What’s Behind Coinbase’s 16% Surge in a Single Day?

▲ Source: Coinbase Blog ©CoinReaders

Coinbase shares surged 16% in a single day, drawing market attention as retail investors stepped in to buy the dip.

According to cryptocurrency media outlet CoinGape on February 15 (local time), Coinbase (COIN) closed at $164.32, up $23.23 from the previous session. After opening around $141, the stock maintained an upward trajectory throughout the trading day. The sharp rally came shortly after Coinbase CEO Brian Armstrong revealed that retail investors had aggressively purchased Bitcoin (BTC) and Ethereum (ETH) during the recent price correction.

Armstrong explained that since December last year through February, many retail investors have either maintained or increased their holdings. He described this behavior as “buying the dip” and exhibiting “diamond hands.” The buying activity was particularly concentrated in Bitcoin and Ethereum, which account for the largest share of Coinbase’s total trading volume. He also emphasized that retail wallet holdings in February remained higher than the levels seen in December.

From a technical perspective, key resistance levels are also being discussed. Analyst Ace noted that the weekly chart is testing a Fibonacci retracement zone and projected $186.19 as the first resistance level. If momentum strengthens, the upside could extend to $279.10, $365.48, and $426.98. However, he cautioned that until the stock reclaims $186.19, the mid-term structure may remain in a corrective phase.

Wall Street remains divided in its outlook. Bernstein set a price target of $212 and mentioned the long-term possibility of surpassing the all-time high above $500. However, several brokerage firms have lowered their targets. H.C. Wainwright set $350, Barclays $148, Canaccord Genuity $300, BTIG $280, Benchmark $267, Goldman Sachs $264, JPMorgan $252, Deutsche Bank $250, Rosenblatt $240, and Needham $230. Piper Sandler adjusted its target to $150, while Jefferies set $151.

Meanwhile, Armstrong recently sold more than $100 million worth of COIN shares and has reportedly disposed of approximately $500 million in holdings over the past year. At the same time, Coinbase posted a net loss of $666.7 million in the fourth quarter of 2025, falling short of Wall Street expectations. While retail dip-buying sentiment has pushed the stock higher, earnings performance and executive share sales remain overhangs.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted solely for informational purposes.*