Memecoin Turbo, which was built entirely from scratch using ChatGPT 4, gained massive momentum reaching $100 million in market capitalization within 10 days of its launch.
A whale carrying a massive amount of frog-themed memecoin PEPE has recently set up a new trade in a token called Turbo (TURBO), built using the ChatGPT language model for just $69. The whale, who was an early investor in Pepe’s coin and netted $14.5 million in profits, has been aggressively buying Turbo since the start of the month, May 3, according to data provided by on-chain analytics platform Lookonchain.
The merchant has so far purchased 1.38 billion Turbo Tokens and is already in the green. As of the date, the value of this purchase is currently . In their Twitter update, Lookonchain male:
A clever whale earned about $14.5 million $ beep Buying succeeded Turbo dollars Since May 3. He bought a total of $1.38 billion Turbo dollars (currently $1.1 million) with a value of $977 thousand, and the average purchase price is $0.0007055. This whale was not one of the first buyers $ beepbut he continued to buy $ beep From April 19 to 27 when the price of $ beep was depressed. “
Clearly, the whale in the notice has been cleverly spinning its profits from Pepecoin to Turbo.
Turbo Token price hike amid Memecoin craze
Pepecoin recently launched a new memecoin craze which gave investors multiple returns within less than a month of launch. The rise of Pepecoin triggered a massive frenzy among cryptocurrency traders and investors leading to renewed interest in this crypto asset class.
The action continues in this ChatGPT-based token that has led many to believe that the crypto winter could end anytime soon. Of course, trading in such tokens is obviously very risky and decentralized exchange (DEX) Uniswap is currently warning investors of the same. Over the past weekend, the Turbo token prize has increased all the way to $0.003007, as per data From DexScreener.
It’s only been 10 days since the developer released the turbo memecoin that was built from scratch using ChatGPT-4. According to the project’s white paper, the project has a budget of $69 with a total supply of 69 billion tokens. It says that memecoin “aims to establish itself as a leading meme currency with a unique identity and strong focus on simplicity, fairness, and community engagement.”
Since the increase in trading of Turbo tokens earlier this month, the price of the token has more than doubled, bringing its market cap to nearly $100 million.
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Bhushan is a financial technology enthusiast with a good knack for understanding financial markets. His interest in economics and finance has turned his attention towards the new emerging Blockchain technology and Cryptocurrency markets. He is persistent in the learning process and keeps himself motivated by sharing the knowledge gained. In his spare time he reads fantasy and thriller novels and occasionally explores his culinary skills.