Memecoins
AI-powered Turbo memecoin sees 40% surge amid growing US trend
Turbo (TURBO), an AI-generated engine memecoinjumped 40% in the last 24 hours amid a trend in the United States.
At the time of writing, TURBO was trading at $0.001105, up over 100% over the past week. The token’s market cap surpassed $70 million, up 40%, while its 24-hour trading volume reached $37 million, up 160%.
24 hour TURBO price chart | Source: CoinMarketCap
Turbo Token, the brainchild of digital artist Rhett Mankind, was born as an experiment in cryptocurrency development using artificial intelligence. Humanity used GPT-4 to generate the concept of a memecoin with a budget of just $69. The AI provided the tokenomics, white paper and smart contract code, which were refined with the help of the community.
Mankind then launched the token’s website, created his X account, and deployed the token, establishing a liquidity pool.
However, a robot quickly bought out the pool, which had limited funds due to the small initial budget. This prompted Mankind to consult AI for alternative funding options, and ultimately turn to community crowdfunding.
The new setup saw a total supply of 69 billion tokens, with 9 billion held by Mankind and 50 participants contributing through crowdfunding. The highest individual pledge was between $200 and $300 in Ethereum (ETH), raising a total of $6,669.
Currently, the token is listed on over 30 crypto exchanges, including OKXGate.io, HTX and Bitget.
TURBO’s latest rise coincides with an overall 3.7% increase in the memecoin market over the past 24 hours, while the global crypto market gained 2.3%. Bitcoin also saw a 3% increase during the same period, reaching around $63,300.