COIN: IPO Break at $429 Can Send Stock To $600 By Year End

$Coinbase Global, Inc.(COIN)$ IPO Break at $429 Can Send Stock To $600 By Year End📈

We finally broke out of the 7 month bull flag range back in June and tested the IPO high of 430. We couldn't hold long above 430, but looks like we are setting up to retest the IPO high and possibly breakout into a multi-month move. If we break and hold above 430 we can see 600 by year-end!

Growth Drivers

Coinbase is the backbone custodian/prime broker for BTC & ETH spot ETFs, benefitting directly from continued institutional inflows,

Explosive growth in USDC revenue, recurring subs (Coinbase One), and derivatives (U.S. perps now live),

Onchain growth via Base + strengthened institutional custody credibility with BlackRock & ETH ETF partners,

Recent Developments

Q1 revenue $2.03B; subs/services $698M (+9% Q/Q), USDC rev +32%,

U.S. perpetual futures launched July 21 + JPMorgan partnership to integrate Coinbase with Chase UR points & credit card funding,

Q2 earnings Thursday (7/31), options imply ~7% move,

U.S. admin rolling out a pro‑crypto policy report (tokenization, stablecoins). Combined with Coinbase’s SEC case dismissal, regulatory overhang is easing.,

I have a $600 price target for Coinbase by year-end, but think its very possible to hit $800 depending on this administrations progress on the crypto reserve.

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