טעק

פּאַנקאַקעסוואַפּ זעט וואַלפיש אינטערעס, אָבער די פּרייַז פּאָמפּע זאָל נישט נאַרן ינוועסטערז

01/25/2023
ביטקאָין עטהערעום נייַעס
  • 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. 

Not only that, but CAKE was also one of the top choices of the whales. WhaleStats, a popular Twitter handle that posts updates regarding whale activity, pointed out that שטיקל was on the list of the tokens that the top 100 BSC whales were holding. This was good news, as it proved whales’ confidence in CAKE. 

רעאַליסטיש אָדער נישט, דאָ ס CAKE market cap in BTC’s terms

The CAKE is baking, but this is the catch!

While CAKE garnered whales’ interest, its performance on the price front was optimistic too, as it registered double digit weekly gains. CoinMarketCap’s דאַטע 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.

בילד

Though the price action was in the investors’ favor, CryptoQuant’s דאַטע revealed that CAKE’s Relative Strength Index (RSI) was in an overbought position.

דערצו, בשעת שטיקל’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. Daily active addresses registered a decline, suggesting a lower number of users in the network.

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 רעשימע of the top 10 BNB Chain projects by social activity. 

מקור: סאַנטימענט

לייענען PancakeSwap ס [CAKE] פּרייס פאָרויסזאָגן 2023-24

וואָרענען איז אַדווייזד 

שטיקל’s daily chart showed that there were possibilities of a continued surge, but things might as well choose to follow the opposite trend. For example, the MACD’s readings were bullish, as was the Exponential Moving Average (EMA) Ribbon, which displayed a bullish crossover.

However, the Money Flow Index (MFI) entered the overbought zone, which could indicate selling pressure in the coming days.

מקור: טראַדינגוויעוו

Source: https://ambcrypto.com/pancakeswap-sees-whale-interest-but-the-price-pump-should-not-fool-investors/