Toshi (TOSHI) Meme Coin Surges Over 77% Following Listing on Major Crypto Exchanges Led by Coinbase

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In the last 24 hours, Toshi, a meme coin inspired by Coinbase co-founder Brian Armstrong’s cat and the mysterious creator of Bitcoin, has seen significant growth. This small-scale meme coin operating on the Base network, an Ethereum layer two (L2) scaling solution backed by Coinbase Global Inc (NASDAQ: COIN), experienced a surge of approximately 120%, reaching a daily high of around $0.000367.

Consequently, Toshi ranks as the sixth-largest meme coin project on the Binance Smart Chain network in terms of market capitalization. Boasting a market cap of approximately $110 million, Toshi experienced a significant surge of over 500% in its daily average trading volume, reaching around $68 million.

Top Reasons Why Toshi Meme Coin Rallied Today

As a researcher, I’ve found that the primary factor driving over 77% surge in Toshi meme coin within the past 24 hours can be attributed to the supportive listing from Coinbase Global. On Wednesday, Coinbase Global made an announcement, revealing their intention to include Toshi on their listing schedule, thereby expanding their traded tokens.

As an analyst, I’d rephrase it this way: By backing Toshi, Coinbase is strategically positioning itself to draw in a larger community of meme coin traders. This influx of traders could boost trading volume on the exchange, which in turn could lead to higher revenue for our shareholders over time.

Additionally, Toshi takes advantage of the scalability offered by the Base network as well as the security provided by the Ethereum (ETH) network, thereby appealing to a larger number of meme coin investors.

The decision made by Crypto.com to list Toshi was inspired by, or mirrored, the fact that it will soon be listed on Coinbase.

Listing Toshi meme coin on Crypto.com could potentially bring it before over 100 million users, which might boost its price in the upcoming months. This surge could be fueled by the ongoing trend of investors shifting their crypto assets from Bitcoin and large-cap altcoins to mid-cap and small-cap altcoins like Toshi.

On Tuesday, it was announced that Toshi meme coin would be listed on the Bybit exchange, granting access to the spot grid bots function.

What’s Next?

In the last 24 hours, Toshi has experienced a significant surge, which aligns with the ongoing optimistic cryptocurrency market trend fueled by Bitcoin’s price jump above $97k following its dip below $90k earlier this week. This rebound suggests that Toshi might be preparing for a bullish run in the short term, as it has recovered from a crucial support point.

In simple terms, the Relative Strength Index (RSI) is trying to rise above the 70% threshold, while Toshi’s price has already surpassed its 50-day Moving Average (MA). This cat-themed meme coin has bounced back from a long-term downward trend, setting the stage for a potential sharp increase in value over the next few months.

Looking at the technical perspective, if the price of Toshi repeatedly surpasses its resistance point at approximately $0.0004 during closing, it could initiate a new bullish trend in the coming months. Additionally, the popularity of Toshi, a meme coin, has grown among cryptocurrency investors, largely due to its extensive liquidity, which is evident on both Decentralized Exchanges (DEXes) and Centralized Exchanges (CEXes).

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2025-01-15 16:30