<p>A large holder of the <a href="https://www.theblock.co/post/229907/pepes-no-different-where-theres-a-meme-theres-a-scam">Pepe memecoin</a> styled on the Pepe the Frog cartoon has a new trade — a token created by using OpenAI's ChatGPT language model for $69 called Turbo. </p> <p>A whale who has earned $14.5 million trading Pepe has been buying Turbo since May 3, according to on-chain data analyzed by Lookonchain. The trader is in the green, having bought 1.38 billion Turbo tokens for $977,000 that are now currently worth around $1.9 million.</p> <p>"This whale was not an early buyer of $PEPE, but he kept buying $PEPE from Apr 19 to 27 when the price of $PEPE was depressed," Lookonchain <a href="https://twitter.com/lookonchain/status/1655787865304084481">wrote on Twitter</a>. "So is he buying $TURBO because he knows something we don't?"</p> <p><img class="alignnone size-full wp-image-229974" src="https://www.tbstat.com/wp/uploads/2023/05/turbotoad2.jpg" alt="Turbo Toad token on Twitter." width="864" height="820" /></p> <h2>Turbo token surge comes amid fresh memecoin craze</h2> <p>The action is the latest in a fresh memecoin craze that has <a href="https://coinmarketcap.com/alexandria/article/is-memecoin-szn-back">some wondering</a> if crypto winter may be ending. Trading in the tokens is obviously risky, and decentralized exchange Uniswap currently <a href="https://app.uniswap.org/#/tokens/ethereum/0xa35923162c49cf95e6bf26623385eb431ad920d3">has a warning posted</a> about the token. That hasn't stopped it from surging 53.4% over the past 24 hours, <a href="https://dexscreener.com/ethereum/0x7baece5d47f1bc5e1953fbe0e9931d54dab6d810">according to DexScreener</a>. </p> <p>Turbo was launched last month, with its developer <a href="https://twitter.com/TurboToadToken/status/1652208208537325568">saying on Twitter</a> that the memecoin was "built from scratch with ChatGPT-4."</p> <p>The <a href="https://sites.google.com/view/turbotoad/whitepaper?authuser=0">project's whitepaper</a> details a budget of $69, a total supply of 69 billion tokens and says the memecoin "aims to establish itself as a leading meme coin with a unique identity and a strong focus on simplicity, fairness, and community engagement."</p> <p><img class="alignnone size-full wp-image-229968" src="https://www.tbstat.com/wp/uploads/2023/05/turbotoad1.jpg" alt="Turbo Toad" width="886" height="1029" /></p> <p>The token has more than doubled in price since trading ramped up earlier this month, and it currently has a market cap of $94.5 million, <a href="https://coinmarketcap.com/currencies/turbo/">according to CoinMarketCap</a>, which <a href="https://coinmarketcap.com/view/memes/">would place it among</a> the top 10 memecoins.</p> <p>Turbo's volume over the past 24 hours reached $141.8 million to make it the third-most traded memecoin behind Pepe and Dogecoin. The token pulled ahead of Shiba Inu in terms of volume traded on Tuesday.</p> <p><em>(Updates prices throughout.)</em></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>