ðĨ CAKE Ignoring The Sell-Off: Buy Opportunity
CAKE is one of the coins which is seeing an amazing influx of new buyers after the big BTC drop of today.
One reason for that could be the fact that CAKE is currently seeing a very strong uptrend, potentially going parabolic in the near future once it creates a new ATH.
Another reason could be that with BTC showing signs of uncertainty, people are flocking towards coins which are either non-correlated to BTC or ones that have a very bright future ahead of them. CAKE is both. Since it's the main coin of the PancakeSwap DEX, you could compare it with an early version of BNB. To trade on the PancakeSwap exchange you will most likely touch CAKE. Also, the current staking rewards are still around 100% APR.
All in all, I think that CAKE is one of the best long-term holds of this year.
Happy trading!
One reason for that could be the fact that CAKE is currently seeing a very strong uptrend, potentially going parabolic in the near future once it creates a new ATH.
Another reason could be that with BTC showing signs of uncertainty, people are flocking towards coins which are either non-correlated to BTC or ones that have a very bright future ahead of them. CAKE is both. Since it's the main coin of the PancakeSwap DEX, you could compare it with an early version of BNB. To trade on the PancakeSwap exchange you will most likely touch CAKE. Also, the current staking rewards are still around 100% APR.
All in all, I think that CAKE is one of the best long-term holds of this year.
Happy trading!
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