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Cryptocurrency News Articles
TURBO, an ERC-20 Meme Coin Created Using ChatGPT, Records Over $1.4B in Trading Volume
Oct 15, 2024 at 08:20 pm
TURBO exemplifies the frenzy around meme coins. Initially created with just $69, TURBO has grown into a meme coin with a market capitalization exceeding $800 million.
TURBO Surges 116% In October, Crypto Whale Books Profits As Meme Coin Hits ATH
TURBO, an ERC-20 meme coin on Ethereum created using ChatGPT, has recorded over $1.4 billion in trading volume last week.
The price of TURBO reached a new all-time high (ATH) at $0.012 after surging 116% in October. However, a crypto whale has started booking profits.
Crypto Whale Books Profits As TURBO Surges To ATH
TURBO epitomizes the recent frenzy around meme coins. Initially created with just $69, TURBO has snowballed into a meme coin with a market capitalization of over $800 million. It is now the 17th largest meme coin by market cap and ranks 103rd in the overall crypto market. At the time of writing, TURBO’s price has corrected by over 11% from its ATH and is now trading around $0.0116.
According to CoinMarketCap, TURBO’s weekly trading volume surpassed $1.4 billion, which is triple the average volume reported in the previous weeks. Taking advantage of the strong liquidity and high prices, TURBO whales have begun booking profits from their holdings.
As spotted by Spot On Chain, a whale at address 0x51c transferred all 188.89 million TURBO tokens (worth $2.27 million) to Binance, likely for profit-taking. The platform estimates that this crypto whale earned roughly $1.025 million (+82.5%) in less than a month from this transaction.
Meme Coins Invade Top Altcoin Rankings
Presently, 10 out of the top 100 crypto projects by market capitalization are meme coins. This has led to investor Lark Davis questioning whether we could be at the beginning of a supercycle for meme coins.
The rankings feature traditional meme coins like DOGE, SHIB, and PEPE, along with a new generation of meme coins such as NEIRO, MOG, and POPCAT. Moreover, politically themed meme coins have also been a prominent trend this year.
However, buying into meme coins that have already surged, like TURBO, carries a high risk. Recently, investor Miles Deutscher warned that the Xで大流行のmeme coin might be a sign of an impending market correction.
“And as market caps increase, it takes more capital to sustain momentum. So either memes cross into the retail chasm now, or, we may put in a local top for a little while and let things temporarily cool down.” Miles Deutscher added.
Despite the risks, investors are showing an increasing interest in meme coins. Google Trend data indicates a rise in searches for “meme coins” in October. According to CoinGecko, the meme coin market cap has now reached $59.3 billion, showing an increase of 4.9% in the last 24 hours.
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- Which Altcoin Is Set for Big Gains This October? Kaspa (KAS), Solana (SOL), or JetBolt (JBOLT)?
- Oct 16, 2024 at 12:20 am
- As we progress through October, many crypto enthusiasts are eagerly watching to see which altcoin is set for big gains. Could Kaspa (KAS) recover from its 23.3% drop last month? Will Solana (SOL) be able to sustain a steady pace amid criticisms? Or is JetBolt (JBOLT) set to be the next big thing with its stellar performance, having sold over 40 million tokens after only being in presale since August 2024?
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- Ethereum (ETH) Welcomes Uniswap Chain To Improve Decentralization, Polygon (POL) Rebrand Disappoints As Holders Buy The Dip, Rollblock (RBLK) Bringing Transparency To The Gaming Masses With Blockchain Guarantees
- Oct 16, 2024 at 12:20 am
- Ethereum has outperformed Bitcoin during the last day of trading, as it is up 1.7% to reach $2.4k. Ethereum held up remarkably well during the recent Bitcoin dip
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- Crypto Whales Target New Altcoin JetBolt (JBOLT) as Solana (SOL), Ethereum (ETH), and Dogecoin (DOGE) Experience Price Swings
- Oct 16, 2024 at 12:20 am
- Billionaires have earned massive gains from buying Solana, Ethereum, and Dogecoin at the height of their early days. As these once-crypto giants experience price swings and mixed market sentiments today, a new player rises as the next big coin and target of whales: JetBolt (JBOLT).
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- Bonk (BONK) Whales Are Betting Big on Mpeppe (MPEPE) Ahead of Bitmart Listing
- Oct 16, 2024 at 12:20 am
- Mpeppe (MPEPE) combines sports fandom, AI technology, and decentralized gambling into a single platform. This innovative approach has attracted a loyal community and raised over $3.19 million in its presale.
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- DTX Exchange (DTX): The Next Big Thing?
- Oct 16, 2024 at 12:20 am
- DTX Exchange (DTX), listed among the most promising altcoins on the investment block, is an exchange-based cryptocurrency. That isn't all: it is set to make its mark in the crypto scene and the wider financial market, given its blend of TradFi and DeFi.