology, has seen its value skyrocket, reaching a staggering valuation of US$638 million in just three months of existence. This remarkable growth highlights the growing influence of artificial intelligence in the digital asset sector.

The Turbo project was started by digital artist Rhett Mankind, who explored the capabilities of GPT-4 to formulate the concept, token economics, and smart contracts of memecoin. Starting with an initial budget of just $69, the project quickly gained popularity and established itself as a favorite among cryptocurrency enthusiasts.

At the time of publication, the price of the Turbo was listed at US$0.009352, up 31.5% in the last 24 hours. Memecoin Turbo has increased its market capitalization to approximately $649 million. This increase represented a 2262% growth in its capitalization, starting from a modest US$27 million.

Rhett Mankind made a point of actively involving the community in the development of Turbo, documenting the creation process on the X platform (formerly known as Twitter) and using polls to make decisions about fundamental aspects such as the memecoin’s name and mascot. This community strategy, combined with the use of advanced technology, was essential to capture investor interest.

Turbo’s success is a reflection of a larger trend within the crypto space, where memecoins are increasingly in vogue. After a period of low activity, the memecoins segment has been showing signs of recovery.

According to information from Santiment, the increase in social volume indicates a growing interest from the general public, which may precede changes in market trends. In addition, recent data from Coinglass indicates that memecoins are among the top ten tokens with the highest open interest in the crypto leverage market, suggesting an upward trend.

With a total supply of 69 billion tokens in circulation and strong liquidity on major exchanges such as Gate.io, MEXC and OKX, Turbo is well positioned in the market. However, it is essential that investors remain engaged and attentive to market dynamics to maintain memecoin’s momentum.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.