PancakeSwap: Assessing what’s in store for CAKE considering these updates 

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  • CAKE becomes the most trad­ed token among the top 100 BSC whales.
  • CAKE’s price pump might con­tin­ue fur­ther as the met­rics and indi­ca­tors are positive. 

Pan­cakeSwap [CAKE] revealed new infor­ma­tion for bCAKE farm­ers on 13 Jan­u­ary. With this new update, farm­ers can now acti­vate boost­ers on two farms with an adjust­ed boost mul­ti­pli­er. To take advan­tage of the new boost, farm­ers will need to unset the cur­rent boost­er and reap­ply it. 


Read PancakeSwap’s [CAKE] Price Pre­dic­tion 2023–24


Not only that, but CAKE also remained pop­u­lar among the whales. As per a WhaleStats tweet on 13 Jan­u­ary, CAKE recent­ly flipped BTCB to become the most trad­ed token among the top 100 BSC whales. 

CAKE’s price action has been opti­mistic of late, as its price went up by 10% in the last 24 hours. CoinMarketCap’s data revealed that CAKE reg­is­tered over 17% week­ly gains, and at press time, it was val­ued at $3.87 with a mar­ket cap­i­tal­iza­tion of more than $651 million. 

Addi­tion­al­ly, CAKE made it to the list of top BNB Chain projects with the high­est bull­ish sen­ti­ments, as per a tweet on 12 January. 

What do the PancakeSwap metrics suggest?

CAKE’s on-chain met­rics pro­vid­ed a bet­ter under­stand­ing of which way the token was head­ed in the com­ing days. The token’s price ral­lied along­side its vol­ume, which legit­imized the price hike.

CAKE’s social vol­ume also spiked a few times over the last week. The dai­ly on-chain trans­ac­tion vol­ume in prof­it went up, which was a pos­i­tive sig­nal. How­ev­er, the veloc­i­ty decreased in the last few days, which might be troublesome. 

Source: San­ti­ment


How much are 1,10,100 CAKEs worth today?


The bulls are leading the market!

As per the mar­ket indi­ca­tors, the bulls were lead­ing the mar­ket. For instance, the Chaikin Mon­ey Flow (CMF) and the On Bal­ance Vol­ume (OBV) were both rel­a­tive­ly up. The MACD also revealed a bull­ish upper hand in the market.

CAKE’s price was enter­ing a high volatil­i­ty zone as indi­cat­ed by the Bollinger Band, fur­ther increas­ing the chances of a north­bound move­ment. The only con­cern­ing indi­ca­tor was the Mon­ey Flow Index (MFI), which had entered the over­bought zone. 

Source: Trad­ingView



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