On May 29, the price of the AI-developed TurboToad coin peaked, reaching its new ATH of $0.0098. The market capitalization of the meme-coin surpassed $620 million, according to CoinMarketCap. At the time of writing, the price started to decline, and the token was trading at $0.0064 but still was trending, ranked #8 out of the top ten meme-coins by 24-hour trading volume.

The price rise most likely has no specific reasons apart from supply and demand balance, as it often happens to highly volatile meme-coins. Still, we think the project’s recent announcement that a tier 1 exchange will list the token might have been one of the catalysts of the surge. Also, right before the surge, it was announced that within two days, the coin would be listed on KoinBX, a relatively big Indian crypto exchange. The same day, the project promised “a range of developments” within the following weeks, apparently creating a positive market sentiment. 

An exciting feature of this particular meme coin is that it was developed by digital art experimentator Rhett Mankind using the ChatGPT-4 prompt. The task was brilliantly primitive: create the most successful new meme-coin with a humble budget of $69.

Source: X

While the chatbot suggested things like names, mascots, and tokenomics, Mankind provided it with successful examples and feedback from his followers. Even though the initial budget turned out to be insufficient, the crowdfunding suggested by the AI went out well, and the $TURBO ERC-20 token was launched on Ethereum within just five days, with little knowledge of blockchain coding. The total supply is $69 billion, and all tokens are in circulation. $60 billion was allocated to crowd funders, while $9 billion went to the creator.

Afterward, the contract was renounced; now, the token is community-driven and has no team, according to a recently updated whitepaper. The creator explains the success of the coin through his inertia and the community contribution:

“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,” - Rhett Mankind.

Currently, the coin is listed on over 30 centralized and decentralized exchanges, including OKX and Uniswap. Gate.io is the most popular exchange for trading $TURBO now. The token has achieved one of the primary goals given to ChatGPT and is now ranked #181 on CoinGecko.

Generally, meme coins are trending now. The bullish meme-coin run over the past couple of weeks pushed Shiba Inu, Pepe, Dogecoin, and even smaller 'joke' tokens up in all rankings. The trio overtook some of their more serious competitors, and now enters the top ten by trading volume and the top twenty by market capitalization out of over 10,000 active cryptocurrencies listed on CoinMarketCap. Many meme-tokens have been gaining in price over the last seven days. The TurboToad is one of the leaders by gains, but apparently, Trump-inspired tokens are the hottest property right now.

Source: CoinMarketCap

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