As the meme coin season continues to unfold, there have been more novel ideas coming out of the space. The most recent one that is catching investors’ attention is a meme coin that was created using the famous ChatGPT-4 artificial intelligence (AI). As the coin continues to rally, let’s take a look at its inception and how it has been able to grow this much. The Genesis Of Turbo Toad Token About two weeks ago, a Twitter user that goes by Rhett Mankind posted that they had given GPT-4 a $69 budget with the instruction to create a meme token that become the most successful new meme token. What followed was an interesting thread sharing the process and creation of the token. Related Reading: Is Meme Coin Season Back? Here’s What The Numbers Say After going through different suggested names, Rhett finally settled on the name Turbo Toad Token (TTT) following a Twitter poll where the name emerged as the most popular. GPT-4 further provided the prompts to create AI images for the meme coin, as well as develop the tokenomics for it. I gave GPT-4 a budget of $69 and asked it to make the next great meme coin. I will follow all instructions it gives me and document the process here. Follow and participate 👇 pic.twitter.com/bBxkxkg7eS — Rhett Mankind (@rhett) April 23, 2023 The coin was initially launched by Rhett but failed on the first try. However, the second iteration proved to be successful after a crowdfunding round carried out on Twitter. The website created was very basic but investors quickly latched on to the coin, pulling in around 50 holders with a 69 billion total supply on the first day. This is where it gets interesting. AI-Generated Meme Coin Grows To $40 Million The last iteration of the meme coin was launched on Sunday, April 29, and in the next three days, the coin exploded. First, TURBO launched at a price of around $0.00001773, data from Dextools shows, and it has already grown over 10x since then. Its holder base rose from 50 wallets on launch day to 4,474 at the time of writing, with over 14,600 transfers already carried out on the contract so far. Related Reading: Ripple’s Q1 Report Shows That Investors Are Still Bullish On XRP, Here’s Why Interestingly, this meme coin has surged faster than some of its counterparts, now sitting at a $40 million market cap after touching a new all-time high of $0.00056 in the early hours of Wednesday. Likewise, its 24-hour trading volume on decentralized exchanges reached over $14 million, making it one of the most traded meme coins on the Ethereum network during this time period. The project continues to rely on GPT-4 for improvement updates with the most recent recommendation being that more liquidity be added to the token. As a result, the liquidity for the token has grown to $1.4 million as the community clamored to add more liquidity. As for the token, there is no telling where it goes from here due to the volatile nature of meme coins. However, the support from its community has already seen the meme coin more than double its value in a single day. Crypto market cap holding up above $1.1 trillion | Source: Crypto Total Market Cap on TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com
