Never judge a token by it's name, Dev aren't your friend

[Olayinka2225]

I also heard of Cake and bought in around the same time. I thought the name sounded unprofessional too just like other food themed AMM/Yield Farm on Ethereum.

When it comes to name, there are some tokens that you really have to ignore just by its name because it's obvious that they are riding on the popularity of other projects. Back in 2017, you could see tokens like ethereum green/gold/platinum. There are many more examples but you should get what I mean.

by the way, how are dev's not your friend?

What I meant by that is that, have invested in a certain coin of which the coin did x5, so many of my pals didn't cash out their capital all because of the sweet words of the Dev that x5 is just the tips of an ice barge. Eventually, the coin rugged. Loss on investment for them

[danherbias07]

Base on experience, I saw different awful names before that made a good value in the long run. I agree it's not about the name but mostly about the team behind it and the project itself. Cake though as a name is not that bad. There are some notable worse names in the cryptocurrency industry. 
You still did great despite the regret for not maximizing the sell point. You would never expect it could go way up to $40 and $7 profit a piece is still a lot especially if the amount you bought is high. I could sleep with that.

[tisoysoy]

You should not just base on the token's name when you invest. For me, the more it sounds weird, the more I get interest in that coin. However, you should always read their whitepaper and do further research for that coin

[criket]

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

You don't have the patience to hold coins so you always meet with a regret that you didn't expect at all,
so there's no need to tell it at length because it will only be a good lesson and experience for yourself.

I guess it won't just be a lesson to the OP. There are many people on this forum who I believe have had a similar investment experience.

what I see, the OP invests without planning and strong analysis. missed to determine the purchase price, as well as the selling price. The OP can improve his market analysis skills with this experience.

[irsada]

Come on dude, we didn't know that pancakes would be this big, if I had known I might have invested all my funds in it, try to move on because the opportunity will be there for people who keep trying.

[wajik-tempe]

You should not just base on the token's name when you invest. For me, the more it sounds weird, the more I get interest in that coin. However, you should always read their whitepaper and do further research for that coin

I Agree but sometimes if the name is "too much" as an investors, we sometimes have a doubt that the project is a real and serious project or not.
For example a token named $SHIT or someting like $SEX, we know we can't judge by the name, but i think the owner of the token knows that the name of the token will have an impact for the investors because that is the first impression that the investors got before they dive inside to the project details.

[Jercyhora2]

I admit that this is how I used to view other altcoins when I was just starting to study crypto. I saw that CAKE back then when the price was very low but I didn't pay attention because it didn't seem serious. I immediately called it "Not serious" when I first saw the name without a glimpse of its whitepaper. I thought it was just one of the shitcoins that were popping up back then. And yes right, Let’s not judge coins by name only, let’s better look at its important details of it.

[coin-investor]

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

That's investing blindly with looking only at a coin's name as a parameter to invest in a Cryptocurrency not all that sounds like Bitocin are worth investing in the past there are so many coins named after Bitcoin but ended up as pump and dump coin, do your own research and check what the coins are bringing to the table even if the name sounds scammy.

[alisonwonder]

True, name dont have impact. Name can help to project only if it is some kind specific and easy to remember before it become popular thanking to project quality and team work on marketing.

The name is only for a sign and also only for a basic assessment, while the quality and performance of the team is the main thing that must always be seen after a name, because a name and logo are only a sign which has absolutely no effect on its performance.

[geegaw]

True, name dont have impact. Name can help to project only if it is some kind specific and easy to remember before it become popular thanking to project quality and team work on marketing.

The name is only for a sign and also only for a basic assessment, while the quality and performance of the team is the main thing that must always be seen after a name, because a name and logo are only a sign which has absolutely no effect on its performance.

Yes, the name is for people to call and know the presence of a project, a prominent name can sometimes also make us think that this is a subsidiary of previous projects or it's a project based on a social reality platform but whether left or right, this abstraction and fantasy does not increase the consensus from the brain about evaluation. The brain needs to assemble many different parts to evaluate, similar to judging the status of a friend, we only add them to the friends list when we have had a long enough conversation and know their personalities, projects with a special name also won't be able to change this basic route

[ali1177]

Agree with you name doesn't mean that project will work or will not work we should understand the project not just the name we have to gather information about the project it doesn't matter what name will be.

[Cling18]

It isn't just about a coin's name but its potential, activeness, and the team and developers behind it. It's normal to sell at a lower price because most of us have experienced the same thing but any amount of profit is still a profit that we should still be grateful for. The capability of a coin to boom and reach a good price couldn't be based only on its name but its purpose.

[7788bitcoin]

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

If you knew the technical aspects of what they are planning to do, then you would not hesitate to invest. Pancakeswap is created as a DEX for BEP 20 tokens while Uniswap is created for ERC 20 tokens and once the transaction fees for ERC 20 tokens started to rise, you should expect more projects to use BEP 20 and thereby it will boost Cake and that is what happened. You should have held on to the coins much longer and i see them easily crossing $50 by the end of this year.

[Rana590]

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

Don't be upset in crypto world. We don't know what will happen in future. If we knew that we would buy huge amount of coin which are leading the market. But holding for long time is profitable in most of the time. It is correct that we shouldn't judge a coin or token by it's name.

[bamb]

It seem to me that most project with substance are more focus on functions, utilities and adoption!  Name of a coin could have  direct or indirect  interpretation to what it's aim at!  So, you have to read in between the line to get the message and understanding of funny coin name!

[Oluwabunmi21]

Yes it is true, one can not tell the gravity or measure of a coin, for the fact that  it is small doesn't mean it's useless, there can be more benefits one can derived in it. At a point, there may be market for the coin.

[Orange89]

Yes if are judging any token/coin by their name then you may be missed some gem as you mention you Cake but if you stay updated with the team then you may know team already had big partners like binance when cake price is around 6$-7$ if project had such big partners my first impression will be Hold and still i am holding 23 Cakes and i will not sell it because Pancakeswap had growing fast and people prefer pancakeswap nowdays compare to other platform these trust of the community to use also make their token price growing rapidly

[CaVO32]

Yes if are judging any token/coin by their name then you may be missed some gem as you mention you Cake but if you stay updated with the team then you may know team already had big partners like binance when cake price is around 6$-7$ if project had such big partners my first impression will be Hold and still i am holding 23 Cakes and i will not sell it because Pancakeswap had growing fast and people prefer pancakeswap nowdays compare to other platform these trust of the community to use also make their token price growing rapidly

Definitely, Cake is worth to hold based from what it is doing right now. Pancakeswap is like the go to of traders when it comes to BSC tokens, and since BSC network is getting popular these days, they really do have the chance to further increase its value in the coming months. But we are still a lil bit half way from their ATH of about $43, so if their popularity keeps on increasing, their ATH can be achieved again.

[Ziskinberg]

The name Cake and Pancake seem unrealistic at first, I think it was a joke and scam but surprisingly, it becomes hot in the market and was able to stay valuable until this time. I admit I was wrong and so many people are able to miss this opportunity thinking it has no value.

But for you OP, it was not the wrong move do, you just in wrong timing but at least you have been rewarded with the trust that you have given to this project. That actually happens in the crypto, you can't be all in perfect since we never know what happens next.

[Dewi Aries]

I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall

I never think that far, about name i think no matter what the name is, as long dev not leave the project it is already good point. About name, as long it is not same with others , i mean really have exact name with coin that already success, usually not suspicious for me.