PancakeSwap remained popular among the whales. However, the metrics and market indicators gave an ambiguous picture. PancakeSwap [CAKE] has remained pretty consistent with its burn process, which reflected the token’s deflationary characteristic. The network recently revealed that it burned CAKE worth over $27 million. 🔥 6,992,717 $CAKE just burned – that’s $27M! 💰 Trading fees […]
While CAKE garnered whales’ interest, its performance on the price front was optimistic too, as it registered double digit weekly gains. CoinMarketCap’s
revealed that CAKE’s price increased by over 7% in the last 24 hours, and at the time of writing, it was trading at $4.15 with a market capitalization of more than $683 million.revealed that CAKE’s Relative Strength Index was in an overbought position.’s price increased, its volume increased simultaneously, which legitimized the surge. However, the MVRV ratio increased substantially over the last few days, pointing out a market top.
Positive sentiments around CAKE also went down, reflecting less faith of the investors in CAKE. Interestingly, though the positive sentiments declined, CAKE made it to the
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