Dramatic Increase in TOSHI Value by 40% Within a Single Day - Is this Boost Sustainable?
In a significant development for the cryptocurrency market, TOSHI, a memecoin named after Coinbase CEO Brian Armstrong's cat, experienced a 40% surge ahead of listings on major centralized exchanges.
The explosive rally of TOSHI was primarily driven by traders front-running the listings, with Binance announcing a Futures listing for TOSHI on the 17th of September. This announcement sparked a flurry of activity, as traders sought to capitalise on the anticipated price increase.
The mid-range of TOSHI's rising channel is approximately $0.00086. A liquidity pool exists between $0.00080 and $0.00070 that could potentially act as a price magnet. If the Federal Reserve's rate cut is somewhat cautious, the liquidity pool could influence TOSHI's price, potentially stabilising it or causing a further rise.
However, a drop below the mid-range could reinforce short-sellers' edge and potentially lead to a further decline in TOSHI's price. Losing the mid-range around $0.00080 could potentially dent the outlook for a sustained uptrend in TOSHI.
TOSHI's meteoric rise saw it blasting over 90%, from $0.00059 to $0.0011, but as of press time, the gains were reduced to around 55%. The sustained uptrend of TOSHI depends on holding above the mid-range of its rising channel.
Other notable developments include LBank and Upbit Korea listing TOSHI, causing its trading volume to increase over 3000%. However, it's important to note that the information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion.
As TOSHI continues to make waves in the cryptocurrency market, it will be interesting to see how it fares in the coming weeks and months. Stay tuned for more updates on this exciting memecoin.
Read also:
- Trade Disputes Escalate: Trump Imposes Tariffs, India Retaliates; threatened boycott ranges from McDonald's, Coca-Cola to iPhones
- Aquatech purchases Koch's Direct Lithium Extraction business, merging Li-ProTM DLE technology into the PEARLTM Technology Platform.
- Nepal's Journey: Evolution from Street Life to Political Power
- Li Auto faces scrutiny after crash test involving i8 model and a truck manufacturer sparks controversy
