TURBO, an AI-generated meme coin, has soared 40% in the past 24 hours amid trends in the US.
As of this writing, TURBO is trading at $0.001105, marking an increase of over 100% over the past week. The token market capitalization exceeded $70 million, reflecting a 40% increase, and 24-hour trading volume increased by 160% to $37 million.
The brainchild of digital artist Rhett Mankind, Turbo Token emerged as an experiment in cryptocurrency development using artificial intelligence. Mankind used his GPT-4 to generate a meme coin concept with a budget of just $69. AI provided tokenomics, whitepapers, and smart contract code, which were improved with the help of the community.
Humanity then launched a token website, created an X account, and deployed the token to establish a liquidity pool.
However, due to a small initial budget, bots quickly bought up the limited pool of funds. This caused Mankind to consult his AI for alternative funding options and ultimately settled on community crowdfunding him.
The new setup sees a total supply of 69 billion tokens, of which 9 billion are held by humanity and donated by 50 participants through crowdfunding. The highest individual amount was between $200 and $300 in Ethereum (ETH), for a total of $6,669.
Currently, the token is listed on over 30 crypto exchanges including OKX, Gate.io, HTX, and Bitget.
TURBO’s recent rise coincides with a 3.7% rise in the overall memecoin market over the past 24 hours, while the global crypto market rose 2.3%. Bitcoin also rose 3% during the same period, reaching about $63,300.