The undeniable rise in the prevalence of generative AI continues to have a profound effect on the digital asset industry. Indeed, ChatGPT was used in the creation of the meme coin Turbo (TURBO), whose market cap has now surpassed the $600 million level during a recent surge.
Over the past month, the asset has risen more than 1,500% to reach the current price of $0.0096. Furthermore, the asset's market capitalization has increased by more than 44% in the last 24 hours CoinMarketCap. Next, Turbo looks to benefit from the 2024 meme coin mania and growing interest in AI programs.
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ChatGPT Meme Coin Rises 1,500% in 30 Days
Over the past year, general interest in generative AI has increased dramatically. This is in large part due to the rapid rise of OpenAI's ChatGPT. The system was praised for its exemplary capabilities and its efforts to push the entire AI industry further into the future.
Now that has seemingly sparked the monumental success of a ChatGPT meme coin whose market cap has surpassed the $600 million mark. Specifically, Turbo is an altcoin that used GPT-4 in its development. according to its website. In recent weeks, the value of the token has skyrocketed.
Since this time last year, the asset has risen in value by more than 2,700% and it doesn't seem like this is slowing down any time soon. Since starting with that $69 budget, the project has continued to grow within the meme coin market. Additionally, the project has increased its profile within the community through its transparency efforts.
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“All I've done is try to just make it decentralized,” says the said the creator of the project. “So I have no control. And I think that's where the beauty of this came from. it's kind of blown up because I'm not managing things. Everyone comes up with ideas and how to do something, and they just implement it much better than I could do myself.”
The success is also likely due to the strong increase in the meme coin market this year. In March, a plethora of newcomers added interest and intrigue to the growing market. Tokens such as Dogwifhat (wIF) and Book of Memem (BOME) increased competition. Moreover, Pepe has seen its status rise to become the third largest meme coin, behind creator Dogecoin (DOGE) and Shiba Inu (SHIB).