Coinbase Global Inc. ($COIN) Stock Forecast: Down 5.0% Today

What is Coinbase Global Inc.?

COIN, also known as Coinbase Global, Inc., is a prominent cryptocurrency exchange platform that allows users to buy, sell, and store various digital assets. The company went public in April 2021 through a direct listing on the Nasdaq.

Why is Coinbase Global Inc. going down?

COIN stock is down 5.0% on Nov 21, 2024 19:58

• The bearish movement in COIN today could be attributed to the overall impact of the Trump election victory and the Republican "mandate."
• Despite the positive sentiment towards meme coins like Bonk and Floki, the focus on these alternative cryptocurrencies might have diverted attention away from established platforms like Coinbase, potentially affecting its market performance.
• Jim Cramer's endorsement of Coinbase as a "winner" might not have been enough to counteract broader market trends and investor sentiment, leading to the bearish movement observed today.
• The speculation surrounding Coinbase potentially listing Floki could have created uncertainty among investors, contributing to the downward pressure on COIN's stock price.

COIN Price Chart

COIN Technical Analysis

COIN News

Trump Election Victory: 5 Stocks Benefit Most

The resounding Trump election victory and the Republican "mandate" will dramatically impact stocks like GEO Group, Coinbase, and Tesla.

https://www.zacks.com/commentary/2373027/trump-election-victory-5-stocks-benefit-most

This Dog Coin Is Up 42% Last Week And Traders Call It The 'Strongest One Lately'...But It's Not Dogecoin

Bonk BONK/USD has rallied 42% in the past week, prompting traders to point out its relative strength over other meme coins. What Happened: The meme coin has secured its position as the top Solana-based meme coin and the fourth largest meme coin overall.

https://www.benzinga.com/markets/cryptocurrency/24/11/42090152/this-dog-coin-is-up-42-last-week-and-traders-call-it-the-strongest-one-lately-but-its-not-

Jim Cramer: Coinbase Is A 'Winner,' Suggests Buying This 'Hated' Big Pharma Stock - Eli Lilly ( NYSE:LLY )

On CNBC's "Mad Money Lightning Round," Jim Cramer said Eli Lilly LLY is a buy. "This stock is as hated now as it was loved not that long ago," he added. Eli Lilly on Monday said Muvalaplin met secondary endpoints for all three tested doses. Coinbase Global, Inc. COIN is a "winner," Cramer said.

https://www.benzinga.com/trading-ideas/long-ideas/24/11/42068776/jim-cramer-coinbase-is-a-winner-suggests-buying-this-hated-big-pharma-stock

Zacks Investment Ideas feature highlights: Nasdaq 100 Index ETF, Tesla, Coinbase, MicroStrategy and Root

Nasdaq 100 Index ETF, Tesla, Coinbase, MicroStrategy and Root have been highlighted in this Investment Ideas article.

https://www.zacks.com/stock/news/2371291/zacks-investment-ideas-feature-highlights-nasdaq-100-index-etf-tesla-coinbase-microstrategy-and-root

Forget Dogecoin And Shiba Inu - This Meme Coin Skyrockets After Coinbase Hints At Possible Listing

Dogecoin DOGE/USD rival meme coin Floki FLOKI/USD has experienced a significant surge in value. This comes on the heels of an announcement by Coinbase, a leading US crypto exchange, about the potential inclusion of FLOKI in its future listings.

https://www.benzinga.com/markets/cryptocurrency/24/11/42027124/forget-dogecoin-and-shiba-inu-this-meme-coin-skyrockets-after-coinbase-hints-at-possible-l

