Cryptocurrency exchange Coinbase has announced that it is adding support for a new memecoin called Toshi (TOSHI), which uses the name and likeness of the CEO's pet dog. TOSHI is built on the Base network, an Ethereum layer-2 network incubated by Coinbase. Following the announcement, TOSHI experienced an initial surge of over 27% in value, but has since dropped to lower levels. TOSHI is one of many memecoins that have gained popularity in recent months, with many being supported through Solana, which has caused operational issues for some Coinbase users. Coinbase is working on scaling its infrastructure to accommodate the surge in Solana-based memecoin activity.



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