Toshi Token Soars on Coinbase Announcement

Toshi, a memecoin on the Base network, surged 133% in the past 24 hours after Coinbase announced plans to add it to its future listing roadmap.

The price of Toshi, named after Coinbase co-founder Brian Armstrong’s cat and Bitcoin’s creator Satoshi Nakamoto, jumped 160% at one point, reaching a high of $0.00036788 shortly after the announcement. It has since retraced some of its gains and is currently trading around $0.000305, according to CoinGecko data.

Toshi currently holds a market capitalization of $129.8 million, with over $49 million traded in the last 24 hours.

The token’s inclusion on Coinbase’s roadmap generated significant buzz on social media platform X, where some in the crypto community see it as a major step toward broader recognition for memecoins built on the Base blockchain.

Once listed, Toshi would be the second Base-native memecoin on Coinbase. Rishi Prasad, a product team member at Coinbase, noted this on X. Despite Base being a blockchain incubated by Coinbase, only one other Base-native memecoin, Degen, was listed back in October.

Coinbase remains one of the largest cryptocurrency exchanges globally, with a reported monthly trading volume of $191.9 billion in December, up from $175.8 billion in November.