Upbit lists TOSHI, sparking memecoin frenzy. We delve into the surge, memecoin market trends, and what it means for crypto traders.
Memecoin, Upbit, trading support: these are the buzzwords echoing through the crypto sphere. Upbit's recent listing of TOSHI has ignited a frenzy, but what's the real story? Let's dive in.
Upbit's Memecoin Move: The TOSHI Effect
South Korean exchange giant, Upbit, caused a stir by listing Toshi (TOSHI), a memecoin built on Coinbase’s Base layer-2 scaling solution. The listing on September 17, 2025, sent TOSHI soaring, highlighting Upbit's influence on altcoin prices. Was this a calculated move, or a happy accident? It's hard to say, but one thing's for sure: Upbit knows how to make waves.
TOSHI: More Than Just a Meme?
TOSHI, named after Coinbase CEO Brian Armstrong's cat and Bitcoin's Satoshi Nakamoto, blends meme culture with crypto-native humor. Before the listing, TOSHI traded around $0.0008872, experiencing a 55% surge leading up to the announcement. Analysts even speculated it could surpass its all-time high of $0.002273. With a market cap of $371.95 million and a volume-to-market-cap ratio of 89.63%, TOSHI showed strong liquidity and active trading interest. But can a memecoin sustain such momentum?
The Bigger Picture: Memecoin Market Trends
Dogecoin (DOGE), the original memecoin, continues to hold its own, consolidating below resistance at $0.28. The memecoin market capitalization index is approaching historic breakout levels, signaling potential further upside. Dogecoin's price often reflects broader sector sentiment, so a breakout could confirm further gains for other memecoins like TOSHI. Is this a sustainable rally, or just another flash in the pan? Only time will tell.
Other Upbit Listings: Euler and Plume
Upbit didn't stop at TOSHI. They also listed Euler (EUL), a DeFi protocol for lending and borrowing, and Plume (PLUME), focusing on Real World Assets (RWAs). Euler saw a 5.81% rise, trading at $9.84, while Plume experienced mixed price action. These listings showcase Upbit's intention to diversify its offerings, appealing to both speculative and utility-driven investors.
Is it Sustainable?
While the Upbit listings of TOSHI, Euler, and Plume have generated excitement, the key question is sustainability. Can TOSHI ride the meme coin wave to new heights? Will Euler establish itself as a top-tier DeFi protocol? And can Plume prove the value of RWA tokenization? These tokens have been given a powerful platform, and the crypto world is watching closely to see what happens next.
Final Thoughts
The Upbit listings have injected fresh energy into the crypto market, proving that exchange announcements can reshape the landscape overnight. Whether these tokens maintain their momentum remains to be seen, but for now, the market is buzzing with anticipation. One thing's for sure: the world of memecoins and crypto trading is never dull. So, buckle up and enjoy the ride – it's gonna be a wild one!
