PancakeSwap Price Surges by 29% Following Milestone and Partnership
The price of PancakeSwap (CAKE) has experienced a 29% surge in the past 24 hours, reaching a peak of $1.60. Although it is currently slightly below that level, the bullish pressure could push it higher.
Previously, CAKE had been trading sideways between $1.20 and $1.25 for a week. However, several positive developments allowed the price to break through these levels and reach new resistances.
Positive Developments Drive Price Growth
CAKE first broke through the resistance at $1.35 before encountering another at $1.45. Despite a slight correction to under $1.40, the price pushed higher and reached $1.55.
Although this resistance was broken as well, the price is currently being held back by a stronger resistance at $1.60.
The trading volume for CAKE has also increased significantly, up by 933% in the past 24 hours.
What Is Fueling Interest in PancakeSwap?
PancakeSwap’s recent growth can be attributed to several significant developments for the project. The decentralized exchange on the BNB Chain recently achieved a trading milestone of $20 billion.
In addition, PancakeSwap announced a partnership with Bril Finance, aiming to bring new DeFi opportunities to its users and become a central hub for portfolio management.
Meme Kombat Presale Reaches Major Milestone
Meme Kombat, an innovative gaming platform that allows users to engage in active betting and earn passive income through staking, has raised over $1 million in its presale.
The token’s price is currently at $0.183, with a projected increase to $0.189 in less than a week. Those interested in participating can do so using ETH, BNB, or USDT.
Hot Take: PancakeSwap’s Milestone and Partnership Drive Impressive Price Surge
PancakeSwap’s recent surge in price can be attributed to its milestone achievement and partnership with Bril Finance. These positive developments have propelled CAKE to new resistances, and the increased trading volume indicates growing interest in the project. While the price is currently being held back by a strong resistance at $1.60, further growth may be expected in the near future. Additionally, Meme Kombat’s successful presale has also garnered attention in the crypto space. Overall, PancakeSwap’s recent milestones and partnerships demonstrate its potential for continued success and growth.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
