Is Coinbase Effect Dead? Crypto Assets Show Minimal Movement After Listing

In a continuation of good news for crypto asset Stellar, Coinbase recently announced the listing of XLM on its platform. Markets reacted positively to the news, with a 4% increase against the Dollar, but similar to XRP’s recent listing on the platform; investors were left feeling somewhat disappointed.
Is this further confirmation of Coinbase’s diminishing influence? Or, were past pumps the result of market manipulation?To be fair, a good amount of altcoins followed similar movements