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.
— 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, …