CAKE Price Analysis March 2022

CAKE is a token of platform PancakeSwap. Its current price is around $6.66 by writing, with a low of $5.62 in 2021 and a market cap of 1.8 billion dollars.

What is PancakeSwap?

PancakeSwap is built on top of the Binance platform, allowing users to exchange crypto-based assets quickly. PancakeSwap is a decentralized platform that has the most users of any provider. It was founded in September 2020, with 3.4 million users in the last 30 days.

The PancakeSwap crypto platform is a decentralised, peer-to-peer trading platform that allows users to swap their cryptocurrencies for other coins. In addition, PancakeSwap has a praise system that allows people to participate in liquidity pools by various methods. As a result, users can easily swap any crypto for another and earn passive income.

What is CAKE?

CAKE is the coin of the PancakeSwap platform, which is around $6.66 by the time of writing, with a low of $5.62 in 2021. Its current ranking is #54 according to CoinMarketCap, with a market cap of 1.8 billion dollars.

CAKE reached a high of $44.18, with a low of $5.62.CAKE is the native coin of PancakeSwap, and some investors have expressed that they believe CAKE crypto could be a good investment.

CAKE Coin Market Analysis 

CAKE has a total supply of 272,977,342 coins worth around $6.66 with a market volume of 125 million dollars, whereas the market capitalisation is 1.8 billion dollars at writing. 

CAKE Price Prediction

On the 1D timeframe, $CAKE/USDT is currently trading in a downtrend after its price reached an all-time high. It is now forming a Bullish Harmonic Crab Pattern can be seen on 4hour time frame price action, whereas it broke down the Strong support zone level.

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Cake Price Analysis March 2022
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Pratyaksh