For Speculators, Pancake Swap (CAKE) Has Become a Healthy Delicacy

[Lee Dynamo]

• Pancake swap overcomes important resistance area.
• The next resistance is at the $5.0 mark.
  

Pancake swaps (CAKE) were bullish when bitcoin faced resistance in early February. The crypto market appears stable after a recovery and buyers are getting motivated for the latest investments in the market while CAKE token revealed a break above the December bullish hurdle.

Three consecutive bullish candles show strong empowerment of market bulls and another bullish open above $4.1 area will give fuel to hit the next wall near $5.0. For the time being, traders should try to hold CAKE coin for the next rally, but this will again include retracement steps.

https://www.tradingview.com/x/dWA2cXCe/

The CAKE token is influencing Bitcoin as the correlation remains around the 0.81 level. A further increase in BTC price will push PancakeSwap price towards $5.0. But a minor retracement could happen at $4.5 as there was a sharp sell-off at this level in early November.

Amidst the bullish momentum, buyers followed up with buying on the decline as suggested by previous price action. Thus this can be a favorable opportunity for the bulls. Specifically, the recent top at $4.321 could act as an immediate resistance until it breaks.

The trading volume is also sufficient to maintain a sustainable move in the market. Impossibly high growth requires more purchasing power, so more accumulation will open the door for retail investors in the market.

Final Thoughts

As long as pancake swaps (CAKE) price sustains above the $4.0 area, the upside potential will increase. And this accumulation may achieve the $5.0 resistance by the end of this month.

[mk4]

PancakeSwap has indeed a huge monopoly over the BNB ecosystem, but people always oversee the fact that they're spending so much to fund liquidity.

As per CoinGecko,

Circulating supply: 165,132,993
Max supply: 750,000,000

Summary: they're diluting so much of the token supply just to be able to pay LPs. This is precisely why most DEXs has a sort of death spiral chart.

[hugeblack]

Pancake Swap (CAKE) is a utility currency which mean that coin provide service which is witnessing a demand, this will be reflected in more demand and thus more rise, this is something that did not happen in the short term and will not happen except with technical progress or the failure of competing projects.

Thus, making economic estimates based on the price of Bitcoin, which is also another variable, meaning relying on a variable that is in itself a variable that makes it closer to adventure.

So without technical development, or the collapse of competitors, the demand for de-centralized platforms increases, do not expect much.

[logfiles]

Do this pump and dump coins also need any sort of technical Analysis?
I think it's a waste of time. Just Analyse Bitcoin, Ethereum and the rest of the market will follow in most cases. I have been in the crypto market for close to 5 years, and it's fair to say that tokens that ride on the hype usually don't last that long on top. All the predicted new all time highs may never happen in the next bull run. The death will happen overtime, but it's inevitable.

[o48o]

I can't help of thinking that fundamentals of CAKE are tainted for it to grow big. With 300 scams per day pancakeswap has managed to create sort of reputation of a factory producing worthless idos. It's a place for cheap scammers. And eth transactions are going to be cheap soon. Then i don't really understand what's the point of CAKE/Pancakeswap anymore. Sure they can create attracting tokenomics on top of it but that's really a duct tape solution for irrelevant tech.

[SUPERSAIAN]

Pancake swap platform, many things that are used very frequently every day in the bsc ecosystem. It was smashed at $40 in price, this is one of the last I remember. On the second happening, if it is stuck between 3-4 dollars, 5 dollars will be a sharp intersection in my opinion. But I think the main event ends with BNB, Cake price is also shaped according to BNB. This was the case in the previous rise, and now they are following very closely.

[Blitzboy]

It's fantastic to see that you've been following PancakeSwap (CAKE) and its recent performance. To address your question, it's usually a good idea to do some technical analysis, particularly for short-term investments like pump and dump coins.

However, I see your point of view when you claim that examining Bitcoin and Ethereum might provide insight into the entire market trend. In most circumstances, smaller tokens prefer to follow the larger ones' lead.

