If you’ve seen Toby (TOBY) pop up on your crypto tracker and wondered if it’s the next big thing, you’re not alone. But here’s the reality: TOBY isn’t a project. It’s not a product. It’s not even a community. It’s a meme coin - the kind that exists purely to create hype, attract quick trades, and vanish before you realize you’re holding something worthless.

What exactly is TOBY?

Toby (TOBY), also known as Toby ToadGod, is a cryptocurrency token built on the Base blockchain - a Layer 2 network built by Coinbase to make Ethereum transactions cheaper and faster. It launched with a fixed supply of 420 trillion tokens. That’s not a typo. Four hundred twenty trillion. Most of those tokens - over 90% - are already in circulation. The price per token? Around $0.00000003. You need millions of them to make even a single dollar.

This isn’t a bug. It’s the whole design. Meme coins like TOBY use absurdly high supplies and microscopic prices to trick people into thinking they’re getting a bargain. Buy 10 million TOBY? That’s just $0.30. Buy 100 million? Only $3. It feels affordable. It feels like you’re getting in early. But it’s just psychology.

Where can you trade TOBY?

You won’t find TOBY on Coinbase, Binance, or Kraken. It doesn’t belong on centralized exchanges. It lives entirely on decentralized exchanges (DEXs) running on Base - mostly SushiSwap v2 (Base) and PancakeSwap v2 (Base). That means you need to set up a wallet connected to Base, bridge ETH over from Ethereum (which costs gas), and then swap it for TOBY.

Even then, it’s a mess. Liquidity is razor-thin. On PancakeSwap, just $0.48 in trades can move the price by 2%. That’s not volatility - that’s manipulation waiting to happen. If someone dumps 10 million TOBY, the price crashes. If they buy 10 million, it spikes. And because there’s so little actual trading volume compared to its market cap, most of those trades are fake - wash trading between wallets controlled by the same people.

Is TOBY worth anything?

Market cap numbers look flashy: $5 million to $11 million depending on which site you check. But that’s misleading. TOBY ranks #5061 out of over 25,000 cryptocurrencies. That’s near the bottom. Dogecoin has a market cap of $14.7 billion. Shiba Inu? $3.9 billion. Even newer meme coins like PEPE and WOJAK are worth hundreds of times more.

And here’s the kicker: TOBY has no utility. No team. No roadmap. No website. No Twitter. No Discord. No GitHub. No updates. Nothing. CoinGecko, CryptoRank, and CoinMarketCap all list it as having “no recent development activity.” That’s not an oversight - it’s the norm for tokens like this. They’re built in minutes, dumped on DEXs, and left to rot.

Why do people still buy it?

Because they’re chasing pumps. On November 10, 2025, one platform showed TOBY up 17.7% in 24 hours. Another showed it down 8.2%. That kind of wild swing happens because there’s almost no real demand. A few bots, a handful of traders, and a wave of FOMO from people who saw a 30% jump on a TikTok video - that’s all it takes to move the price.

Reddit users are screaming about it. One wrote: “Got rekt on TOBY - tried to catch the dip after a 30% pump but liquidity vanished. Took 3 hours to sell 500k tokens.” Another said: “Checked the contract - zero renounced ownership, no liquidity locked. Classic honeypot.”

And they’re right. The contract hasn’t been renounced. That means whoever created it could still mint more tokens, drain the liquidity pool, or freeze wallets. There’s no safety net. No insurance. No recourse.

What do experts say?

Crypto analysts are blunt. CoinCheckup predicts a 25% drop in the next 24 hours. CoinDesk calls tokens like TOBY “speculative gambits that exploit retail investor psychology.” CoinTelegraph says they’re “the highest risk category for retail investors.”

The SEC has already flagged tokens like TOBY as unregistered securities - meaning if you’re a U.S. resident and you trade it, you could be breaking the law. Not because it’s illegal to own - but because it was likely sold as an investment without proper disclosure.

Delphi Digital predicts 68% of tokens like TOBY will become completely illiquid within 90 days. That means no one will be able to sell them. Ever. You’ll be stuck with a digital asset that no exchange will touch.

Should you buy TOBY?

No.

Not because it’s risky. Because it’s not an investment. It’s a gamble with odds stacked against you. There’s no underlying value. No team to build on it. No community to support it. Just a token with a cute name, a trillion-unit supply, and a bunch of bots making it look active.

If you’re looking to get into crypto, there are thousands of better places to start. Learn about Bitcoin. Understand Ethereum. Explore real DeFi protocols with audited contracts and active developers. Don’t waste your time chasing a ghost.

TOBY isn’t the next Dogecoin. It’s the next graveyard token - one of the 92% of low-cap meme coins that die within months of launch. The only people making money are the ones who created it and dumped it before you even heard the name.

What happens next?

Nothing. That’s the point.

TOBY will keep bouncing up and down on low volume. Someone will post a “1000x” meme on Twitter. A few new buyers will jump in. The price will spike. Then it will crash. Again. And again. Until the liquidity pool dries up. Until no one can sell. Until the token disappears from tracking sites altogether.

That’s the lifecycle of a meme coin like TOBY. And it’s already halfway done.