A memecoin named after Coinbase co-founder Brian Armstrong’s cat is booming after the leading US crypto exchange added the digital asset to its listing roadmap.
Toshi (TOSHI), a memecoin built on top of Ethereum’s (ETH) layer 2 scaling solution, soared three percentage points when Coinbase made the announcement.
A day before the listing, TOSHI hit a low of $0.00001161, then surged to a high of $0.0003679 after the news, a gain of 216%.
The memecoin has since retraced. TOSHI is trading at $0.0002953 at the time of writing. With a market capitalization of $126.5 million, TOSHI is the 507th largest crypto project.
Coinbase uses the Listing Roadmap for transparency and to prevent insider trading of coins before they are listed. Being placed on the listing roadmap means the company has determined that the asset is likely to be available for trading in the future.
The Toshi Project says the memecoin is named after Armstrong’s cat as well as the pseudonymous creator of Bitcoin (BTC), Satoshi Nakamoto, and is intended to serve as “the face and mascot of Base.”
Said the project.
“Toshi aims to become the face of Base and a leading figure in Base’s growing ecosystem. Built on a robust meme culture and growing community, Toshi strives to be the first memecoin on Base, attracting the masses with its significant utility and industry-recognized brand to onboard billions of dollars in chain.
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