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Turbo Price Prediction 2024: AI Memecoin TURBO Falls After Peak

Last Updated June 7, 2024 12:07 PM
Giuseppe Ciccomascolo
Last Updated June 7, 2024 12:07 PM

Key Takeaways

  • Turbo began as an experimental project based on the GPT-4 AI platform.
  • The TURBO price has jumped by 2,000% since the beginning of 2024.
  • One price prediction expects it to reach $0.047056 in 2025.

Turbo began as an experimental project when GPT-4 was allocated $69 to create a memecoin. However, it underwent a 2,000% surge in 2024.

After peaking at $0.00978 on May 29, the price has now fallen as interest cools off and, on June 7, TURBO was worth about $0.006.

Turbo did not respond to a request for comment.

But what is Turbo (TURBO)? How does it work? Let’s find out, and we can also look at some of the Turbo Price Predictions that were being made as of June 7, 2024.

Turbo Price Prediction

Let’s examine some of the Turbo price predictions made on June 7, 2024. It is crucial to remember that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $0.0126 $0.0142 $0.0442
Prediction #2 $0.01 $0.0288 $0.026
Prediction #3 $0.0095 $0.0144 $0.0931

First, CoinCodex  had a short-term Turbo price prediction that saw the token go to $0.07995 by June 12 before jumping to $0.0202 by July 7. Despite this, the site’s technical analysis was bearish, with 14 indicators sending discouraging signals and 12 making bullish ones.

Turbo Price Prediction for 2024

DigitalCoinPrice  said Turbo would reach $0.0123 this year, while CoinDataFlow  says it could get to $0.01, and PricePrediction.net  said TURBO would close the year at $0.0095. 

Turbo Price Prediction for 2025

PricePrediction.net said Turbo would reach $0.0144 in 2025 and CoinDataFlow sees it as high as $0.0288. DigitalCoinPrice said TURBO would trade at $0.0142 next year.

Turbo Price Prediction for 2030

Moving on to a more long-term Turbo price prediction, CoinDataFlow said the token would drop to at least $0.026 by 2030 while PricePrediction.net expects it to be at $0.1067 then. DigitalCoinPrice made a TURBO price prediction of $0.0442 at the start of the next decade.

Google Gemini AI Price Prediction for Turbo (as of June 7)

Google’s Gemini platform gave the following price prediction for Turbo on June 7. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligence price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next Few Months):

  • Prediction: Varied, with some sources predicting a rise to $0.01 and others suggesting a range between $0.0014 and $0.0077.
  • Reasons: Uncertainty surrounds TURBO’s short-term future. While some predict continued momentum based on past performance, others highlight the volatile nature of meme coins, which can experience rapid price drops.

Medium Term (Next 1-2 Years):

  • Prediction: Moderate increase possible, with estimates ranging from $0.006 to $0.009.
  • Reasons: If TURBO gains wider adoption and utility within its ecosystem, its price could see a modest increase. However, the medium-term outlook is clouded by the overall crypto market’s health and potential for new meme coins to capture attention.

Long Term (5+ Years):

  • Prediction: The long-term forecast for TURBO is difficult due to its meme coin status. Some sources even predict a decline.
  • Reasons: Many meme coins struggle to maintain long-term value and relevance. TURBO’s long-term success hinges on developing a strong use case and building a loyal community.

Important to Remember:

  • These are just predictions, and the cryptocurrency market is highly volatile.
  • Meme coins are especially risky due to their dependence on hype and speculation.
  • Always do your own research before making any investment decisions in TURBO.

Additional factors to consider:

  • Development progress on the project behind TURBO (if any).
  • Community engagement and overall project roadmap.
  • Trends in the meme coin market and potential competitors.

Recent Updates from TURBO

On June 7 2024, the Toobit exchange listed  Turbo.

Turbo Price History

Let’s now look at some of the highlights and lowlights of the Turbo price history . While past performance should never be taken as an indicator of future results, knowing what the token has done can help give us some very useful context when it comes to either making or interpreting a Turbo price prediction.

Turbo Price History
Turbo dropped after reaching an all-time high | Credit: CoinMarketCap

When Turbo first came onto the open market on May 5, 2023, it was worth $0.0003172. It then move sideways for the rest of its life, increasing only in the first half of 2024. In fact, TURBO reached an all-time high of $0.00978 on May 29, before retracing a bit. As of June 6 2024, the token is worth $0.006.

At that time, there were 63.6 billion TURBO, out of a total supply of 69 billion. This gave Turbo a market cap of about $386 million, making it the 240th largest crypto by that measurement.

