The rising star of the memecoin market, Toshi (TOSHI), has surged by over 100% in value following its addition to the Coinbase Roadmap. The cat-themed memecoin has gathered attention following the announcement.
The addition of TOSHI to the Coinbase Roadmap is a significant endorsement of the coin, as Coinbase is one of the largest and most trusted crypto exchanges globally. While the exchange didn’t confirm an immediate listing, being placed on their roadmap signals potential for future listing, which has historically led to increased trading volume and price gains for other coins.
TOSHI Spikes Over 110%
According to data from CoinMarketCap, the price of TOSHI soared over 110%, hitting $0.00029 shortly after the Coinbase listing news broke. Since then, the price has slightly corrected, trading at approximately $0.0003037, up 114% over the past 24 hours at the time of writing.
TOSHI’s surge comes as the broader memecoin market is seeing a resurgence. After a significant spike in popularity last year, meme coins continue to capture the attention of both crypto enthusiasts and the mainstream media.
Significantly, TOSHI’s trading volume has surged by more than 400%, reaching around $50 million, while its market capitalization has surpassed $100 million.
While the roadmap listing is a significant step forward, it is still unclear when TOSHI will officially launch on Coinbase. However, past trends show that listings on major platforms like Coinbase typically result in a swift increase in user activity and a notable rise in trading volume.
Growing Presence of Memecoins
Memecoins, once viewed primarily as speculative assets, are gaining recognition from major exchanges, signaling a shift in how they are perceived within the crypto space. Coinbase’s move to feature TOSHI in its listing roadmap underscores this changing trend and emphasizes the rising importance of these tokens.
Additionally, TOSHI’s growing prominence can be credited to its robust ecosystem, which boasts over 489,000 on-chain holders and around $1 million in Wrapped Ether (WETH) liquidity. These elements play a key role in its foundation and widespread adoption.
Following TOSHI’s performance, Rishi Prasad, a member of the Coinbase product team, shared on X that TOSHI would be the second Base-native memecoin to be listed on Coinbase, after Degen, which was added in October. While the Base blockchain was developed with backing from Coinbase, only a few Base-native tokens have been listed on the platform.