Trending Today

Memecoin ($MEME) Crypto Forecast: Up 5.9% Today

Solana ($SOL) Crypto Forecast: Up 7.7% Today

Litecoin ($LTC) Crypto Forecast: Up 6.0% Today

Pepe ($PEPE) Crypto Forecast: Up 10.2% Today

Starknet ($STRK) Crypto Forecast: Up 10.3% Today

Optimism ($OP) Crypto Forecast: Up 26.3% Today

Arbitrum ($ARB) Crypto Forecast: Up 16.9% Today

XRP ($XRP) Crypto Forecast: Up 7.8% Today

Ethereum Classic ($ETC) Crypto Forecast: Up 6.6% Today

Ethereum ($ETH) Crypto Forecast: Up 9.1% Today

Coinbase Global Inc. Price History

18.10.2024 - COIN Stock was up 5.1%

• COIN stock experienced a strong bullish movement, rising over 9% at the high of the day.
• The surge in COIN's price could be attributed to the news of a Power Inflow alert received by Coinbase Global Inc., indicating significant interest from institutional investors and traders following smart money flows.
• Additionally, the announcement of a potential listing of meme coin Floki on Coinbase might have generated excitement and optimism among investors, contributing to the bullish momentum of COIN.
• The overall positive sentiment in the cryptocurrency market, fueled by Bitcoin's surge to a new all-time high and the increasing popularity of mobile crypto apps, likely provided a favorable environment for COIN's price appreciation.

13.10.2024 - COIN Stock was down 5.1%

• The introduction of the Coinbase 50 Index tracking the top 50 digital assets could have led to a shift in focus from COIN itself to a more diversified portfolio, impacting its stock price negatively.
• The bullish movement in Bitcoin, influenced by the crypto-friendly sentiment surrounding Donald Trump's win, might have diverted investor attention away from COIN, causing a bearish trend.
• The bearish options trends towards COIN by deep-pocketed investors could have signaled a lack of confidence in the company's future performance, contributing to the downward movement.
• The Power Inflow alert and rise in COIN after the signal might indicate a temporary positive response, but the overall market sentiment seems to have been dominated by the broader crypto trends and options activity, leading to the bearish movement in COIN.

20.10.2024 - COIN Stock was down 5.5%

• The bearish movement in COIN today could be attributed to profit-taking by investors after a period of strong gains.
• The positive sentiment towards meme coins like Bonk and Floki, as well as the potential listing of Floki on Coinbase, may have diverted some attention and investment away from COIN.
• Jim Cramer's endorsement of COIN as a "winner" could have provided some support, but the overall market sentiment might have overshadowed this recommendation.
• The broader market focus on meme coins and other cryptocurrencies like Dogecoin and Shiba Inu, as well as the performance of other mid-cap and large-cap stocks, could have influenced the bearish movement in COIN today.

12.10.2024 - COIN Stock was down 5.8%

• The bearish movement in COIN today can be attributed to profit-taking by investors after a period of significant gains.
• Despite the positive news surrounding Bitcoin's rally near $90,000 and the surge in BTC-linked stocks, COIN may have experienced a pullback due to overvaluation concerns.
• The bearish options trends and profit-taking behavior of deep-pocketed investors could have influenced the downward movement in COIN.
• The Power Inflow alert followed by a rise in COIN's price indicates that there might have been some short-term buying interest, but overall sentiment turned bearish leading to the decline in stock price.

07.10.2024 - COIN Stock was up 10.7%

• Coinbase's partnership with iTrustCapital for custodial services for retail client digital assets has likely boosted investor confidence in the platform's reliability and security.
• The positive shift for crypto and economic freedom following the US election, as emphasized by Coinbase's CEO, has contributed to the bullish movement of Coinbase's stock.
• The surge in Coinbase's share price and other Bitcoin-related stocks after the US election outcome indicates market optimism towards a more crypto-friendly regulatory environment.
• Coinbase's executive advocating for SEC reform post-election points towards a desire for regulatory changes that could further support crypto innovation and market growth, bolstering the positive momentum of the asset.

07.10.2024 - COIN Stock was up 5.6%

• Coinbase CEO's warning to lawmakers about the consequences of being anti-crypto likely boosted investor confidence in the future of cryptocurrencies, including COIN.
• The surge in U.S. stock market and ETFs following Donald Trump's election win contributed to the overall bullish sentiment, benefiting COIN as well.
• The partnership between Coinbase Custody and iTrustCapital to provide custodial services for retail client digital assets further solidified COIN's position in the market.
• The general optimism surrounding the future regulatory environment for cryptocurrencies post the US election results fueled investor interest in crypto-related stocks like COIN.

