Coinbase Stock Hits Record Closing High, But Analysts Warn of Possible Pullback
Shares of Coinbase Global Inc. (COIN) closed at a new all-time high on Thursday, signaling renewed investor confidence — though some analysts caution the stock may be due for a correction.
“Going vertical now,” said Real Vision CEO Raoul Pal on X (formerly Twitter), celebrating Coinbase’s momentum. “Next step, crypto. The liquidity spigot is wide, wide open.”
Wow, $HOOD, $COIN and $RKLB going vertical now. All in the RV Pro portfolio (added to all via calls at April lows). $TSLA likely to follow.
Next step, crypto.
The liquidity spigot is wide, wide open…
— Raoul Pal (@RaoulGMI) June 26, 2025
New Record High Surpasses 2021 Peak
Coinbase closed Thursday’s trading session at $369.21, up 3.89% on the day and nearly 40% for the month, according to Google Finance. The price surpassed its previous all-time closing high of $357.39 set in November 2021.
On Tuesday, Coinbase also became the top-performing S&P 500 stock for the day, rallying 12.10%. The surge comes just one month after Coinbase made history as the first crypto-native company to join the S&P 500 on May 19.
The rally has been partly fueled by increased optimism around U.S. crypto regulation, especially after the GENIUS stablecoin bill progressed in the House on June 17. Coinbase co-founded USDC, one of the largest stablecoins in circulation, alongside Circle Internet Group in 2018 — a partnership that now generates 50% of Coinbase’s revenue.
Analysts Divided on What Comes Next
While many in the industry are bullish, opinions are split on whether Coinbase’s stock can sustain this momentum.
Investment adviser Andy Heilman noted that Coinbase’s weekly chart looks bullish, but warned that the stock may soon face a technical pullback.
“Weekly view on $COIN looks very bullish, even if it is due for a pullback,” he posted, suggesting a possible long-term breakout toward four-digit territory if current momentum continues.
Crypto analyst Cantonese Cat echoed this sentiment, saying the daily Bollinger Bands — a common volatility indicator — are expanding, hinting at further upside.
However, others were more cautious. Analyst Chad argued that COIN is “overextended above the upper Bollinger Band,” suggesting the stock is “ripe for a cooldown.”
Early Investors Finally See Recovery
Some long-term holders expressed relief after years of losses. “After buying Coinbase on day 1, I am finally back to the price I paid, 4 years later,” said crypto commentator Whoisdat.
Coinbase made its Nasdaq debut on April 14, 2021, opening at $381, but closed the day at $328.28 after an initial dip of over 14%.
As COIN enters uncharted territory, volatility remains high, and investor sentiment appears cautiously optimistic. Whether the rally marks a new chapter or a temporary spike depends on broader crypto market conditions and upcoming regulatory decisions in Washington.
