ChatGPT-Generated Meme Coin Reaches $600M Market Cap
The undeniable rise in generative AI prevalence has continued to have a profound effect on the digital asset sector. Indeed, ChatGPT was used in the creation of the meme coin Turbo (TURBO), which has now seen its market cap surpass the $600 million level amid a recent surge.
Over the last month, the asset has rallied more than 1,500% to reach its current price of $0.0096. Moreover, the last 24 hours have seen the asset’s market cap increase more than 44%, according to CoinMarketCap. Subsequently, Turbo is seemingly benefitting from 2024’s meme coin mania and the growing interest in AI programs.
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ChatGPT Meme Coin Surges 1,500% in 30 Days
Over the last year, the overall interest in generative AI has skyrocketed. This has been due, in large part, to the meteoric rise of OpenAI’s ChatGPT. The system was lauded for its exemplary capabilities, and its efforts to push the entire AI industry further into the future.
Now, that has seemingly set off the monumental success of a ChatGPT meme coin that has seen its market cap surpass the $600 million mark. Specifically, Turbo is an altcoin that utilized GPT-4 in its development, according to its website. The last several weeks have seen the value of the token skyrocket.
Since this time last year, the asset has increased in value by more than 2,700% and it doesn’t appear to be slowing down anytime soon. Since beginning with that budget of $69, the project has continued to grow within the meme coin market. Moreover, the project has increased its prominence within the community because of its transparency efforts.
Also Read: Shiba Inu vs Dogecoin: ChatGPT Picks 2024 Summer Winner
“Everything I’ve done is to try and just make it decentralized,” the project’s creator said. “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.”
The success is also likely due to the meme coin market’s surge this year. In March, a plethora of newcomers added interest and intrigue to the growing market. Tokens like Dogwifhat (wIF) and Book of Memem (BOME) increased competition. Moreover, Pepe has seen its status increase, to become the third largest meme coin, behind originator Dogecoin (DOGE) and Shiba Inu (SHIB).
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