Chat GPT developed crypto token hits $500M in capitalization

Turbo, the AI-generated cryptocurrency memecoin built with eh help of Chat GPT-4, continues to soar in value

he $TURBO token has now reached a market capitalization of $500 million over the course of 30 days, becoming another high-risk asset that has already paid off for investors. $TURBO is valued at $0.008734 according to CoinMarketCap, with the token gaining a 1400% increase in its value over the past month alone.

The memecoin’s founder, Rhett Mankind, has been candid about his project, including the fact that he used AI and ChatGPT to build and host $TURBO. Yet, Mankind cautions that he is hardly in control of the project or $TURBO’s future, as he will not try to influence market dynamics. “It’s all in the hands of the community,” he noted, saying that his ultimate goal was to build a decentralized ecosystem.

“So, I’m not in control. And I think that’s where the beauty of this came from. It sort of blew up because I’m not running things. Everyone else is coming up with ideas and how to do something, and they’re just implementing it way better than I could even do myself,” Mankind said.

$TURBO was created more than a year ago when the token started to climb into seven-digit territory, hitting a market capitalization that has vaulted the token to prominence. It has been included in the portfolios of investors who are less risk-averse and are happy to stake their money on a project that is a long shot but could potentially bring big dividends.

Turbo is also “wholly community-owned” and shares a spirit of “collective family,” according to the official project’s claims to its 55,000 followers on X, a social media platform. With $TURBO’s market cap continuing to grow, the project's future seems somewhat upbeat, at least for the time being. However, the exact dynamics and drivers of its value are no different from most memecoins – it’s not so much a utility value, which $TURBO hardly has, but rather a belief that the token can be worth more, although nobody really knows why.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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