Toshi, a memecoin on the Base network, surged 133% in the past 24 hours after Coinbase announced Tuesday that it is adding the token 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 part of its gains and is currently trading at around $0.000305, according to CoinGecko data.
Toshi currently holds a market capitalization of $129.8 million, and saw over $49 million traded in the past 24 hours.
The token's inclusion on Coinbase's listing roadmap generated buzz on social media platform X, with some members of the crypto community viewing this as a major step toward wider recognition for memecoins built on the Base blockchain.
Once listed, Toshi would become the second Base-native memecoin to be listed on Coinbase, Rishi Prasad, who works on product at Coinbase, wrote on X. In spite of Base being a blockchain incubated by Coinbase, the exchange has only listed one Base-native memecoin, Degen, back in October, according to Prasad.
Coinbase remains one of the world's largest crypto exchanges, with its monthly trading volume reaching $191.9 billion in December from $175.8 billion in November.
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