Bitrabo Editorial
A new player in the crypto market, Turbo (TURBO), has seen remarkable growth and currently boasts a market capitalization of $607 million, securing its position as the 229th largest cryptocurrency. Turbo’s rise underscores the increasing interest in AI-backed projects and meme-inspired investments.
Origin and Development of Turbo
Digital artist Rhett Mankind is the mastermind behind Turbo, leveraging the GPT-4 model to craft the token’s concept, economics, and smart contract. With an initial budget of $69, Mankind documented the entire creation process, emphasizing transparency and community involvement from the onset.
This first memecoin created by AI. Read the foundation thread here…
The official contract address for $TURBO is: 0xA35923162C49cF95e6BF26623385eb431ad920D3
— Turbo (@TurboToadToken) April 30, 2023
Mankind highlighted the decentralized nature of the project, emphasizing the community’s pivotal role in Turbo’s success. He stated, “Everything I’ve done is to try and just make it decentralized. So I’m not in control. And I think that’s where the beauty of this came from.”
Despite a market cap dip to $34 million following a peak at $50 million last year, Turbo has recently skyrocketed, witnessing a value surge of over 2,550%. The coin hit new highs, reaching $0.0097 per token before stabilizing around $0.0095. It also experienced a significant spike in its 24-hour trading volume, surpassing $500 million, indicating robust investor interest and market activity.
Although classified as a memecoin, Turbo stands out for its novel use of AI tech and community-driven governance. It operates with a relinquished contract ownership and supports tax-free transactions, enhancing its attractiveness to crypto enthusiasts.
Trading on major exchanges like MEXC, Gate.io, and OKX has bolstered Turbo’s market presence and liquidity. With a circulating supply of 69 billion TURBO tokens, its on-chain market cap exceeding $600 million illustrates an 83% daily surge.
The success of Turbo is multifaceted, blending meme coin frenzy with the volatile crypto landscape, where community engagement and innovative strategies can lead to substantial financial gains.
Currently, TURBO is trading at $0.009437.
