The remarkable rise of Celsius (CEL) post-bankruptcy is primarily due to the unexpected burning of 94% of its tokens, drastically reducing its supply. This strategic move, part of the bankruptcy proceedings, saw CEL's price jump from $0.14 to $0.98. The sudden scarcity of CEL tokens turned them into a speculative asset, attracting traders and investors aiming to capitalize on the volatility. Despite the lack of operational restart, the CEL token's behavior mimics that of meme tokens, driven by market hype and speculative trading.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
