![\"Turbo](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/05\/Turbo-1.png\")
<\/p>\nThe project emerged as an experiment in cryptocurrency creation, inspired by artificial intelligence (AI). Its founder turned to the newest version of ChatGPT, known as GPT-4, with a simple challenge — to create the next great meme coin starting with a budget of only $69.<\/p>\n
Confident in the AI’s capabilities, the founder pledged to follow GPT-4’s instructions and document the process.<\/p>\n
<\/p>\n
The result of this experiment is the Turbo token, which has only been around for a few weeks but has already come a long way. It has a unique tokenomics model, fair distribution, no taxes, and crowdfunded launch.<\/p>\n
While Turbo is only a few months old, it has already found its way to several exchanges, including centralized and decentralized ones.<\/p>\n
Some of the biggest and most popular platforms<\/a> that have already listed it include:<\/p>\n This is by no means the entire list even now, and in time, more platforms are likely to list it.<\/p>\n For the moment, the project has not reached the largest exchanges, such as Binance<\/a>, Coinbase<\/a>, and the like.<\/p>\n However, it could only be a matter of time before it does. These exchanges typically wait to see if there is demand for the asset before they list it, and for the moment, TURBO is still too new for them to know.<\/p>\n Turbo went live on May 4th, starting with the price of $0.00064 per token. Unfortunately, the token’s price started going down immediately after hitting the market.<\/p>\n It did not drop too far down, as its decline was initially stopped by a support level at $0.00050. However, it broke this support by the end of the same say, sinking to $0.0002503 early on May 5th.<\/p>\n After reaching this level, however, the token saw a sharp surge which pushed its price up.<\/p>\n As the day progressed, it went from its all-time low back to its launch price of $0.00064, and then it kept going up, ending the day with a price of $0.001338.<\/p>\n The surge continued on May 6th, allowing the token to reach its all-time high. It encountered a number of resistances during this two-day rise, most of which briefly rejected its price before it resumed its upward momentum.<\/p>\n The one at $0.00064 was the first one, followed by the one at $0.0010, $0.0013, and $0.0020. Another resistance presented itself at $0.0025, and this one was strong enough to reject TURBO’s price three times before it was finally broken.<\/p>\n Eventually, the token climbed up to $0.002906. Unfortunately, this was where its price lost momentum and the resistance at $0.0030 rejected it before the asset could properly reach it.<\/p>\n TURBO started crashing, and while former resistances-turned-supports attempted to soften its fall, it still dropped to $0.001735 by the end of the day. Over the next few days, the price kept going deeper and deeper down, with an occasional attempt at recovery.<\/p>\n On May 7th, for example, the price tried to recover multiple times, but the level at $0.00200 went back to being a strong resistance, and it rejected all such attempts.<\/p>\n About 24 hours later, on May 8th, TURBO’s price dropped to $0.0005343, sinking below the launch price once again.<\/p>\n The price bounced back up after that, approaching the resistance at $0.0015, but this level proved impossible to breach. It stopped any attempt by Turbo to do so throughout May 9th.<\/p>\n The token’s value dropped after May 2024. However, the Turbo price continued through immense volatility after that and at levels above its previous lows. Then came the middle of October 2024, which pushed the Turbo price to its all-time high level before a marginal correction to around the $0.0099 level.<\/p>\n The price of Turbo is constantly changing, as is the case with all cryptocurrencies, apart from stablecoins.<\/p>\n This comes from the fact that its price is not backed by any commodity, fiat currency, or even a different cryptocurrency. As such, it moves up and down, influenced by a number of factors, including:<\/p>\n Supply and demand are the biggest influencers<\/a> of any cryptocurrency’s price. In fact, most other influences lead back to these two.<\/p>\n Supply simply refers to how much of an asset is available on the market, while demand determines how much people want the asset in question. With that being the case, any increase in supply makes the asset less valuable, while any boost in demand makes its price go higher up.<\/p>\n Of course, things are rarely so black-and-white, but this is the basic mechanic of supply and demand.<\/p>\n In the worst-case scenario, the price would crash due to a drop in demand which happens simultaneously with the increase in supply.<\/p>\n However, such extreme circumstances mostly take place during strong bear markets. On the plus side, TURBO has all of its tokens in circulation, meaning that the supply only increases if TURBO holders start selling massively, overwhelming the buyers.