Dogecoin (DOGE) Shorts Hit ATH, Is a Short Squeeze Incoming?

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Dogecoin (DOGE) Shorts Hit ATH, Is a Short Squeeze Incoming?

Coingape9 days ago
Published on November 25, 2021 09:50 GMT+00:00edited on November 27, 2021 08:29 GMT+00:00

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Dogecoin (DOGE), the meme currency has been in a price slumber for years now with no signs of revival. Now with the number of margined DOGE short positions hitting a new all-time-high on Bitfinex, the DOGE community are hopeful about a possible short squeeze.

#Dogecoin shorts are at an all time high….. squeeze those mfs! 🐕 pic.twitter.com/b2xqSBkNKY

— Sir Doge of the Coin (@dogeofficialceo) November 25, 2021

The short squeeze trend gained momentum at the start of the year when a Reddit group initiated a short squeeze for heavily shorted stocks namely GameStop (GME) and AMC. A short squeeze usually occurs when people start buying heavily shorted stocks, which eventually pushes the price up liquidating the short positions. When the GameStop saga began in February involving Robinhood, …