The Celsius (CEL) community has rallied on Twitter once again to fight off short positions against their favored crypto token despite multiple challenges faced by the exchange, including bankruptcy and rumors of the company\u2019s CEO fleeing from the United States.<\/p>\n
Thousands of tweets with the #CelShortSqueeze tag have been posted on the social media platform, advertising their long positions on CEL while encouraging others to do the same and post more content about the short squeeze. According to Twitter user Anakinsdad, the community is \u201cat war with the shorts.\u201d Another user posted:<\/p>\n
Short-selling is a strategy that lets investors earn from the decline of a token or a share. It involves borrowing shares and immediately selling to purchase at a lower price later. On the other hand, a short squeeze happens when opposing investors start to mass purchase a shorted asset, and instead of the prices falling, it pumps up, leading to losses for short sellers. <\/p>\n
This is not the first time that the Celsius community made an effort to perform a short squeeze on CEL. Back in June, community members who refer to themselves as \u201cCelsians\u201d brewed an unofficial recovery plan to force CEL short-sellers to take out their positions by driving the token’s price upwards.<\/p>\n