MEXCSilver [$SLV] Big Short Squeeze Begins, Wallstreetbets Targets Silver Price of $1000
The wallstreetbets group is taking up on Silver [$SLV] as their next short squeeze target and $SLV price is already started rising breaking $26.5 at the time of reporting. It is to be noted that JP Morgan is among the largest silver short position holders and they may well be next Melvin Group.
Big Short Squeeze, Wallstreetbets targeting $SLV price of $1000
Silver price already is looking good on hourly candle as $SLV price soared to $26.7 at the time of reporting. As reported by Coingape, wallstreetbets group is eyeing $SLV price at $1000 and calling it biggest short squeeze in the world.
JP Morgan is clearly the next target of the group after Melvin capital suffered a huge setback recently with GME stock. JP Morgan reportedly holds largest short position in Silver and clearly the short squeeze will affect them severely.
As per the latest reports, Robinhood has already delisted GME amid the high surge in prices while $AMC and $GME are reportedly halted multiple times now.
$AMC and $GME both halted for 2nd time lol pic.twitter.com/90173yYksF
— CryptOrca (@CryptOrca) January 28, 2021
Clearly, in the war against wall street centralized applications like robinhood are favoring large wall street players, it will be interesting to see how exchanges will deal in case of Silver short squeeze.
- Breaking: XRP Treasury Evernorth Debuts on Nasdaq Under XRPN Ticker After $1B Token Purchase
- BlockDAG Listing Rumors on Coinbase and Kraken Fuel Hype; But Analysts Urge Caution
- Toobit Introduces Multi-Million Dollar Shield Fund to Protect Traders Against Platform Incidents
- $1.7 Trillion T. Rowe Price Files for First U.S. Spot Shiba Inu ETF, Boosting SHIB’s Adoption
- XRP News: Key Ripple Whale Indicator Turns Bullish After 4 Months, Price Rally Ahead?
- Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
- Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
- Expert Predicts XRP Price to Hit $10 as Elliot Wave, XRPR ETF Inflows Align
- HYPE Price Prediction as 21Shares Files S-1 for Hyperliquid ETF—Can Bulls Push HYPE to $60?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
