Toshi (TOSHI): A New Cat Meme Coin on the Base Blockchain

Meme coins, such as Dogecoin, Pepe and Shiba Inu, have become household names seemingly overnight. These popular tokens themed around cute animals are well-known for having rapidly fluctuating prices. Such significant volatility has resulted in huge gains for many investors, with stories quickly spreading through social media platforms and other outlets, generating a buzz and raising interest from other crypto investors. 

These established tokens are now joined by a relatively new meme coin, Toshi, that’s already getting a considerable amount of attention from crypto traders. Toshi stands apart from other top meme coins with its fun cat theme and its use of the newly launched Base blockchain.

Key Takeaways:

• Toshi is the newest of the popular pet-themed meme coins. It functions on the Base blockchain, and has already generated a buzz on major social media platforms.
• A critical aspect of Toshi is its renounced contract ownership. Its liquidity is also secured and locked, protecting investors’ safety. 
• NFToshis is the NFT collection of the Toshi project.

What Is Toshi?

Toshi, the brainchild of Coinbase CEO Brian Armstrong, is a meme coin project named after Armstrong’s own cat — who, in turn, is named after Satoshi Nakamoto, the pseudonymous name used by the creator of Bitcoin. 

Currently, TOSHI is the largest of the crypto tokens on the Base network. This meme coin has already garnered incredible attention from investors, evident through the volume of social media posts and the coin's trading activity. In fact, in a 24-hour period on Aug 4, the trading volume for TOSHI on SushiSwap exceeded $10 million. While the excitement surrounding this crypto coin presents investors with a potentially great opportunity for gains, losses could be significant as well. With this in mind, investors should observe their own risk appetite before making trades.

What Is Base?

Base is a new Ethereum Layer 2 blockchain built on the Coinbase crypto exchange. Toshi runs on this fast, efficient blockchain.

Coinbase developed Base with OP Stack, an open-source Optimism blockchain. The testnet launch was in February 2023, and the mainnet launch date was Aug 9, 2023. Because it’s built on Ethereum Layer 2, the Base network offers enhanced stability, security and scalability for the projects it supports, and it’s interoperable with many other chains. 

Base provides the many benefits of the Ethereum virtual machine (EVM) with very low transaction fees. Decentralized apps (DApps) on the Base network benefit from easy access to the products, assets and distribution offered by Coinbase.

How Does Toshi Work?

Toshi is a meme coin, and these coins lack practical use that drives long-term growth. As with other meme coins, Toshi's utility is rooted in the potential financial benefits of price volatility and in the generally fun experience associated with it. However, Toshi stands out from other top meme coins, like Baby Doge Coin and others, in its use of renounced contract ownership (see below) and secured liquidity.

Making TOSHI coin trades is a fast process that can be completed in a few easy steps. On Toshi, click on the Trade Now tab and follow the prompts to connect a MetaMask wallet. Then, select your trading pair to complete the trade. You can also execute a trade with your preferred trading pair on Base. You simply need to add your MetaMask wallet to the Base network using Chain ID 8453 to get started.

Renounced Contract Ownership

A critical aspect of Toshi is its renounced contract ownership. When a smart contract is renounced, the creator loses control of it. As a result, the contract becomes both transparent and trustless. Investors benefit from Toshi’s renounced contract ownership due to an elevated sense of security, since contract creators aren’t able to alter or manipulate the contracts. The possibility of losses related to breaches and hacking is diminished, and this adds a layer of protection for investors’ benefit. In addition, renounced contract ownership enables all involved parties to view contract terms and conditions.

Secured Liquidity

Toshi’s liquidity is both secured and locked, which protects investors’ safety. This means that a supply of TOSHI tokens is locked in a smart contract, allowing investors to complete crypto transactions on decentralized exchanges (DEXs) without centralized market makers. Crypto tokens can be traded in a permissionless transaction.

NFToshis

NFToshis is the NFT collection of the Toshi project. It features 3,000 NFTs, inspired by Toshi the Cat, that have unique attributes with varying rarities, such as different styles of head/mouth/tail/eyes, head accessories and backgrounds.

If you’re interested in minting your very own NFToshi, visit the NFToshis website. 

TOSHI Tokenomics

The total supply of TOSHI is 420.69 billion tokens. As of Sep 5, 2023, the token price is $0.00000928. This price reflects a decrease of 18.6% over the last 24 hours. The 24-hour trading volume for TOSHI is $186,952. Meme coin prices — such as those for Dogecoin, Baby Doge Coin and others — are widely recognized for extreme price volatility, so each investor must consider their own risk appetite before committing to an investment in any meme coins. 

However, it’s worth noting that PricePrediction anticipates TOSHI’s price reaching $0.000041 in 2023, $0.00009733 in 2025 and $0.00064849 in 2030. Actual prices, however, are influenced by numerous factors, which makes it difficult to accurately predict the future price of meme coins. Hence, always practice due diligence before making an investment decision.

Is TOSHI a Good Investment?

Like other meme coins, TOSHI coins lack practical applications compared to more established tokens like ETH, and the token’s price is based purely on market sentiment and trading activity. The ability to turn a profit trading meme coins like TOSHI is rooted in volatility and trade volume. While TOSHI is a relatively new token available on decentralized exchanges, the buzz on social media outlets like X and others is considerable, which supports the likelihood of continued and even increased trading activity. 

While gains are possible with short-term holds of the TOSHI token due to its price volatility, the long-term trend for TOSHI is upward as well. This may make it feasible to benefit from gains from longer holds of TOSHI tokens. There’s always a risk of loss when trading any crypto tokens, including meme coins. However, the possibility for large gains is also present. With these factors in mind, investors should consider researching the market carefully and only investing the assets that they can afford to lose.

The Bottom Line

TOSHI is quickly gaining to rival the status of the top meme coins, making it a cryptocurrency to consider. You can conveniently get full details about the Toshi project on its website, and keep up with current and upcoming events on the latest and established tokens on major social media platforms. Many investors are already reaping profits from TOSHI, so this is an opportune time to take a closer look at the Toshi crypto project.

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