During the last 30 days, the Celsius Network’s native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed for bankruptcy protection, the native crypto asset dropped 58% to a low of $0.40 on the same day. CEL has managed to climb back from the drop as the digital currency is currently swapping for prices between $0.69 to $0.73 per coin on July 14. So-Called CEL Short Squeeze Attempt Slips, Token Drops 58% After Bankruptcy News Following the company pausing withdrawals and other operations on the lending platform, traders on social media started a trend to get people to “short squeeze” the crypto asset CEL. Social media posts on Twitter , Reddit , and Facebook claim that Celsius Network’s native token CEL is being short-squeezed by members of the Celsius community. Some people promoting the trend explain
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