Turbo Historical Price Data

Period Turbo price
Last week (May 31 2024) $0.008474
Last month (May 7 2024) $0.0009041
Three months ago (March 7 2024) $0.0008088
One year ago (June 7 2023) $0.0001387
Launch price (May 5, 2023) $0.0003172
All-time high (May 29, 2024) $0.00978
All-time low (September 26, 2023) $0.00006537

Turbo Price Analysis

Turbo Price Analysis
It looks like Turbo’s good times could be over | Credit: Nikola Lazic/TradingView

The price of TURBO started its uptrend at $0.000063 in mid-October last year. Since then, it has climbed to its all-time high on May 28, increasing by almost 15,000%. Nevertheless, its uptrend could be over. 

This is indicated by the wave structure, which shows the completion of the larger five-wave impulse. The daily chart RSI also reached its overvalued zone, reaching 93% at its all-time high. A more significant downturn is expected, with the price already falling by over 40%, it is currently sitting at $0.006. 

This could only be its first sub-wave in a larger three-wave correction, with another low in the near term, followed by a lower high and its final lower low. Our target is set at $0.0008 but it could end the decline sooner, finding support above $0.001.

Is Turbo a Good Investment?

It is hard to say. The coin has been around for about one year now, and its price has notably increased only over recent weeks. It’s now a bit down from its all-time high, reached on May 29 2024, but most of its future depends on several factors.

It is also worth noting that AI has recently deserved a well-earned reputation for being not as useful as its proponents make it out to be. With the Turbo whitepaper containing several give-away phrases that suggest it was not written by a human, investors who want a crypto that has some human input could well want to look elsewhere.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in Turbo.

Will Turbo go up or down?

No one can really tell right now. While the Turbo crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Turbo?

Before you decide whether or not to invest in Turbo, you will have to do your own research, not only on TURBO, but on other, related, coins and tokens such as Dogecoin (DOGE) and Floki (FLOKI). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who are the founders of Turbo?

Turbo was founded by pseudonymous crypto enthusiast Rhett Mankind , with the assistance of the GPT-4 AI platform in 2023.

Who Owns the Most TURBO Tokens?

On June 7 2024, a wallet linked to the OKX exchange held more than 15% of the supply of TURBO.

Richest TURBO Wallet Addresses

On June 7 2024, the five wallets with the most TURBO were:

  • 0x6cc5f688a315f3dc28a7781717a9a798a59fda7b. This wallet, linked to the OKX exchange, held 11,300,032,415 Turbo, or 16.38% of the supply.
  • 0x3d8fc1cffaa110f7a7f9f8bc237b73d54c4abf61. This wallet held 10,357,285,548 Turbo, or 15.01% of the supply.
  • 0xb8cbbf78c7ad1cdf4ca0e111b35491f3bfe027ac. This wallet held 7,657,986,040 Turbo, or 11.1% of the supply.
  • 0xdba68f07d1b7ca219f78ae8582c213d975c25caf. This wallet held 4,500,000,000 Turbo, or 6.52% of the supply.
  • 0xc882b111a75c0c657fc507c04fbfcd2cc984f071. This wallet, linked to the gate.io exchange, held 3,370,848,516 Turbo, or 4.89% of the supply.

From the Whitepaper

In its technical documentation, or whitepaper , Turbo – seemingly with the help of AI – explains its backstory. It adds: “Turbo Token embraces a unique approach to our development and future direction: a community-driven roadmap. TURBO thrives on the vibrant creativity and diverse insights of our community, comprising artists, collectors, and digital art enthusiasts. This approach ensures our roadmap is adaptable and also highly responsive to the ever-changing landscape of digital art and culture.”

Turbo (TURBO) Explained

Turbo  is the first-ever memecoin created by artificial intelligence (AI). The token began as an experiment. The project’s founder asked GPT-4 to create a memecoin, and it came up with Turbo.

How TURBO Works

TURBO is an ERC-20 token with a total supply of 69 billion tokens. It features no transaction fees and is governed by the community. The token currently lacks a use case beyond pure speculation.

Turbo Attention Tracker

Turbo Google Search Volume
Turbo Google search volume | Credit: Google
Here is a chart for Turbo’s Google search volume for the past 90 days. This represents how many times the terms “Turbo crypto” has been Googled over the last 90 days.

FAQs

How many Turbo are there?

As of June 7, 2024, there were 63.6 billion TURBO, out of a total supply of 69.0 billion.

Will TURBO reach $0.10?

It might, but not soon. PricePrediction.net expects it to reach that level in 2030.

What is Turbo used for?

TURBO is an ERC-20 token that features no transaction fees and is governed by its community. The token currently lacks a use case beyond pure speculation.

Disclaimer

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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