Grok

Turbo

<div class="finbold">
 <p class="paragraph">A memecoin <a rel="noopener noreferrer nofollow" title="created" href="https://thebittimes.com/tag/created.html">created</a> using OpenAI’s chatbot ChatGPT has skyrocketed in value, reaching a valuation of $638 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in just three <a rel="noopener noreferrer nofollow" title="months" href="https://thebittimes.com/tag/months.html">months</a>.</p>
 <p class="paragraph">Named Turbo, the memecoin was developed by digital artist Rhett Mankind, who utilized GPT-4 to design the concept, tokenomics, and the smart contract. The project began with a modest budget of $69 and has since evolved into a popular memecoin in the crypto space.</p>
 <p class="paragraph">On May 28, Turbo’s price surged to an all-time high of $0.009302, boosting its market capitalization to approximately $638 million, according to <em>CoinGecko</em>.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin trader reveals exit strategy: ‘Retail will provide our exit liquidity’ <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Solana price prediction as new update changes network fees dynamics <span class="self-center text-xs text-slate-500">2 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Why Bitcoin could skyrocket to $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> thanks to this overlooked factor <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Banking business? Starbucks holds over $1.8 billion in customer deposits <span class="self-center text-xs text-slate-500">3 hours ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <figure class="wp-block-image size-full"><img decoding="async" width="984" height="601" src="https://cdn.thebittimes.com/images/2024/05/28/46f800333daaf459aecff994e4eae76c.webp" alt="" class="wp-image-179136" srcset="https://cdn.thebittimes.com/images/2024/05/28/46f800333daaf459aecff994e4eae76c.webp 984w, https://cdn.thebittimes.com/images/2024/05/28/46f800333daaf459aecff994e4eae76c.webp 300w, https://cdn.thebittimes.com/images/2024/05/28/46f800333daaf459aecff994e4eae76c.webp 768w" sizes="(max-width: 984px) 100vw, 984px">
  <figcaption class="wp-element-caption"><em>Turbo token 1-year price chart for the. Source: CoinGecko</em>&nbsp; <br>
  </figcaption>
 </figure>
 <p class="paragraph">Over the past three <a rel="noopener noreferrer nofollow" title="months" href="https://thebittimes.com/tag/months.html">months</a>, Turbo’s market capitalization has jumped from $27 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> to over $600 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, marking a 2,262% increase.</p>
 <p class="paragraph">Mankind documented the creation process on X (formerly Twitter), using polls to involve the community in decisions about the project’s name and mascot. This community-driven approach, along with the use of innovative AI technology, has contributed to Turbo’s popularity among investors.</p>
 <p class="paragraph">The success of Turbo reflects a broader trend in the cryptocurrency market, where memecoins are gaining traction. After a month of low activity, the memecoin market is booming, with coins like CorgiAI (CORGIAI), Turbo (TURBO), and Grok (GROK) gaining attention.&nbsp;</p>
 <p class="paragraph">These AI-driven meme coins have significant popularity, with investors considering these options to enhance their portfolios and achieve substantial returns.</p>
 <h2 class="wp-block-heading" id="h-broader-memecoin-trend">Broader memecoin trend</h2>
 <p class="paragraph">The mania within the memecoin sector has certainly played a role in Turbo’s success. Turbo’s community-driven ethos, innovative use of AI, and transparent distribution model have resonated with investors.</p>
 <p class="paragraph">Data from <em>Santiment</em>, gathered by Finbold, shows an increase in social volume, indicating heightened retail interest. Social indicators often peak before a trend reversal, suggesting the importance of monitoring such metrics.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="347" src="https://cdn.thebittimes.com/images/2024/05/28/86764d33362d8bd5fbf19b2901336412.webp" alt="" class="wp-image-179137" srcset="https://cdn.thebittimes.com/images/2024/05/28/86764d33362d8bd5fbf19b2901336412.webp 1024w, https://cdn.thebittimes.com/images/2024/05/28/86764d33362d8bd5fbf19b2901336412.webp 300w, https://cdn.thebittimes.com/images/2024/05/28/86764d33362d8bd5fbf19b2901336412.webp 768w, https://cdn.thebittimes.com/images/2024/05/28/86764d33362d8bd5fbf19b2901336412.webp 1536w, https://cdn.thebittimes.com/images/2024/05/28/86764d33362d8bd5fbf19b2901336412.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Turbo price vs. Social Volume. Source: <em>Santiment’s Sanbase&nbsp;</em> <br>
  </figcaption>
 </figure>
 <p class="paragraph">On May 28, data from <em>Coinglass</em> showed that four of the top ten tokens with the highest open interest(OI) in the crypto leverage market were memecoins.</p>
 <p class="paragraph">A growing OI indicates bullish momentum in the market as leverage traders open more contracts in anticipation of price momentum.</p>
 <p class="paragraph">Turbo trades on multiple exchanges, such as Gate.io, MEXC, and OKX, enjoying strong liquidity and trading volumes. Its total circulating supply is 69 billion, with a market cap now crossing $620 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>.</p>
 <p class="paragraph">However, investors should be aware of the risks. The hype around memecoins can fade, potentially leading to significant losses when demand decreases.</p>
 <p class="paragraph">&nbsp;As Turbo continues to capture the crypto community’s attention, its future will depend on ongoing community engagement and market dynamics.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/memecoin-created-by-chatgpt-soars-2-000-to-638-million-in-3-months-tbt90206.html">https://thebittimes.com/memecoin-created-by-chatgpt-soars-2-000-to-638-million-in-3-months-tbt90206.html</a></p>

Memecoin created by ChatGPT soars 2,000% to $638 million in 3 months

Table of Contents

TheBitTimes

Other articles published on May 28, 2024

BlackRock Incorporates Company’s Bitcoin ETF into Two Key Funds in Q1

Machine Learning Algorithm Predicts Dogecoin And Shiba Inu Price For June 2024

Crypto Miner Riot Platforms Set to Take Over Rival Firm Bitfarms

Today's Top 3 Cryptocurrency Picks Among Traders

Crypto Fear and Greed Index hits 74: What it means for Bitcoin

Ethereum Shifts Gears: Breaks Key Resistance, New All-Time Highs Next

Join our free newsletter for daily crypto updates!