Short squeeze alert for December 21: Two cryptocurrencies with potential to skyrocket
Crypto derivatives volume surged, leaving some unbalances behind, which could trigger liquidation events. On that, some crypto currencies have seen increased short positions that, if liquidated, would cause a short squeeze . In the meantime, the cryptocurrency market’s total capitalization has reached a 10-day high of $1.614 trillion, up 1.5% on the day. If the crypto total market cap breaks this month’s highs, high-shorted coins will likely experience short squeezes. CRYPTOCAP: Total market cap (4h chart). Source: TradingView Finbold then retrieved open interest data in the last 12 and 24 hours from CoinGlass’s long/short ratio dashboard. In particular, we spotted Dogecoin (DOGE) and dYdX (DYDX) as two crypto currencies with increased short over the long positions. Short squeeze alert for Dogecoin (DOGE) As for DOGE, the leading memecoin is trading at $0.0926 by press time, up 2.2% in the last 24 hours. Notably, Dogecoin has $514.56 million in the 24-hour opened short positions...