The Turbo memecoin, created with the help of OpenAI's ChatGPT, has rocketed to a whopping $638 million market cap. It isn’t the first memecoin to skyrocket. But it is definitely the first created by AI to to that.
Launched with a modest $69 budget by digital artist Rhett Mankind, Turbo hit an all-time high of $0.009302 on May 28.
Over the past three months, Turbo's value surged by a staggering 2,262%. That means climbing from $27 million to over $600 million.
Despite a slight dip, the memecoin remains up an astronomical 13,192.3% from its September 2023 low. Overall progress is impressing, to say the least.
Mankind attributes Turbo's success to its decentralized nature. He thinks it’s the community's role that played major role in its explosive growth. He noted that the community's initiatives far exceeded his original vision. Created in April 2023, Mankind leveraged ChatGPT to develop the coin and documented the journey on social media.
Initially a joke, Turbo has become a serious contender. Thanks to an unbelievable growth Turbo is now among the top 300 tokens on CoinGecko. The memecoin's rise highlights the ongoing dominance of meme tokens in the crypto market, with Turbo joining the ranks of popular tokens like Dogecoin and Pepe.