A memecoin named after Coinbase co-founder Brian Armstrong’s cat is surging after the highest US crypto alternate added the digital asset to its itemizing roadmap.
Toshi (TOSHI), a memecoin constructed on the Ethereum (ETH) layer-2 scaling resolution Base, soared by triple proportion factors as Coinbase made the announcement.
A day earlier than the itemizing, TOSHI hit a low of $0.00001161 after which surged to a excessive of $0.0003679 after the information, a 216% acquire.
The memecoin has since retraced. TOSHI is buying and selling for $0.0002953 at time of writing. With a market cap of $126.5 million, TOSHI is the 507th largest crypto undertaking.
Coinbase makes use of the itemizing roadmap for transparency and to stop insider buying and selling on cash previous to them being listed. Being positioned on the itemizing roadmap means the agency has decided the asset will possible be out there for buying and selling sooner or later.
The Toshi undertaking says the memecoin was named after Armstrong’s cat in addition to the pseudonymous creator of Bitcoin (BTC), Satoshi Nakamoto, and is supposed to serve “because the face and mascot of Base.”
Says the undertaking.
“Toshi goals to turn out to be the face of Base and a number one determine within the burgeoning Base ecosystem. Leveraging a strong meme tradition and an increasing neighborhood, Toshi strives to be the premier memecoin on Base, drawing within the plenty with its vital utility and industry-recognized model to onboard billions on-chain.”
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