Coinbase Plots Its Next Memecoin Move: Will Toshi (TOSHI) Follow Peanut the Squirrel (PNUT) to the Spot Trading Platform?

After officially adding Peanut the Squirel (PNUT) to its spot trading platform, Coinbase sparked investors' interest with its latest memecoin addition to the listing roadmap.

Major cryptocurrency exchange Coinbase has added memecoin Toshi (TOSHI) to its roadmap for potential listing.

Coinbase, the largest crypto exchange in the United States, has now included TOSHI in its roadmap for potential listing, according to the listing page on the exchange’s website.

Being on the roadmap does not guarantee a listing. However, Coinbase has shown a tendency to quickly transition memecoins from the roadmap to active trading, highlighting its interest in this volatile and lucrative market segment.

The exchange recently added another prominent memecoin, Peanut the Squirrel (PNUT), to its spot trading platform, signaling a strategic effort to increase its presence in the memecoin market.

Memecoins, which are typically named after popular figures or internet memes and have no inherent utility, have soared in popularity over the past year, thanks largely to social media hype and endorsement by celebrities like Elon Musk.

These coins, which are known for their high trading volumes and price swings, have become a major source of revenue for exchanges.

The news of TOSHI's addition to the roadmap caused its price to increase by 187%, bringing its market capitalization to $146 million, according to CoinMarketCap.

TOSHI is not yet listed on Binance, despite this surge, which leaves room for further growth as it gains traction in the broader cryptocurrency market.