<\/p>\n Social media is another major influencer, but it is worth noting that it doesn’t affect all cryptocurrencies in the same way.<\/p>\n Coins and tokens with great utilities, such as Ethereum, tend to ignore social media mentions. Meme coins<\/a>, however, are very strongly influenced by this factor.<\/p>\n Like memes, their success is primarily based on their popularity since they rarely have use cases beyond speculative investing and day trading.<\/p>\n One of the biggest examples of the influence of social media comes from Dogecoin<\/a>, the original meme coin.<\/p>\n Dogecoin was commonly mentioned by Elon Musk, one of the world’s wealthiest people. Musk, who is the acting CEO of Tesla, SpaceX, and Twitter, has often tweeted Dogecoin references in the past, and each of them caused the price of DOGE to go up.<\/p>\n Another factor that can have influence on the price is the token’s volume. Higher volume indicates that the asset is exchanging hands, which has a positive influence, indicating that there are people who wish to buy and sell it.<\/p>\n High volume means a healthy market, plenty of liquidity, and strong demand, especially when buyers and sellers are evenly matched.<\/p>\n In such situations, the price does not go up due to the buying pressure, but rather, the buy pressure forms after traders see that the coin has a community willing to use it.<\/p>\n Moving on, we have a broader crypto market sentiment, which has a massive impact on all cryptocurrencies, not just meme coins.<\/p>\n The market sentiment tends to push the entire crypto industry in one direction or another.<\/p>\n During bull runs, almost all cryptocurrencies grow simultaneously, as the market sentiment is bullish, meaning that investors are optimistic and willing to buy almost any asset.<\/p>\n On the other hand, bear markets<\/a> make investors more pessimistic, and they start dumping their assets in fear of losing money.<\/p>\n In doing so, the asset’s price drops simply because the sellers overwhelm the buyers, fueled by fear. Such great bull and bear markets are typically led by Bitcoin<\/a>, Ethereum<\/a>, and other crypto giants.<\/p>\n Finally, the last great influence on crypto prices includes utility and development. Now, when it comes to meme coins, they typically do not have almost any utilities, and there has been little development after the project’s launch.<\/p>\n For the most part, this is a factor that strongly influences projects that feature smart contracts, as they allow for the development of DeFi, NFTs, metaverses, various other products, different features of the network, and more.<\/p>\n This is not something that is usually present when it comes to meme coins. However, as an ERC-20 token<\/a>, Turbo could, in theory, come up with certain utilities that would provide its token with greater use cases and give it a true purpose.<\/p>\n However, in order for this to happen, its community needs to come up with an idea and agree to implement it.<\/p>\n Since the token is still very young, this is not something that can be excluded, as it is still “settling in,” and its users and developers could come up with a plan to turn it into something more.<\/p>\n However, whether something like that will happen still remains to be seen. The project’s roadmap set up 3 goals for Q2 2023, which included:<\/p>\n All of which the project claims to have finished already. However, there has rarely been any string community-building efforts from the team yet.<\/p>\n As for Q3 2023, the project simply said, “Anything can happen,” indicating that it has no real plans for the future — at least, none that it is willing to share at this time.<\/p>\n It is possible that it intends to let its community come up with plans and ideas for what to do next, and that community is still being built.<\/p>\n Since Turbo is a cryptocurrency, and a meme coin, at that, its price is subject to changes around the clock.<\/p>\n Unlike the stock market and other markets in traditional finance, the crypto industry doesn’t close at the end of the day, over the weekends, or during the holidays.<\/p>\n It is open non-stop, which means that trades are taking place at all hours of the day. As such, its price is influenced constantly, even during the most peaceful periods.<\/p>\n Its price will react to any major or minor trades in one way or another, and the same is true for other factors that affect it, as explained above.<\/p>\n For example, a detailed roadmap revealing some big plan would likely positively affect the token. So would social media mentions by influential personalities or similar entities.<\/p>\n However, such young projects rarely attract attention until they earn their place on the map.<\/p>\n Turbo is one of the new meme coins that have emerged with the intention to stand out from dog-oriented meme coins such as Dogecoin<\/a>, Shiba Inu<\/a>, Floki Inu<\/a>, Baby Doge Coin<\/a>, and alike.