{"id":466172,"date":"2022-06-21T15:31:11","date_gmt":"2022-06-21T12:31:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/celsius-token-cel-rises-300-in-one-week-amid-a-gamestop-like-short-squeeze-event\/"},"modified":"2022-06-21T15:31:11","modified_gmt":"2022-06-21T12:31:11","slug":"celsius-token-cel-rises-300-in-one-week-amid-a-gamestop-like-short-squeeze-event","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/celsius-token-cel-rises-300-in-one-week-amid-a-gamestop-like-short-squeeze-event\/","title":{"rendered":"# Celsius token CEL rises 300% in one week amid a GameStop-like &#8216;short squeeze&#8217; event"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a34d41ea9299\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a34d41ea9299\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/celsius-token-cel-rises-300-in-one-week-amid-a-gamestop-like-short-squeeze-event\/#%E2%80%9D_Celsius_token_CEL_rises_300_in_one_week_amid_a_GameStop-like_%E2%80%98short_squeeze_event_%E2%80%9C\" >&#8221; Celsius token CEL rises 300% in one week amid a GameStop-like &#8216;short squeeze&#8217; event &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/celsius-token-cel-rises-300-in-one-week-amid-a-gamestop-like-short-squeeze-event\/#CEL_price_short_squeeze\" >CEL price short squeeze<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/celsius-token-cel-rises-300-in-one-week-amid-a-gamestop-like-short-squeeze-event\/#Insolvency_risks_sustain\" >Insolvency risks sustain<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Celsius_token_CEL_rises_300_in_one_week_amid_a_GameStop-like_%E2%80%98short_squeeze_event_%E2%80%9C\"><\/span>&#8221; Celsius token CEL rises 300% in one week amid a GameStop-like &#8216;short squeeze&#8217; event &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>The price of CEL, the native token of Celsius Network, has almost quadrupled since June 19 in what <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be a frenzy stirred up by day traders.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CEL_price_short_squeeze\"><\/span>CEL price short squeeze<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CEL&#8217;s price rose from $0.67 on June 19 to $1.59 on June 21, a 180% spike compared to the crypto market&#8217;s 12.37% rise in the same period. <\/p>\n<p>Notably, the rally started after PlanC, an independent market analyst, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheRealPlanC\/status\/1538561134319509505\">announced<\/a> a $20 million bounty for anyone who could prove that the Celsius Network suffered a coordinated attack at the hands of a third party, which prompted the crypto lending firm to suspend withdrawals\u00a0last week.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/748717f8-4e64-4001-ae6a-71677eb949cd.png\"><figcaption style=\"text-align: center;\"><em>CEL\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The announcement led to a frenzy on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, with many accounts placing the hashtag\u00a0#CelShortSqueeze\u00a0in their bio and thus reflecting their intentions to target investors who have betted CEL&#8217;s price would fall. <\/p>\n<p>The hashtag was trending higher in the U.S. on Twitter. Meanwhile, internet queries for the keyword, &#8220;CEL short squeeze&#8221; also reached a perfect score of 100 between June 12 and June 18, according to data tracked by Google Trends.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/f9fa454e-b8f7-49f3-95fe-5262c9934b21.png\"><figcaption style=\"text-align: center;\"><em>Internet queries for &#8216;CEL Short Squeeze.&#8217; Source: Google Trends<\/em><\/figcaption><\/figure>\n<p>The &#8220;trending&#8221; hashtag and keyword hint that day traders bought CEL tokens en masse, thus pushing its price upward. <\/p>\n<p>Thus, investors who were &#8220;short,&#8221; i.e., those who borrowed and sold the token in anticipations of buying it back at a lower price, had to purchase back at a higher price instead to &#8220;cover&#8221; their bearish positions. <\/p>\n<p>As a result, the so-called &#8220;short squeeze&#8221; proved successful, resulting in a massive CEL rally.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24CEL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$CEL<\/a> this actually might become the trade of the year. Shorters got REKT big time&#8230; <\/p>\n<p>You can&#8217;t make this shit up, that&#8217;s why I love <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Celsius?src=hash&amp;ref_src=twsrc%5Etfw\">#Celsius<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/CelShortSqueeze?src=hash&amp;ref_src=twsrc%5Etfw\">#CelShortSqueeze<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/A6OQwoQMhS\">pic.twitter.com\/A6OQwoQMhS<\/a><\/p>\n<p>\u2014 DoopieCash\u00ae (@DoopieCash) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DoopieCash\/status\/1539155912061079553?ref_src=twsrc%5Etfw\">June 21, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The event served as a reminder of the popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>Stock stock frenzy in January 2021, wherein an army of Redditors profited by damaging the short positions of\u00a0Melvin Capital and other hedge funds, causing billions of dollars of losses.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Insolvency_risks_sustain\"><\/span>Insolvency risks sustain<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Celsius Network, which <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/celsius-network-assets-are-officially-over-20-billion-301361803.html\">held<\/a> over $20 billion worth of digital assets under management last year, now risks becoming an insolvent organization. The reason is its inability to pay excessively high yields to clients (as much as 18%) on their crypto deposits.<\/p>\n<p>In May, Celsius had only $12 billion worth of assets, almost half of what it held at the beginning of 2022, according to its website. The firm stopped disclosing its assets under management afterward.<\/p>\n<p>CEL, a native currency inside the Celsius ecosystem for earning interest income and paying back debts, remains under downside pressure as it trades almost 84% below its peak level of $8 in April 2021.<\/p>\n<p><em><strong>Related:\u00a0<\/strong><strong>Cloudflare outage affects multiple crypto exchanges<\/strong><\/em><\/p>\n<p>The CEL\/USD pair now eyes a retest of $1.95 as its range resistance level, according to the Fibonacci retracement graph shown below.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/06626088-8036-4474-89a7-9cd5866414e7.png\"><figcaption style=\"text-align: center;\"><em>CEL\/USD weekly price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>While a successful break above the level could have CEL test $3.11 as its next upside target, a pullback, on the other hand, could drive the price lower toward $0.34, the current range support, down 73% from today&#8217;s price.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/celsius-token-cel-rises-300-in-one-week-amid-a-gamestop-like-short-squeeze-event\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Celsius token CEL rises 300% in one week amid a GameStop-like &#8216;short squeeze&#8217; event &#8220; The price of CEL, the native token of Celsius Network, has almost quadrupled since June 19 in what appears to be a frenzy stirred up by day traders. CEL price short squeeze CEL&#8217;s price rose from $0.67 on June&#8230;<\/p>\n","protected":false},"author":1,"featured_media":466173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvODcyNmUwMDktYWZhOC00MWI3LTllOTAtODk2ZjkxZTcyNTJkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,81262,79109,77595,107545,74939,90109,78261,70552,73785],"class_list":["post-466172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-cryptomarket","tag-interest-rate","tag-lending","tag-liquidity","tag-market-analysis","tag-peer-to-peer-lending","tag-tech-analysis","tag-interest-rates","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/466172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=466172"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/466172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/466173"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=466172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=466172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=466172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}