TOSHI’s Explosive Surge: What You Need to Know
The cryptocurrency world has yet another rising star, TOSHI, a memecoin inspired by Coinbase CEO Brian Armstrong’s cat. This token experienced an impressive 40% surge, driven by recent major listings and a spike in trading volume.
The CEX Factor: Binance and Upbit Korea Fuel Momentum
The spike in TOSHI’s value was largely influenced by CEX listings. On September 17, Binance announced the Futures listing of TOSHI, while LBank and Upbit Korea followed suit, catapulting the memecoin into the spotlight. According to CoinMarketCap, this chain of events pushed the trading volume to soar over 3,000%, signaling unprecedented interest in the token.
Market Performance and Key Price Levels
TOSHI’s price climbed 90%—from $0.00059 to $0.0011—but later corrected to a 55% gain. On the charts, bullish momentum remains intact if TOSHI stays above the mid-range price channel of $0.00086. Sustaining this level could open the door for another 33% price increase, especially as more late-stage investors enter the market. However, a dip below this range could expose the token to lows between $0.00080 and $0.00070, as predicted by liquidation heatmap data.
Will the Bulls Hold?
While the mid-range support is crucial, much depends on broader market conditions, particularly the Federal Reserve’s stance on interest rate cuts. Any cautious approach by the Fed could impact liquidity pools and drive short-seller activity.
Invest Wisely with Crypto
For those looking to capitalize on market opportunities, it’s vital to stay informed. Consider using tools like the Binance Futures trading platform for advanced market analysis and trades.
A Word of Caution
The cryptocurrency market is highly volatile. TOSHI’s rise is certainly intriguing, but investors should conduct their own due diligence before diving in.
