ChatGPT-created Turbo memecoin crosses $50M marketcap
Several crypto exchanges like MEXC and LBank have listed Turbo and its holders have now exceeded 9000 indiviuals.
Popular AI tool ChatGPT was used to create the Turbo memecoin, the market cap of which has now exceeded $30 million within a week of its launch.
On April 23, digital artist Rhett Mankind tweeted about how he gave ChatGPT instructions and a budget of $69 to create a memecoin that will surpass the hype of all other memecoins and achieve a top 300 rank on CoinGecko.
In a YouTube video, Mankind explained that the AI tool chose the memecoin name and its branding. Besides that, the AI tool also provided the memecoin project’s smart contract code.
How ChatGPT created Turbo
Mankind started by asking ChatGPT to pick a name for the project, and TurboToad was chosen through a Twitter poll. The artist used Midjourney to create the mascot for the project.
According to his documentation on Twitter, ChatGPT prepared the tokenomics for the project and the Whitepaper. It included terms like no taxes, renounced contract, no presale, and an anti-whale mechanism.
Mankind encountered problems using ChatGPT to create the smart contract because the chatbot initially advised him to learn how to code due to budget constraints. The AI code eventually wrote the code, which was deployed after being tested and verified by some followers.
The project’s initial DEX launch failed because bots got most of the liquidity in its pool. However, ChatGPT gave Mankind ideas on how to move the project forward. Some of these ideas included crowdfunding, social media promotion, and airdrops.
Mankind eventually launched the token under a new name Turbo with a 69 billion token supply — 60 billion going to the community while the rest belonged to him.
Crypto exchanges list Turbo
TURBO’s successful launch has attracted interest from several crypto influencers and popular accounts, further generating interest in the memecoin. The project has a thriving social media presence with over 10,000 followers on Twitter and a discord group.
Meanwhile, the increased interest has seen its holders push over 9000, with its trading volume exceeding $30 million in 24 hours, according to CoinGecko data. Several crypto exchanges like MEXC and LBank have also listed the token.
The token is trading at $0.00053512 as of press time, and its market cap exceeded $50 million on May 3. However, it has recently dropped to around $34.6 million, according to Dextools data.