The market value of memecoin coded by chatgpt has reached $638M
Memecoin, created using the popular OpenAI chatbot ChatGPT, reached a value of $638 million within a year after its initial budget of $69.
On May 28, the price of memecoin, also known as Turbo, rose to a new all-time high of $0.009302. This boosted the meme token's market capitalization to $638 million, according to coin data tracker CoinGecko.
The meme token has seen tremendous growth in the past three months, moving from a valuation of $27 million to $600 million. This shows a market capitalization increase of 2,262% in the last 90 days.
The token price currently hovers around $0.009158, which is 6.9% lower than its all-time high. However, memecoin has risen by 13,192.3% compared to its all-time low of $0.00006518 in September 2023.
Digital artist Rhett Mankind, the creator of Turbo, believes the token's success can be attributed to its decentralized nature. On the project's official website, it says the human token has “exploded in popularity” due to its lack of governance. The human being wrote this.
“Someone else is coming up with ideas on how to do something and they're implementing it better than I could do it myself.”
Human Turbo created memecoin in April 2023. A digital artist has used creative incentives to drive what he describes as an artificial intelligence (AI) chatbot as the “next great” memecoin.
While Human initially described the project as a “joke,” the creator of Turbo said he would pursue it on X. Humans continue to give AI chatbot instructions to reach their goal of becoming a top 300 token on CoinGecko.
From creating the concept to developing the code, the human journey of making memecoin has been documented on X. The digital artist even facilitated X polls to determine the project's name and mascot.
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Meanwhile, data from Congress shows that memecoins are dominating the crypto space. On May 28, memecoins were 4 of the 10 tokens with the highest open demand on the crypto leverage market. The list includes meme tokens Pepe (PEPE), Dogecoin (DOGE), Bonk (BONK) and Dogwifhat (WIF).
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