Memecoin Turbo, created entirely from scratch using ChatGPT 4, has gained massive momentum with its market cap reaching $100 million within 10 days of launch.
A whale holding a massive quantity of the frog-themed memecoin PEPE has recently generated a new trade in a token dubbed Turbo (TURBO), created by using ChatGPT’s language model for just $69. A whale, who was an early investor in Pepe coin and earned $14.5 million in profits, has been aggressively buying Turbo since the beginning of the month, May 3, as per data provided by on-chain analytics platform Lookonchain.
The trader has so far purchased 1.38 billion Turbo tokens and is already in the green. As of date, the value of this purchase is currently. In their update on Twitter, Lookonchain noted:
“A smart whale who earned ~$14.5M on $PEPE has been buying $TURBO since May 3. He bought a total of 1.38B $TURBO ($1.1M currently) with $977K, the average buying price is $0.0007055. This whale was not an early buyer of $PEPE, but he kept buying $PEPE from Apr 19 to 27 when the price of $PEPE was depressed.”
It is clear that the whale in the notice has been rotating profits smartly from Pepecoin to Turbo.
Turbo Token Price Surges amid Memecoin Craze
Pepecoin has recently triggered a fresh memecoin craze giving investors multifold returns within less than a month of launch. The Pepecoin rally has triggered a massive frenzy among crypto traders and investors driving a renewed interest in this crypto asset class.
The action continues in this ChatGPT-based token which has led many to believe that the crypto winter may be ending anytime soon. Of course, trading in such tokens is obviously risky and decentralized exchange (DEX) Uniswap has been currently warning investors about the same. Over the last weekend, the Turbo token prize rallied all the way to $0.003007, as per data from DexScreener.
It’s just 10 days since the developer launched the turbo memecoin built from scratch with ChatGPT-4. As per the project’s whitepaper, the project has a budget of $69 with a total supply of 69 billion tokens. It says that the memecoin “aims to establish itself as a leading meme coin with a unique identity and a strong focus on simplicity, fairness, and community engagement”.
Since the trading of Turbo tokens ramped up earlier this month, the token has more than doubled in price, with its market cap reaching close to $100 million.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.