3 Crypto Investments That Dwarfed Shiba Inu in 2023
Shiba Inu (CRYPTO: SHIB) is a popular meme coin for crypto investors. And it had a good year in 2023, with its value rising by just under 38%. But that pales in comparison to some of the returns crypto stocks generated for investors last year. Coinbase Global (NASDAQ: COIN), Bitfarms (NASDAQ: BITF), and Marathon Digital (NASDAQ: MARA) all more than quadrupled in value in 2023. Here's why investing in these stocks may be a better option for crypto investors than betting on Shiba Inu.
Coinbase Global runs a top cryptocurrency platform that makes it easy for people to buy and trade digital currencies. And with Bitcoin surging in value in recent months and interest high thanks to excitement relating to the approval of a Bitcoin spot exchange-traded fund, there could be an uptick in trading this year.
In its most recent quarter (ended Sept. 30, 2023), Coinbase reported revenue of $674 million, which rose by 14% year over year. And the company's net loss for the period also shrank to just under $2.3 million from nearly $545 million in the prior-year period.
Source Fool.com
Coinbase Global Inc. Stock
Currently there is a rather positive sentiment for Coinbase Global Inc. with 29 Buy predictions and 16 Sell predictions.
On the other hand, the target price of 157 € is below the current price of 191.0 € for Coinbase Global Inc., so the potential is actually -17.8%.
