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DeXe (DEXE) Jumps 70% in 24 Hours as Short Squeeze Hits Record Open Interest
DeXe (DEXE) surged about 70% in 24 hours on Tuesday, hitting a fresh yearly high near $24 as a short squeeze forced bearish traders to cover. According to BeInCrypto, derivatives data suggest the move was driven by leverage rather than fresh spot demand, with open interest rising to roughly $70 million, a record.
Coinglass data showed a short-liquidation cascade of about $1.3 million, the largest on the chart. BeInCrypto said weekly volume is falling and RSI shows bearish divergence, while a cup-and-handle setup implies a potential target near $30 if DEXE breaks and closes above $24.20.
Coinglass data showed a short-liquidation cascade of about $1.3 million, the largest on the chart. BeInCrypto said weekly volume is falling and RSI shows bearish divergence, while a cup-and-handle setup implies a potential target near $30 if DEXE breaks and closes above $24.20.
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