I have to agree with you that hyped-up currencies seldom have a long-term future. That is why it is always crucial to do your own research rather than just following the buzz. Because the cryptocurrency market may be volatile and unexpected, you need be sure you're making educated selections.

Having said that, several of these currencies may still bring rapid returns in the near run. However, in order to genuinely gain from the crypto market, a long-term plan is typically more beneficial.

Overall, I believe it is always prudent to approach the market with care and to avoid getting too caught up in the frenzy. Because the cryptocurrency market is still new and has a lot of space for development, it's vital to be patient and avoid getting too caught up in short-term swings.

[BitcoinPanther]

I can't help of thinking that fundamentals of CAKE are tainted for it to grow big. With 300 scams per day pancakeswap has managed to create sort of reputation of a factory producing worthless idos. It's a place for cheap scammers. And eth transactions are going to be cheap soon. Then i don't really understand what's the point of CAKE/Pancakeswap anymore. Sure they can create attracting tokenomics on top of it but that's really a duct tape solution for irrelevant tech.

Even though ETH is getting cheaper, Pancake swap specializes on BNB BEP20 swaps. So I do not think that ETH would have an effect on CAKE since they already had established their market platform. Uniswap is  a platform that do ERC 20 swaps so I believe you have mistaken it for BEP20 Defi.

Scammers is everywhere, even those project that uses other platform as their IDO also scam people of the their funds.  Take not, Pancake Swap in not the one creating these scam token, and anyone is free to list their newly created token to the platform since there is no need for human verification in order to be listed in a Defi platform.

[cryptoaddictchie]

Cause its the number one dex for bsc ecosystem. It is same like uniswap, this project wouldnt die easily as long as there are lots of projects that are using bsc ecosystem. Well that pretty concludes that if bnb is mooning then pancake swap will eventually follow as well. Plus they are earning from trading fees on their dex surely they will always caught up. It will only depend on bsc network of CZ.

[o48o]

I can't help of thinking that fundamentals of CAKE are tainted for it to grow big. With 300 scams per day pancakeswap has managed to create sort of reputation of a factory producing worthless idos. It's a place for cheap scammers. And eth transactions are going to be cheap soon. Then i don't really understand what's the point of CAKE/Pancakeswap anymore. Sure they can create attracting tokenomics on top of it but that's really a duct tape solution for irrelevant tech.

Even though ETH is getting cheaper, Pancake swap specializes on BNB BEP20 swaps. So I do not think that ETH would have an effect on CAKE since they already had established their market platform. Uniswap is  a platform that do ERC 20 swaps so I believe you have mistaken it for BEP20 Defi.

Scammers is everywhere, even those project that uses other platform as their IDO also scam people of the their funds.  Take not, Pancake Swap in not the one creating these scam token, and anyone is free to list their newly created token to the platform since there is no need for human verification in order to be listed in a Defi platform.

I agree but i didn't explain myself as well as i should have. I meant that i see whole BNB ecosystem irrelevant in the future. Right now people are only using it because it's cheap. That's the main selling point and why it's popular. But BNB is like a lego version of a real thing and with 21 validators it's centralized as a chain can be. Sure, cheap scammers just move to ETH when ever it's going to be cheaper to use but i seriously don't see any other point BNB to exist then having Binance to burn it and binance requiring listed new altcoins to lock bnb, which makes the bnb valuable.

[electronicash]

Do this pump and dump coins also need any sort of technical Analysis?
I think it's a waste of time. Just Analyse Bitcoin, Ethereum and the rest of the market will follow in most cases. I have been in the crypto market for close to 5 years, and it's fair to say that tokens that ride on the hype usually don't last that long on top. All the predicted new all time highs may never happen in the next bull run. The death will happen overtime, but it's inevitable.

just for the lulz yes. anyway, altcoins go up every bull run. there is nothing to fear whenever this happens and three is no need for technical analysis really. everyone is already hyped that the bull market is here and FOMO sets in. CAKE will always give a high profit for its investor. for me, the pancake is like the alternative to Binance which i don't also have to submit kyc.