<\/p>\n As such, it would not be surprising if the asset did attract quite a bit of attention. However, if you intend to buy it, there are some questions that you must ask first before making your move. For example:<\/p>\n So far, the price of Turbo has not performed extremely well. Cryptocurrencies in the past have seen strong growth immediately after launch, and it took a while before their prices corrected themselves. However, this project has yet to show such a level of growth once again.<\/p>\n The token has seen a decline after launch, followed by a rapid surge and a correction that left it under its launch price.<\/p>\n As such, Turbo has offered certain opportunities for day traders, but it did not promise anything to long-term investors<\/a>. It is also worth noting that the market is still fairly fresh out of the crypto winter, making it relatively unstable.<\/p>\n There are no clear trends right now, so navigating the crypto industry as a new token while the industry doesn’t know which way it wants to go is challenging.<\/p>\n Turbo has shown that it has the potential to grow, but it is also still quite new, and it doesn’t have a large and supportive community behind it.<\/p>\n Assuming that it finds and attracts its people, it could surge again soon, which would mean that buying it now could be beneficial. On the other hand, the project is an experiment that came from its founder’s interest in AI.<\/p>\n There are clear parallels with the launch of Dogecoin, which was made because its founder liked a Doge meme and wanted to create a joke cryptocurrency.<\/p>\n Similarly, TURBO’s founder did an experiment with AI, launching Turbo as a result. Does this mean that Turbo will become the next DOGE? Likely not, but it gives it similar potential.<\/p>\n Dogecoin has the first-mover advantage, although Turbo has its own benefits, such as a capped supply.<\/p>\n In the end, traders and investors need to keep these things in mind and make their own decisions.<\/p>\n Turbo is a meme coin created after the instructions provided by the AI. As such, it can possibly be interesting to meme coin enthusiasts, as well as AI enthusiasts, as it can show them what AI in its current state can come up with when tasked to create the next great meme-based cryptocurrency.<\/p>\n Of course, you don’t have to identify as either of those two categories of people to invest in Turbo.<\/p>\n However, you should do enough research to know why you are investing and to have a clear idea of what it is you are expecting from Turbo, including what will happen to it, how high it can go, and like.<\/p>\n It is still too early to determine whether Turbo has potential or not, but at the very least, it is an interesting project since it was created with the AI’s input.<\/p>\n What remains is to see where this unique origin will take it.<\/p>\n Getting started with Turbo is very simple, and all you need to do is follow a handful of short steps. These include the following:<\/p>\n Alternatively, you may also purchase the token directly from the CEXs that have listed the project.<\/p>\n Now that you know how to get started with Turbo, we should also note that it is always recommended to be highly cautious when it comes to crypto investing<\/a>.<\/p>\n That is even more important to keep in mind when it comes to new cryptocurrencies, such as this one, that have yet to prove themselves and withstand the test of time.<\/p>\n With that being the case, here are some tips that we recommend you keep in mind before buying Turbo:<\/p>\n Ever since cryptocurrencies started seeing serious levels of adoption, governments around the world reacted.<\/p>\n They realized that their citizens are earning from crypto trading and investing<\/a> and that the local laws do not require them to pay taxes on those profits.<\/p>\n Of course, it did not take long for nations all over the world to introduce taxes first, while regulations have still been quite rare and basic in most places, in some areas, there are no regulations at all.<\/p>\n The issue of regulatory clarity aside, chances are that you are under obligation to pay taxes to your government on any profits that you achieve from trading TURBO, as well as any other cryptocurrency.<\/p>\n Of course, there may still be some countries that do not yet have crypto tax laws, but if there are, they are certainly in the minority.<\/p>\n This means that you need to check your country’s laws first in order to know where you stand and how much you will owe if you become a successful trader.<\/p>\n Unfortunately, most nations have very high crypto taxes, but since there is no universal rule regarding how to tax crypto, each country has its own laws.<\/p>\n Like other cryptocurrencies, you can approach Turbo as a trader or as an investor. Both are perfectly valid methods of profiting from cryptocurrency, although both might not fit everyone.<\/p>\n Trading is by far a more complex matter, as it involves discipline, a cool head, strong technical and fundamental analysis, as well as skill and a sense of the market.<\/p>\n Trading requires you to keep track of price movements<\/a>, new developments surrounding the project, and also the market itself, and large, influential market players.