- CAKE announced a special lottery campaign.
- Burnt CAKEs worth $100 million.
- Price went up by more than 12% in the 7 days.
PancakeSwap unveiled a special lottery campaign to celebrate the Year of the Rabbit. The Lunar New Year lottery jackpot offers the chance to win up to 226,530 CAKE, amounting to $96,000. Participants can start purchasing tickets from Jan 27. The results will be announced on Jan 28. Amusingly, PancakeSwap will add 0.1 CAKE to the jackpot for each retweet and like of the campaign tweet.
Furthermore, PancakeSwap continues to light CAKEs on fire in order to fight inflation. The token’s value has increased by nearly a quarter in 2023. With its recent weekly burn, it has officially discarded more than $100 million worth of CAKE tokens from circulation in 2023.
6,992,717 $ CAKE ទើបតែឆេះ - ៣៦ លានដុល្លារ!
Trading fees (Swap and Perpetual): 212k CAKE ($816k) +68%
Prediction: 61k CAKE ($236k) -14%
Lottery: 36k CAKE ($138k) +36%
NFT Market, Profile & Factory: 1,134 CAKE ($4k) +10%
IFO: 3k CAKE ($11k) pic.twitter.com/2xEiNFPIv0
- PancakeSwap
#Multichain (@PancakeSwap) ខែមករា 23, 2023
Cakes on sale
CAKE price is riding bullish momentum. The volume has also transformed from sellers’ to buyers’. The EMAs have formed a bullish crossover (green circle), while all are claimed in the rally. The OBV marks an uptick, reflecting positive pressure in the market. The current price of $4.15 is predicted to face the sellers resistance near $4.60.
The CMF moves sideways in the positive region to set an optimistic outlook in the market. The MACD records ascending buyer bars while the lines diverge in the zone above the zero-histogram mark, showing bullish signals. The RSI attempts to pierce through the 70-range and enter the overbought zone.
A closer look at the chart
The 4-hour time frame shows prices to face an uneven rise. The CMF slopes down trying to reach near the baseline to mirror the price movement. The MACD records tall standing buyer bars, but also the sellers’ interest sees improvement. The RSI hangs in the overbought zone, hinting at the possibility of a price reversal.
សន្និដ្ឋាន
The analysis suggests that CAKE prices may retrace temporarily, after facing resistance near $4.60. Holders can buy the dip, relying on the support zone of $3.50. CAKE is ready to propel in the bigger frame due to the token burning.
កំរិតបច្ចេកទេស
កំរិតគាំទ្រ៖ ១.៥០ ដុល្លារនិង ១,៤០ ដុល្លារ
កម្រិត Resistance: ២,០០ ដុល្លារនិង ២.៥០ ដុល្លារ
ការមិនទទួលខុសត្រូវ
ទស្សនៈ និងគំនិតដែលសរសេរដោយអ្នកនិពន្ធ ឬមនុស្សណាម្នាក់ដែលមានឈ្មោះក្នុងអត្ថបទនេះគឺសម្រាប់គោលបំណងផ្តល់ព័ត៌មានតែប៉ុណ្ណោះ ហើយពួកគេមិនបង្កើតហិរញ្ញវត្ថុ ការវិនិយោគ ឬដំបូន្មានផ្សេងទៀតទេ។ ការវិនិយោគលើ ឬជួញដូរទ្រព្យសកម្មគ្រីបតូមកជាមួយហានិភ័យនៃការបាត់បង់ហិរញ្ញវត្ថុ។
Source: https://www.thecoinrepublic.com/2023/01/24/cake-is-ready-to-celebrate-the-lunar-new-year-a-slice-for-all/