During this round of downturn, $CAKE actually rose to $2.75! My target is above $8.
When $BTC and many other altcoins pulled back, $CAKE didn’t drop significantly—instead, it climbed back to around $2.75. In the past 7 days, it’s up more than 12%. This kind of relative strength is something I won’t ignore.
I’m bullish on CAKE, not only because it has fallen, but also because there’s room for a rebound. PancakeSwap has real trading activity. In August, 2.74 million CAKE were burned. After deducting newly issued tokens, the net circulating supply decreased by about 2.07 million. It has already achieved a month-over-month net reduction for 36 consecutive months.
In this bull market, my target for CAKE is above $8. At $2.75, there’s nearly two times more upside potential to reach that goal.
When $BTC and many other altcoins pulled back, $CAKE didn’t drop significantly—instead, it climbed back to around $2.75. In the past 7 days, it’s up more than 12%. This kind of relative strength is something I won’t ignore.
I’m bullish on CAKE, not only because it has fallen, but also because there’s room for a rebound. PancakeSwap has real trading activity. In August, 2.74 million CAKE were burned. After deducting newly issued tokens, the net circulating supply decreased by about 2.07 million. It has already achieved a month-over-month net reduction for 36 consecutive months.
In this bull market, my target for CAKE is above $8. At $2.75, there’s nearly two times more upside potential to reach that goal.