<\/p>\n It requires you to keep an eye on these things constantly, as the market could take a turn at any moment, and you must be there, ready to exploit any emerging opportunity.<\/p>\n A lot of traders even use trading bots for this purpose, as they can analyze the market much more quickly than a human ever could.<\/p>\n Trading also takes time to learn, and it is based on a lot of trial and error, so you might end up losing a significant amount of money before you become skilled enough to start earning more than you are losing.<\/p>\n On the other hand, investing is a long-term process that requires some research into the project upfront.<\/p>\n Essentially, you want to determine that the project is legitimate, not a scam, a rug-pull, or too weak to survive.<\/p>\n Once you determine that it does have a future, you can simply buy some tokens, lock them up in a private wallet, and forget about them for months or even years to come.<\/p>\n Investing is based on the assumption that time will bring greater crypto adoption<\/a> and that a price increase will follow with it.<\/p>\n If we assume this to be correct, and you pick an asset that will stick around, then investing is a great way to earn money for your retirement or simply to have a small sum grow into a sizable amount that you will use for the future.<\/p>\n It requires nothing apart from some basic research, the ability to determine if the project has a future, and a lot of patience.<\/p>\n It requires less work than trading and certainly comes with less stress. However, the downside is that you will have to wait for years before you get to collect the money.<\/p>\n Trading, on the other hand, rewards you very quickly, although it only provides small amounts. But, if you are successful, over time, those small amounts can pile up into sizable earnings.<\/p>\n While price predictions are fairly unreliable, especially regarding long-term predictions, many traders and investors still like to hear experts’ opinions on different coins and tokens.<\/p>\n Experts have enough knowledge and experience to be able to provide some insight, and even if it is not very accurate, the general feeling about the project is something that can mean a lot to a newcomer who can’t decide whether to invest in a cryptocurrency or not.<\/p>\n This is why we have consulted several platforms whose experts have given their own insight into TURBO to try and see what it is they expect.<\/p>\n CoinCodex, for example, has had a negative 5-day prediction for the token, for several weeks now, which shows that the platform’s algorithms deem it to not have a bullish nature right now.<\/p>\n Obviously, even the greatest experts cannot know what will happen in the future, and given how young Turbo is, it is next to impossible to give an accurate prediction.<\/p>\n Unfortunately, at this time, there is simply too little data about the token, its ability to resist bearish or bullish influences, and alike. What the future may bring for Turbo is unknown, and these predictions should be taken with a grain of salt.<\/p>\n Still, if you are interested in Turbo, it is worth keeping an eye on the asset, especially if you believe that it might be a valuable investment opportunity<\/a>.<\/p>\n But, even if you do, it is likely for the best to rely on your own research and predictions rather than to act on someone else’s. After all, if the prediction is wrong, you are the one who will lose the money.<\/p>\n From what we have seen, Turbo is a rather risky investment at the moment. It might have potential, but so far, it has not had a chance to show what it can do.<\/p>\n But, if you are interested in investing in new meme coins, we could suggest an excellent alternative to Turbo that you can consider investing in right now.<\/p>\n\n
Turbo price history<\/h2>\n
![\"Turbo](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/11\/Turbo-Price-chart.jpg\")
<\/p>\nHow is the price of Turbo (TURBO) determined?<\/h2>\n
Supply and demand<\/h3>\n
Social media<\/h3>\n
Volume<\/h3>\n
Broader crypto market sentiment<\/h3>\n
Utility and development<\/h3>\n
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How often does the price of Turbo change?<\/h2>\n
Investing in Turbo<\/h2>\n
Is it worth buying Turbo in November 2024?<\/h3>\n
Who should invest in Turbo?<\/h3>\n
How to get started with Turbo Investments?<\/h3>\n
![\"Turbo](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/05\/Turbo-4.jpg\")
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Investing in Turbo tokens responsibly<\/h2>\n
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Turbo taxation<\/h2>\n
Day-trading Turbo vs. Long-term Turbo investments<\/h2>\n
Price predictions for Turbo tokens<\/h2>\n
The best Turbo alternative<\/h2>\n
![\"Pepe](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/11\/Pepe-Unchained-What-is-it.jpeg\")
<\/p>\n![\"Pepe](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/pepu.svg\")
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