Growing U.S. trend propels AI-driven Turbo memecoin with a remarkable 40% surge
Turbo (TURBO), a memecoin generated by artificial intelligence (AI), has seen a remarkable 40% surge within the last day, gaining significant popularity in the United States.
As of now, TURBO is being traded at $0.001105, showcasing a remarkable 100% increase over the past week. The token’s market capitalization has exceeded $70 million, reflecting a 40% rise, while its 24-hour trading volume has reached $37 million, marking a 160% increase.
Turbo Token, conceived by digital artist Rhett Mankind, was born out of an experiment in cryptocurrency development utilizing AI. Mankind employed GPT-4 to generate the concept for a memecoin with a mere $69 budget. The AI contributed to the tokenomics, whitepaper, and smart contract code, which were further refined with the assistance of the community.
Subsequently, Mankind launched the token’s website, established its X account, and deployed the token, thereby creating a liquidity pool. However, the pool was quickly depleted by a bot due to the limited funds resulting from the initial budget. This prompted Mankind to seek alternative funding options from the AI, ultimately deciding on community crowdfunding.
Under the new arrangement, a total supply of 69 billion tokens was established, with Mankind holding 9 billion tokens and 50 participants contributing through crowdfunding. The highest individual pledge ranged between $200 and $300 in Ethereum (ETH), successfully raising a total of $6,669.
Currently, the token is listed on more than 30 cryptocurrency exchanges, including OKX, Gate.io, HTX, and Bitget.
TURBO’s recent surge coincides with an overall 3.7% increase in the memecoin market within the last 24 hours, while the global crypto market has gained 2.3%. Bitcoin has also experienced a 3% increase during the same period, reaching an approximate value of $63,300.
Read more: A16z crypto CTO criticizes memecoins, claiming they promote a “risky casino” narrative.
