The cryptocurrency market has a segment of meme coins that defies logic and a traditional investment approach. A meme coin called Turbo has been trading on the cryptocurrency market for over a year and was created using OpenAI's chatbot ChatGPT.
The meme coin Turbo was first launched a year ago in May 2023 and traded at $0.00031005. However, the cryptocurrency grew by almost 600% by the end of the year but started trading sideways in 2024.
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Nevertheless, the Turbo meme coin shot up almost 1,400% in the last 30 days alone and turned heavily bullish. Since a year ago, the Turbo cryptocurrency, created with ChatGPT, has increased in value by as much as 2,232%. The meme coin is among the best performing cryptocurrencies this year, generating great returns for investors.
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Therefore, a $10,000 investment last year in the meme coin Turbo would have become $233,200 today. This shows that the meme coin segment in the cryptocurrency market is not bound by financial regulations. Meme coins set their own course and the lucky and courageous get the chance to earn returns that even the stock market cannot deliver in a short time.
Cryptocurrency: What Next Next to Turbo Meme Coin?
The price of Turbo is currently hovering around $0.007 on Wednesday and is facing correction on the charts. Investors are now indulging in profit booking and the sell-off sent the cryptocurrency's price plummeting this week. However, meme coins are highly speculative assets, and it is difficult to determine the next direction on the charts.
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It is advised to do thorough research before taking an entry position in the Turbo meme coin this month. The cryptocurrency market is known for its volatility and swings both ways, making it difficult to absorb the losses. In conclusion, although the Turbo meme coin rose 2,200%, there is no guarantee that this performance could be repeated.