Insights

Coinbase’s Risky Bet on Shiba Inu Paid Off

After listing SHIB on Coinbase in September we sounded the Alarm on why investors should take this joke coin seriously. We outlined the reason why Coinbase would list the coin when other platforms like Kraken refused. Closing shares of Coinbase hit a high last week, and are overall up around 40% since they started trading. Coinbase will report today on third-quarter revenue showcasing that it is 5X higher than it was a year ago. The company is likely to show around $1.57 billion in revenue and $1.68 in earnings per share according to analysts polled by Bloomberg.

Leave a Reply

Your email address will not be published.