11.10.2024 - COIN Stock was up 8.8%

• Coinbase stock surged above $300 for the first time since 2021, indicating renewed investor confidence in the company's growth prospects.
• The deployment of Bitcoin on Solana by Coinbase aims to tap into the expanding DeFi market, showcasing the platform's commitment to innovation and diversification.
• Legal actions and deadlines related to securities class action lawsuits against Coinbase may have initially caused some uncertainty but were overshadowed by positive market developments.
• CEO Brian Armstrong's bold statement warning against being "anti-crypto" likely resonated with investors, reinforcing the long-term potential of cryptocurrencies and boosting COIN's stock performance.

12.10.2024 - COIN Stock was up 5.1%

• The bullish movement in COIN today can be attributed to several factors:
• The surge in Bitcoin's price, nearing $90,000, has positively impacted stocks associated with the cryptocurrency, including COIN.
• The Power Inflow alert received by Coinbase Global Inc. could have attracted more investors, leading to a 4.9% rise in the stock.
• Breaking the $300 mark for the first time since 2021 indicates renewed investor interest and confidence in the company.
• The deployment of Coinbase-wrapped Bitcoin on Solana to grow the DeFi market could have also contributed to the positive sentiment surrounding COIN.

08.10.2024 - COIN Stock was up 9.1%

• Coinbase's deployment of Bitcoin on Solana for DeFi purposes likely contributed to the bullish movement, attracting more users to participate in Solana's DeFi ecosystem.
• The warning from Coinbase's CEO, Brian Armstrong, emphasizing the importance of crypto acceptance may have boosted investor confidence in the company's future prospects.
• The overall positive sentiment in the cryptocurrency market, fueled by events like Donald Trump's victory leading to a stock market surge, could have also positively impacted COIN's bullish movement.

08.10.2024 - COIN Stock was up 5.5%

• The deadline reminder for a securities class action lawsuit may have initially caused some uncertainty among investors, but the bullish movement suggests that market participants are optimistic about the company's future.
• The deployment of Bitcoin on Solana by Coinbase could have contributed to the positive sentiment, indicating the company's efforts to expand its presence in the growing DeFi market.
• CEO Brian Armstrong's bold statement warning against being anti-crypto might have resonated positively with investors, showcasing strong leadership and confidence in the industry.
• The overall surge in the U.S. stock market following news of Donald Trump's victory could have also provided a favorable market environment for COIN and other related assets.

08.10.2024 - COIN Stock was up 5.5%

• The bullish movement in COIN today is linked to the favorable news about the integration of Bitcoin on Solana's DeFi ecosystem by Coinbase. This step is considered as a strategic move to broaden its services and enter the growing DeFi market.
• Furthermore, the statement from Coinbase CEO Brian Armstrong to lawmakers, underlining the significance of adopting cryptocurrencies, may have bolstered investor confidence in the company's future prospects.
• The nearing deadline in the class action lawsuit against Coinbase Global, Inc. appears to have had limited impact on the stock's performance today, as investors paid more attention to the positive developments and remarks from the company's leadership.
• The general bullish mood in the U.S. stock market, driven by re-election hopes for Donald Trump, likely played a part in the rise of COIN's price, indicating an overall positive market sentiment towards risk assets such as cryptocurrencies.

21.10.2024 - COIN Stock was down 5.0%

• The bearish movement in COIN today could be attributed to the overall impact of the Trump election victory and the Republican "mandate."
• Despite the positive sentiment towards meme coins like Bonk and Floki, the focus on these alternative cryptocurrencies might have diverted attention away from established platforms like Coinbase, potentially affecting its market performance.
• Jim Cramer's endorsement of Coinbase as a "winner" might not have been enough to counteract broader market trends and investor sentiment, leading to the bearish movement observed today.
• The speculation surrounding Coinbase potentially listing Floki could have created uncertainty among investors, contributing to the downward pressure on COIN's stock price.