The crypto market’s unpredictability often plays a major role in token performance, especially in the performance of the meme-themed crypto. At present, the market is under a bull-bear battle, introducing crash-like conditions. Still, the Toshi meme coin is performing against the odds, with its price rising over 1000% in the last few days, and there are many bullish reasons behind this. Let’s discuss.
3 Reasons Behind Toshi Meme Coin Price Rally
TOSHI has been a part of the market for only a few months but is in decent demand. It is the 128th biggest cryptocurrency based on its market capitalization and has presented decent gains, with the ATH being just a day ago. There are three main reasons behind that, including its connection with a popular crypto platform, the demand for popular meme coins, and community support. Let’s discuss this one by one.
1. Coinbase Connection & Listing
Toshi meme coin gained its name from the Coinbase CEO Brian Armstrong’s cat. As most meme-themed cryptocurrencies are based on popular internet memes or influential crypto industry people, Toshi followed the same trend. With this, it quickly gained the crypto community’s attention, but the Coinbase listing news pushed it to another level.
Coinbase is one of the biggest crypto exchanges. It has officially listed the token, increasing its visibility and credibility in the market. This fueled investor sentiment, causing the Toshi price to reach an all-time high of $0.002273 just a day ago.
2. Meme Coin Frenzy
Since last year, the meme coin frenzy has increased demand for this category. Investors began to invest heavily in meme-themed cryptocurrencies, and the crypto market has witnessed a rising interest in them. This interest has been fueled by US President Donald Trump’s launch of TRUMP and MELANIA meme coins.
Since its launch in September 2024, the Toshi has surged more than 3800.92%. The price has increased over 1000% in the last two weeks alone, confirming the building momentum with Trump’s inauguration event on January 20, 2025.
3. Tokenomics and Community Support
A token’s community plays a major role in its performance, and their sentiments can make or break the performance. The Toshi meme coin quickly grabbed the attention of the right audience and maintained significant momentum, especially as tokenomics led to its scarcity. More concisely, Toshi has a total supply of 420.69 billion. Of these, 408.7 billion are in circulation, less than many meme-themed cryptocurrencies, creating scarcity and demand.
These three features have boosted the Toshi meme coin price to new highs, but the question is whether it can continue to move away from the Bitcoin market crash odds.
Toshi Token Price Hits ATH, What’s Next?
At the time of reporting, the Toshi token trades at $0.001357 with a market capitalization of $553.69M. It has moved significantly away from its peak. Just a day ago, the token surged and created an ATH of $0.002273 after more than a 1000% rally over two weeks, 300% over the week.
However, the induced ATH volatility dropped the token, especially with current market crash-like conditions. Interestingly, the trading volume is $393.08M after a 66% surge, showing high investor interest, which could aid in its recovery.
From a technical standpoint, the four-hour TOSHI/ USDT chart shows that the token is at a critical point. It is now near the demand zone, which could be a support that could deliver two outcomes.
A bounce from the demand zone could introduce a bullish momentum, pushing the Toshi price to $0.00116. However, a further correction from the current level could cause a drop to $0.000516 before stabilizing and attempting a recovery.
Bottom Line
The Toshi meme coin has taken a 180-degree turn within a day, moving from bullish acceleration to downturns. This happened as the volatility hit the token past its ATH milestone, and the broader market sentiments also played a role. At present, it is near the demand zone, where an uptrend could result in the TOSHI price achieving $0.00116, but the consolidation could drop it to $0.000516.
The post 3 Reasons Why Toshi Meme Coin Price is Up 1000% appeared first on CoinGape.
