TOSHI MEME coin intra-day volatility exceeds 260%, how to view the future market?

Toshi is an on-chain issuance, a meme coin with a cat theme, named after Toshi, the pet of Brian Armstrong, the founder and CEO of Coinbase. In 2023, Armstrong revealed on a podcast that his pet’s name is Toshi, which he described as a derivative word of Satoshi, the creator of Bitcoin.

TOSHI has recently been frequently listed on new trading platforms, stimulating the market demand for TOSHI. According to the market data from Gate.io, TOSHI is currently priced at $0.0002358, with a 24-hour high increase of up to 260% at one point, but has now narrowed to 65%. The current circulating market value of TOSHI is $99 million, ranking 527th in the overall market. During the meme frenzy in April 2024, TOSHI once surpassed a market value of $300 million. With more trading platforms going online this time, can TOSHI surpass its previous high?

TOSHI Market Analysis

Transaction Data

• Latest price: 0.00023581 USDT
• 24-hour increase: 1.95%
• 24-hour highest price: 0.00041199 USDT
• 24-hour lowest price: 0.00008 USDT
• 24-hour trading volume: 90,898,914,801 TOSHI
• Market Cap: 59,218,807 USDT

Trading Strategy Recommendations

Strategy 1: Short-term Rebound Trading

• Direction: Long
• Entry price: 0.00024 USDT
• Stop Loss Price: 0.00022 USDT
• Target price: 0.00030 USDT Reason: The current price is close to the 24-hour low, and the market may rebound. Considering the increase in the past 24 hours, there is a possibility of further upward movement in the short term. Set a stop loss to control the risk, and set the target price at 0.00030 USDT, which aligns with the expectation of a short-term rebound.

Strategy 2: Breakthrough Trading

• Direction: Bullish
• Entry price: 0.00030 USDT (breakthrough)
• Stop-loss price: 0.00028 USDT
• Target price: 0.00040 USDT Reason: If the price breaks through 0.00030 USDT, it may trigger more buying orders and form an upward trend. The stop loss is set at 0.00028 USDT to prevent the risk of false breakthroughs, and the target price is set at 0.00040 USDT, based on the expectation of historical highs.

Outlook

As a memecoin, TOSHI has attracted a lot of attention with its unique cat image and BTC background. Similar to successful memecoins like Floki and Dogecoin, TOSHI started with viral spread, but it is gradually evolving towards a more practical direction. This transformation may enhance its competitiveness in the market and bring more opportunities for long-term investors.

Although its price fluctuates greatly, TOSHI demonstrates long-term potential through deep integration with the Base blockchain and community-driven decentralized governance. Further market expansion and increased ecosystem functionality may be key to its future success.

Author: Icing, Gate.io Researcher Translator: Icing. *This article represents the author’s opinion only and does not constitute any trading advice. Investment carries risks, and users should make decisions cautiously. *This article is original content and owned by Gate.io. If you need to reprint, please indicate the author and source, otherwise legal responsibility will be pursued.