Toshi, a memecoin on the Base network, experienced a significant price surge of 133% in the past 24 hours following Coinbase’s announcement that it will be adding the token to its future listing roadmap.
The price of Toshi, named after Coinbase co-founder Brian Armstrong’s cat and a nod to Bitcoin creator Satoshi Nakamoto, saw a peak increase of 160% at one point, reaching a high of $0.00036788. While it has since partially retraced its gains, it currently trades around $0.000305, according to CoinGecko data.
This surge has propelled Toshi’s market capitalization to $129.8 million, with over $49 million traded in the past 24 hours.
The news of Toshi’s potential listing on Coinbase generated significant buzz on social media platforms, particularly X. Many members of the crypto community viewed this as a crucial step towards broader recognition and adoption for memecoins built on the Base blockchain.
Rishi Prasad, a product manager at Coinbase, confirmed on X that Toshi would become the second Base-native memecoin to be listed on the exchange. Despite Base being incubated by Coinbase, only one Base-native memecoin, Degen, has been listed on the exchange to date, back in October.
Coinbase remains a dominant force in the crypto exchange market, with its monthly trading volume reaching $191.9 billion in December, an increase from $175.8 billion in November.
January 2025, Cryptoniteuae
