Turbo memecoin was developed using the well-known OpenAI chatbot ChatGPT and has amassed a market capitalization of $638 million about a year after its initial release.
The value of the Turbo memecoin reached an all-time peak of $0.009302 on May 28. According to coin information tracker CoinGecko, this increased the meme token’s market capitalization to approximately $638 million.
In the past three months, the meme token has experienced substantial appreciation, increasing in value from $27 million to more than $600 million. This signifies that the market capitalization has increased by 2,262% in the last ninety days.
Currently, the token is trading at approximately $0.009158, a decrease of 6.9% from its peak value. Since its all-time low of $0.00006518 in September 2023, the memecoin has increased by 13,192.3%.
The creator of Turbo, digital artist Rhett Mankind, attributes the token’s success to its decentralized nature. Mankind stated on the project’s official website that the token’s “explosive popularity” resulted from his absence from its administration. Humanity composed:
“Everyone else is coming up with ideas and how to do something and they’re just implementing it way better than I could even do myself.”
On April 20, 2023, humanity developed the Turbo memecoin. The digital artist directed the artificial intelligence (AI) chatbot in creating what he termed “the next great” memecoin through imaginative prompts.
Although Mankind initially characterized the endeavor as a “joke,” the creator of Turbo stated on X that he would see it through. Mankind continued to provide the AI chatbot with directives to achieve the position of one of the top 300 tokens on CoinGecko.
Mankind documented the entire process of developing the code for the memecoin on X, beginning with the idea’s conception. In addition, the digital artist oversaw X ballots that determined the mascot and name of the project.
Coinglass data indicates that memecoins continue to command the majority of attention in the cryptocurrency space. Memecoins comprised four of the ten tokens with the most open interest in the crypto leverage market on May 28. Pete, Dogecoin, Bonk (BONK), and Dogwifhat were among the meme tokens on the list.
