Get ready for a mouth-watering 🍰 ride as PancakeSwap [CAKE] has been dishing out a scrumptious 53% surge in the market! 📈💰
- Bullish market vibes and on-chain data have “CAKE” lovers drooling, but a little price correction before the next sugar rush is quite possible.
PancakeSwap’s yummy “CAKE” has been cooking up a storm in the past 24 hours, soaring 53% high and bringing its weekly gains to over 100%! 🎊🥳 This tasty movement follows a slight dip in the chart over the past month.
AMBCrypto’s analysis hints at further price growth, with key metrics like Total Value Locked (TVL) and fees generated on its protocol showing positive momentum. 📈📊
However, a little price cool-down might be on the menu before the next rally!
A short break before the next “CAKE” serving
“CAKE” is the tasty token for PancakeSwap’s decentralized exchange, with a well-known sweet tooth for the BSC chain. 🍰😋
“CAKE” experienced a delightful price surge, breaking major resistance levels at 2.414 and 2.816, as shown by the Fibonacci Retracement Line. 📈💸
But, it couldn’t quite crack the 3.217 resistance zone and is now having a little price dip. 😞
The Relative Strength Index (RSI) sailed into the overbought region. With a current RSI reading of 75.24, the price seems a bit overvalued and might need a little correction. 😕
Using the Fibonacci line, the potential price drop could bring the tasty “CAKE” back to 2.816 or even lower to 2.414. 🍰🍰
These levels might now act as support, adding momentum for a price rebound from its current level. 📈
“CAKE”-maniacs still craving more!
A peek at the TVL, which measures the amount of assets staked in a protocol, shows a noticeable increase in PancakeSwap. 📈
In the past 24 hours, the TVL has surged by 15.91% and is now trading at $1.857 billion, establishing a new high for February. 🤑
At this rate, the TVL could extend beyond $2.003 billion, the highest point of the year. 💥
Adding to the sweet sentiment, the rise in fees generated on PancakeSwap is like the cherry on top! 🍒
In the past week, it generated $50.04 million in fees, with an additional $8.43 million in the last 24 hours, according to DeFiLlama. 💸
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2025-02-13 11:54