TRENDING:
Australia CPI
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Toshi memecoin soars over 40% after Upbit listing sparks buying frenzy

  • Toshi price rallies more than 40% on Wednesday following its listing on South Korea’s largest crypto exchange, Upbit.
  • Market capitalization jumps above $361 million, surpassing meme coins like MOG and REKT.
  • The technical outlook suggests a continuation of the rally, with bulls targeting the $0.000996 mark.
Toshi memecoin soars over 40% after Upbit listing sparks buying frenzy
Manish ChhetriManish ChhetriFXStreet

Toshi (TOSHI) memecoin price surged more than 40%, trading above $0.000855 at the time of writing on Wednesday. This rally follows the confirmation of Upbit, South Korea’s largest crypto exchange, for the TOSHI listing. The rally pushed TOSHI’s market cap above $361 million, overtaking rivals like MOG and REKT, while technicals suggest further upside toward the $0.000996 target.

Why is TOSHI rallying today?

Toshi, a meme coin named after Coinbase co-founder Brian Armstrong’s cat, rallied by more than 40% on Wednesday. The main reason for this price surge was that Upbit, a crypto exchange, announced it would list TOSHI with trading pairs against KRW and USDT. 

This news triggered a massive surge in TOSHI price as a centralized exchange listing typically signals increased liquidity, accessibility, and investor confidence in the token.

CoinGecko data show that Toshi’s market capitalization reached $361.04 million on Wednesday, surpassing other popular meme coins, such as  Mog Coin (MOG) and Rekt (REKT), while aiming to overtake 1inch (INCH) as it secures the 238th spot in the overall crypto market capitalization table.

Toshi Price Forecast: Bulls aiming for $0.000996 mark

Toshi price is breaking above the descending trendline (drawn by connecting multiple highs since early February) on Wednesday and has rallied nearly 40%, trading around $0.000843.

If TOSHI continues its upward momentum, it could extend the gains toward its May 12 high of $0.000996.

The Relative Strength Index (RSI) on the daily chart reads 70, pointing upward, indicating strong bullish momentum.

TOSHI/USDT daily chart 

TOSHI/USDT daily chart 

However, if TOSHI faces a correction, it could find support around its weekly support at $0.000751.

Related news

Author

Manish Chhetri

Manish Chhetri is a crypto specialist with over four years of experience in the cryptocurrency industry.

More from Manish Chhetri
Share:

Editor's Picks

Uniswap Price Forecast: UNI tests 200-day EMA supply amid renewed retail demand

Uniswap Price Forecast: UNI tests 200-day EMA supply amid renewed retail demand

Uniswap (UNI) edges higher near an immediate resistance at $3.88 on Tuesday. The native decentralized exchange (DEX) token is defying a broader correction in the cryptocurrency market, even as Bitcoin (BTC) falls toward $63,000 from its July highs around $67,000.
XRP slides amid risk-averse pressure and ahead of Fed rate decision

XRP slides amid risk-averse pressure and ahead of Fed rate decision

Ripple (XRP) continues to trade under increasing pressure on Tuesday. This marks the second consecutive day of declines, reflecting broader risk-off sentiment as investors appear to shift gears in anticipation of the Federal Reserve (Fed) interest rate decision. On Wednesday, the Federal Open Market Committee (FOMC) is widely expected to leave interest rates unchanged in the 3.50%-3.75% range.
Crypto Today: Bitcoin, Ethereum, XRP remain under pressure as risk-off sentiment persists

Crypto Today: Bitcoin, Ethereum, XRP remain under pressure as risk-off sentiment persists

Bitcoin (BTC) is falling toward the immediate $63,000 support at the time of writing on Tuesday, weighed down by continued risk-off sentiment. Altcoins, including Ethereum (ETH) and Ripple (XRP), remain under pressure, trading below $1,900 and $1.10, respectively. Crypto market sentiment remains largely unresponsive and in the Fear territory, as reflected in the Fear & Greed Index.
Bitcoin price prediction: Is $60K back in focus as headwinds mount?

Bitcoin price prediction: Is $60K back in focus as headwinds mount?

Bitcoin is falling towards 63k, at a 10-day low, as a sell-off in AI-linked stocks has hit risk sentiment, spilling over into cryptocurrencies and as investors look cautiously ahead to tomorrow's FOMC rate decision. Bitcoin is down 2.7% over the past 24 hours and more than 4% over the past seven days as it extends its pullback from 67k the July high reached last week.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.