A crypto netizen suggested that his followers buy $TOSHI in the spot market and hold it for 3 months before reaping a 100X profit. Crypto netizen who goes by the pseudonym Crypto Sensei stated, “IF YOU INVEST $100 IN $TOSHI IT WILL BECOME $10,000.”
$TOSHI is a memecoin driven entirely by the Meow DAO community, with its circulating supply held by its holders. Founded by Coinbase co-founder Brian Armstrong, it is an inspiration of Armstrong’s cat and Bitcoin’s creator, Satoshi Nakamoto, serving as the mascot of the Base blockchain.
TOSHI is currently trading at $0.0005971 after gaining nearly 20% during the last month. During mid-July, the memecoin’s market cap crossed $300 million; however, as the month progressed, the market cap started to slide downwards. After nearly reaching $210 million, the TOSHI market cap is currently recovering, as it stands at $252 million.
In a symmetrical triangle, buyers and sellers are stuck in a stalemate. Buyers keep coming in at slightly higher prices, which shows that they are becoming more hopeful. Sellers keep selling at slightly lower prices, which shows that they are still being careful. Because neither side is strong enough to win, this tug-of-war makes the price range smaller. Each rally is weaker than the last, and each dip is quickly absorbed. This shows uncertainty but also rising pressure.
As the triangle gets smaller, traders think that one side will eventually win out over the other. This will cause a sharp breakout when either buyers come in with confidence or sellers break through support. If buyers are in charge of the market, prices will eventually break out of the triangle and go up.
When a symmetrical triangle breaks out, the price usually moves by about the same amount as the triangle’s widest part, which is called the “height.” This measurement is based on the first high and low that made up the pattern’s base. Traders use this predicted move to guess where prices might go after the breakout, whether they go up or down. Because the price is going up, TOSHI will reach $0.001.
