Greed

Cryptocurrency

Jito

Unifi Protocol DAO

Unifi

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 <p class="paragraph">Greed is again a dominating sentiment after a retracement earlier this week, with most <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency projects showing bullish signals.</p>
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 <p class="paragraph">However, data retrieved by Finbold from <em>CoinGlass</em>’s long/short ratio on December 14 shows that a few <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies remain dominated by short positions. Considering the sentiment shift, such a scenario in the derivative market could lead to short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a>s.</p>
 <p class="paragraph">Particularly, Jito (JTO) and Unifi Protocol (UNFI) record a high weight of short-selling volume. This becomes even more relevant considering both tokens’ relatively low 24-hour volume and market capitalization.</p>
 <h2 class="wp-block-heading" id="h-will-jito-jto-face-a-short-squeeze">Will Jito (JTO) face a short squeeze?</h2>
 <p class="paragraph">The JTO token is currently trading at $3.03, up 12% in the day. Surprisingly, it is still dominated by short over long positions in both the 12 and 24-hour time frames.</p>
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 <p class="paragraph">First, Jito has $172.87 million (52.53%) of opened shorts in the last 12 hours, and second, $319.92 million (52.08%) of bearish volume in the larger frame.&nbsp;</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="94" src="https://cdn.thebittimes.com/images/2023/12/14/8fe7515cd44eb28ec0db5a515eb7324b.webp" alt class="wp-image-143064" srcset="https://cdn.thebittimes.com/images/2023/12/14/8fe7515cd44eb28ec0db5a515eb7324b.webp 1024w, https://cdn.thebittimes.com/images/2023/12/14/8fe7515cd44eb28ec0db5a515eb7324b.webp 300w, https://cdn.thebittimes.com/images/2023/12/14/8fe7515cd44eb28ec0db5a515eb7324b.webp 768w, https://cdn.thebittimes.com/images/2023/12/14/8fe7515cd44eb28ec0db5a515eb7324b.webp 1536w, https://cdn.thebittimes.com/images/2023/12/14/8fe7515cd44eb28ec0db5a515eb7324b.webp 1948w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   JTO Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
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 <p class="paragraph">In the meantime, JTO has both a $349.13 million market cap and a $330.32 million daily exchanged volume. Very close values to the $319.92 million of opened short positions in the last 24 hours, making it very likely to face a short <a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> at any moment.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="580" height="238" src="https://cdn.thebittimes.com/images/2023/12/14/368cd04c78ba26b9b1abcf2cc686e8b5.webp" alt class="wp-image-143065" srcset="https://cdn.thebittimes.com/images/2023/12/14/368cd04c78ba26b9b1abcf2cc686e8b5.webp 580w, https://cdn.thebittimes.com/images/2023/12/14/368cd04c78ba26b9b1abcf2cc686e8b5.webp 300w" sizes="(max-width: 580px) 100vw, 580px">
  <figcaption class="wp-element-caption">
   Jito market cap and volume (24h). Source: <em>CoinMarketCap</em>
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 </figure>
 <h2 class="wp-block-heading" id="strong-short-squeeze-alert-for-unifi-protocol-unfi-strong"><strong>Short squeeze alert for Unifi Protocol (UNFI)</strong></h2>
 <p class="paragraph">Another likely short-<a rel="noopener noreferrer nofollow" title="squeeze" href="https://thebittimes.com/tag/squeeze.html">squeeze</a> target is the Unifi Protocol DAO’s token, UNFI. According to <em>CoinMarketCap</em>, its 24-hour volume is just $4 million behind the $48.26 million capitalization.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="570" height="236" src="https://cdn.thebittimes.com/images/2023/12/14/08a75f0b7ec2a59d39fc4362197722bc.webp" alt class="wp-image-143066" srcset="https://cdn.thebittimes.com/images/2023/12/14/08a75f0b7ec2a59d39fc4362197722bc.webp 570w, https://cdn.thebittimes.com/images/2023/12/14/08a75f0b7ec2a59d39fc4362197722bc.webp 300w" sizes="(max-width: 570px) 100vw, 570px">
  <figcaption class="wp-element-caption">
   Unifi Protocol DAO market cap and volume (24h). Source: <em>CoinMarketCap</em>
  </figcaption>
 </figure>
 <p class="paragraph">This shows a notable trading interest rising for UNFI, still heavily weighted towards short positions. Interestingly, there were $21.84 million (53.14%) and $55.28 million (52.21%) of shorts opened in the last 12 and 24 hours, respectively.</p>
 <p class="paragraph">Notably, the shorting volume surpasses the tokens exchange volume in the day, while UNFI is up 11.55%, trading at $7.71 by press time. If the price continues in a bullish trend, short-sellers might get massively liquidated, causing a huge impact on its markets.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="87" src="https://cdn.thebittimes.com/images/2023/12/14/9bb587224bb8cd3edb3fe54d7665b6aa.webp" alt class="wp-image-143067" srcset="https://cdn.thebittimes.com/images/2023/12/14/9bb587224bb8cd3edb3fe54d7665b6aa.webp 1024w, https://cdn.thebittimes.com/images/2023/12/14/9bb587224bb8cd3edb3fe54d7665b6aa.webp 300w, https://cdn.thebittimes.com/images/2023/12/14/9bb587224bb8cd3edb3fe54d7665b6aa.webp 768w, https://cdn.thebittimes.com/images/2023/12/14/9bb587224bb8cd3edb3fe54d7665b6aa.webp 1536w, https://cdn.thebittimes.com/images/2023/12/14/9bb587224bb8cd3edb3fe54d7665b6aa.webp 1946w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   UNFI Long/Short ratio on 12 and 24 hours. Source: <em>CoinGlass</em>
  </figcaption>
 </figure>
 <p class="paragraph">Essentially, an increased demand causes a high volume of buy orders to liquidate exchange books, pumping the price and triggering derivative contracts for liquidation, driving the price even further.</p>
 <p class="paragraph">All things considered, there are no guarantees that a short squeeze will happen with these two cryptocurrencies.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/short-squeeze-alert-for-december-14-two-cryptocurrencies-with-potential-to-skyrocket-tbt73680.html">https://thebittimes.com/short-squeeze-alert-for-december-14-two-cryptocurrencies-with-potential-to-skyrocket-tbt73680.html</a></p>

Short squeeze alert for December 14: Two cryptocurrencies with potential to skyrocket

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