Turbo (TURBO), a memecoin generated by artificial intelligence, has experienced a remarkable 40% surge in value within the last day, gaining popularity in the United States.
As of now, TURBO is being traded at $0.001105, demonstrating a significant increase of over 100% in the past week. The coin’s market cap has exceeded $70 million, showing a 40% growth, with a 24-hour trading volume of $37 million, a 160% increase.
The concept of Turbo Token was conceived by digital artist Rhett Mankind as an experimental project in cryptocurrency development utilizing artificial intelligence. Mankind utilized GPT-4 to formulate the idea for a memecoin with a mere $69 budget. The AI generated the tokenomics, whitepaper, and smart contract code, which were enhanced with input from the community.
After creating the token’s website, establishing an X account, and deploying the token with a liquidity pool, a bot swiftly purchased the entire pool, as the funds were limited due to the initial budget constraints. This prompted Mankind to seek alternative funding options from the community through crowdfunding.
The new funding model resulted in a total token supply of 69 billion, with Mankind holding 9 billion tokens and 50 participants contributing through crowdfunding. The largest individual contribution ranged between $200 and $300 in Ethereum (ETH), raising a total of $6,669.
Turbo Token is currently listed on more than 30 cryptocurrency exchanges, including OKX, Gate.io, HTX, and Bitget.
The recent surge in TURBO’s value aligns with a 3.7% increase in the memecoin market over the past 24 hours, while the global cryptocurrency market has seen a 2.3% growth. Bitcoin also saw a 3% increase during the same period, reaching approximately $63,300.
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