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AI-powered Memecoin Turbo Sees 40% Rise Amid Growth in US
Turbo (TURBO), a system generated by artificial intelligence memecoinit is up 40% in the last 24 hours amid a trend in the United States.
At the time of writing, TURBO was trading at $0.001105, marking an increase of more than 100% from last week. The token’s market capitalization surpassed $70 million, up 40%, while 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, emerged 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. AI provided the tokenomics, the white paper, and the smart contract code, which was refined with the help of the community.
Humanity then launched the token’s website, created their X account, and distributed the token, creating a liquidity pool.
However, a bot quickly took over the pool, which had limited funds due to the small initial budget. This pushed humanity to consult AI for alternative financing options, ultimately opting for community crowdfunding.
The new setup saw a total supply of 69 billion tokens, of which 9 billion were held by Mankind and 50 participants contributed via crowdfunding. The highest individual contribution was between $200 and $300 in Ethereum (ETH), for a total of $6,669.
Currently, the token is listed on over 30 cryptocurrency exchanges, including OKXGate.io, HTX and Bitget.
TURBO’s latest rally coincides with an overall increase of 3.7% in the memecoin market over the past 24 hours, while the global cryptocurrency market gained 2.3%. Bitcoin it also saw a 3% increase over the same period, reaching approximately $63,300.