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Toshi (TOSHI) Meme Coin Surges Over 77% Following Listing on Major Crypto Exchanges Led by Coinbase
01/15/2025 20:18
The rise of meme coins has helped the Toshi token attract more than 480k on-chain holders, signaling potential bullish sentiment ahead.
Key Notes
- Toshi price has rebounded from a crucial support level which could lead to a bull run amid the highly anticipated altseason.
- The electrifying bullish sentiment for Base memecoins will be a major boost for Coinbase revenue in the long haul.
Toshi TOSHI $0.00027 24h volatility: 89.6% Market cap: $112.37 M Vol. 24h: $75.12 M , a meme coin project named after Coinbase co-founder Brian Armstrong’s cat and the pseudonymous creator of Bitcoin, registered palpable gains in the past 24 hours. The small-cap meme coin developed on the Base network, an Ethereum layer two (L2) scaling solution backed by Coinbase Global Inc (NASDAQ: COIN), rallied nearly 120% in the past 24 hours to reach a daily peak of about $0.000367.
As a result, the Toshi meme coin is the sixth-largest meme coin project on the Base network by market capitalization. With a market cap of about $110 million, Toshi registered a more than 500% spike in daily average traded volume to hover about $68 million.
Top Reasons Why Toshi Meme Coin Rallied Today
The top reason why Toshi meme coin rallied more than 77% in the past 24 hours was mainly due to the listing support from Coinbase Global. Earlier on Wednesday, Coinbase Global announced that it had added Toshi to the listing roadmap to enrich its traded tokens.
The support of Toshi by Coinbase is a tactical move that will help the company attract more meme coin traders. Coinbase exchange will help its shareholders through increased trading, which eventually reciprocates to increased revenue over the quarters.
Moreover, Toshi leverages the scalability of the Base network and the security of the Ethereum (ETH) network to attract more meme coin investors.
The upcoming listing of Toshi on Coinbase has influenced a similar decision by the crypto.com exchange.
The listing of Toshi meme coin on Crypto.com will expose it to more than 100 million users. As a result, Toshi’s price is well positioned to rally further in the coming months catalyzed by the ongoing crypto cash rotation from Bitcoin and large-cap altcoins to mid-cap and small-cap altcoins.
On Tuesday, the Bybit exchange announced the listing of the Toshi meme coin, with the spot grid bots function made available.
What’s Next?
The notable rebound of Toshi in the past 24 hours has coincided with the ongoing crypto bullish sentiment catalyzed by the Bitcoin price rally above $97k after teasing below $90k earlier this week. Toshi price rebounded from a crucial support level, signaling the onset of a potential bull rally in the near term.
As the daily Relative Strength Index (RSI) attempts to rally above the 70% level, Toshi’s price has already closed above the 50-day Moving Average (MA). Furthermore, the cat-themed meme coin has rebounded from a multi-month falling logarithmic trend in preparation for a parabolic rally in the coming months.
From a technical analysis standpoint, if the Toshi price consistently closes above the resistance level of $0.0004, a new bull run will be kickstarted in the subsequent months. Furthermore, the Toshi meme coin has attracted more crypto investors due to its deep liquidity, including on DEXes and CEXes.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
