Toshi (TOSHI) Memecoin Surges 120% After Coinbase Listing Announcement

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Toshi (TOSHI), a cat-themed memecoin named after coinbase

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Global co-founder brian armstrong

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Brian Armstrong is one of the most well-known figures in the crypto industry today. He is an American investor, entrepreneur, and business executive. He is the CEO of Coinbase, a cryptocurrency platform. He is also a sought-after crypto expert and is often invited to speak at conferences all over the globe.
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Organization: Coinbase
Location: United States
Education: Master’s Degree in Computer Science from Rice University and Bachelor’s Degree in Computer science and economics from Rice University
Skills: Ruby and Javascript

Experience:

CEO & Co-Founder of Coinbase from Jun 2012 to Present
Technical Product Manager at Airbnb from May 2011 to Jun 2012
CEO and Cofounder of UniversityTutor.com from Aug 2003 to May 2012

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cat and the pseudonymous creator of Bitcoin, has received a major boost to its mainstream adoption. The memecoin built on the Base network will be listed on the Coinbase Global network after reaching a crucial milestone in terms of trading activity.

According to the announcement, Toshi memecoin was added to the listing roadmap by Coinbase Global. As a result, the Toshi token will follow other memecoin projects listed on the Coinbase exchange led by Peanut the Squirrel (PNUT), and Floki (FLOKI), among others

Impact on the Toshi Price Action

Following the listing plans on Coinbase Global, Toshi’s price rallied more than 120 percent in the past 24 hours to reach a daily high of about $0.0003679. The small-cap memecoin, with a fully diluted valuation of about $114 million, registered a 515 percent surge in daily average trading volume to about $60M.

Consequently, Toshi’s price rebounded above the daily 50 Moving Average (MA), thus invalidating the previous bearish sentiment. However, Toshi’s price must consistently close above the resistance level of around $0.0004 to guarantee a new bullish trend in the near term. 

Also Read :   DOGE & SHIB Prices Plunge: Will These Memecoins Recover?   ,

Fundamental Outlook

The small-cap memecoin has grown to a vibrant project listed on a dozen cryptocurrency exchanges and decentralized exchanges. As a result, Toshi has attracted more than more than 489k on-chain holders. Furthermore, Toshi has a decent liquidity of around $1 million in Wrapped Ether (WETH).

With the goal of becoming the premier memecoin on the Base network, Toshi’s listing in Coinbase will be a major boost. Moreover, the existence of thousands of memecoins has significantly diluted the altcoin industry, hence slowing down the timings of the much-anticipated altseason.