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This PancakeSwap price prediction article is based on technical analysis. Within this article, you will see the factors and metrics that we put into consideration while writing this CAKE price analysis and prediction.

Many cryptocurrencies rose and fell in a rollercoaster ride as market volatility continues to plague the world of crypto. There were many tokens seen in various news reaching new all-time highs, and recently all-time lows as well. Because of this, many traders are confused, unsure of what to do, panic-selling, and losing money during the most recent crypto crash.

Of course, CAKE traders are not safe from the onslaught. In May, CAKE reached a new all-time high of $44.18. In the same month, CAKE dipped as low as $9.52 according to coin information websites like CoinMarketCap and CoinGecko. Will this CAKE continue to be bearish or will it recover and reach a new all-time high? These are the questions that we’ll address in this CAKE price analysis 2021 article.

 

NOTICE: In as much as Team Xycinews aims to deliver a near perfect review, we have a lot of Platforms on our Log to review & a lot already reviewed. Sadly this limits us from backdating to track the status of already reviewed platforms.

Kindly note that the platform information were correct as of time of publishing but might turn out to be SCAM without our notice.

Always check our article’s published date & the comment section below for users opinion. Thanks ♥️

 

Cake Coin Review

As appetizing as it sounds, PancakeSwap or CAKE doesn’t have anything to do with food. It’s an automated market maker and a decentralized finance (DeFi) application. The platform is a Binance Smart Chain-based Decentralized Exchange (DEX) launched by anonymous devs — that seem to like breakfast food and rabbits. 

It’s often compared to Ethereum’s Uniswap and SushiSwap because of its many similarities, but it also has many additional features that allow users to earn rewards.

What is an automated market maker (AMM)? If you haven’t encountered this term yet, here’s what it means. An AMM is different from traditional centralized exchanges. You can trade digital assets on this platform. However, there is no order book where you are matched with fellow traders. 

In an AMM, you are trading against a liquidity pool which is simply a bunch of funds thrown together in a large digital pile. It’s an essential element of Decentralized Finance (DeFi) protocols.

The liquidity pool is combined using other users’ funds. These users deposit them in the liquidity pool and they receive Liquidity Provider (LP) tokens in return. These tokens can be used to claim their share and a part of the trading fees.

CAKE is the native token of the PancakeSwap platform. It’s the BEP-20 Pancake token (CAKE). This token is one of many tokens that are used within the PancakeSwap protocol and is made available for token swaps within the exchange.

 

Cake Coin Price Prediction

Without any further ado, let’s take a look at the charts for this CAKE Price Analysis 2021 article. The first indicator that we will be analyzing in this article is called the 200-Day Simple Moving Average (SMA). This is an indicator that gives us a general analysis of whether the market is bullish or bearish.

As we can see in the chart below, there were several dips that brought CAKE below the 200-Day SMA. These small dips may be classified as bearish trends within a wider bull market. This is because the majority of the range candles are above the 200-Day SMA line. This means that the market as a whole is bullish.

Another indicator that can show if it’s bullish or bearish is the Relative Strength Index (RSI). It’s a very popular momentum indicator that shows if the market is bullish or bearish. It also shows generally good buying and selling opportunities. Let’s take a look at the chart to see if CAKE is oversold or overbought.

The last technical indicator that we will use to determine the price trajectory for this CAKE Price Prediction 2021 article is the Ichimoku Cloud. This indicator is a collection of various indicators namely the Lagging Span, Base Line, Conversion Line, Lead 1, and Lead 2. These indicators show support and resistance levels. Aside from these, it also shows momentum and trend direction by taking averages and plotting them on the chart.

 

In Summary – Is Cake Coin Legit or Scam

If CAKE makes a bullish recovery, support will be around $28, while resistance will be around $33. If a downtrend continues, support will be around $22.5, while resistance will be around $27.

Now, is it possible for CAKE to go 1 USD in 2021? Yes, anything is possible. If we are looking only at a short-term bearish trend within a wider bull market, CAKE can reach a new all-time high of around $100 dollars at the end of 2021. However, if it continues to go bearish, we may see a price drop to the $10 to $5 range.

You must always remember that this CAKE Price Prediction 2021 article is only here to help you with your purchase decision and must not be treated as financial advice. No one knows for sure how the market will perform. So, please buy at your own risk!

 

Can CAKE coin reach $100 in 2021?

Yes, there is a possibility for CAKE to reach $100. However, it depends on the market’s performance.

 

How can I get PancakeSwap tokens?

You can get CAKE by purchasing it on exchanges.

 

Where can I buy or trade CAKE?

You can purchase CAKE at PancakeSwap, Binance, KuCoin, Gate.io, Bithumb, and many other exchanges.

 

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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Since June, total assets under management across exchange-traded. And also over the counter traded digital asset investment products dropped by 14% to $34.8 billion.

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As NFTs obtain reputation regardless of an overall bearish sentiment in the crypto market. Some NFT critics inside the market took to Twitter blaming the non-crypto natives who withdrew their Ether at once after NFT sales for the uninspired price movement of the second-largest cryptocurrency by market capitalization.

However, based on multiple analysts and market contributors, the effect of NFT sales, stays a nonfactor on Ether’s prices. Instead, the complaint showcases many traders and investors’ frustrations in a slow market.

The guess“is more like a reflection of the current market sentiment,”. Daniel Lv, co-founder of China-based blockchain Nervos Network, told Muyao Shen through a representative.

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Celebrities Who Have Invested in Bitcoin

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Bitcoin, and cryptocurrency in general, is an ever-growing phenomenon in the 21st century. Since the invention of Bitcoin in 2009, Bitcoin stocks have grown rapidly. People today are becoming more and more accepting of Bitcoin, with seventeen percent of the American adult population admitting to having invested in Bitcoin, and even more admitting that they’ve invested in other cryptocurrencies. 

It isn’t just regular, everyday people who have shown an interest in Bitcoin, and crypto, though. Many major celebrities have embraced digital currency, and have made quite a pretty penny out of it. In this article, we will take a look at a few celebrities who have invested in Bitcoin and the profits they have made. 

But first, let us take a look at how Bitcoin investment works, and how you can profit off of it.  

How to Profit off of Bitcoin

The best way to profit from any form of digital currency is to make an account at one of the many crypto trading sites. These sites offer an interface that is easy to use for beginners and allow new investors to purchase or sell their digital assets. Most trading sites require little else than a password, email, and username.

One of the sites which offer these benefits is Bitcoin Power. Not only is it easy to use, but it also provides a safe and secure network, allowing you to track your earnings at any point in the day, in real-time. Also, these sites use new Artificial Intelligence technology to read and predict the volatility and fluctuation of the crypto stock market and allow you, as an investor, to make the best investments and maximize your profit.   

Now let’s take a look at a few celebrities who have embraced cryptocurrency as a viable method of profit, and how it went for them.  

Paris Hilton

Hotel heiress, actress, and social media influencer, Paris Hilton has admitted to dabbling in Bitcoin and NFTs. Last year, Ms. Hilton admitted to purchasing stocks in Bitcoin, and subsequently, she changed her social media profile images to feature laser eyes. The laser eye meme is associated with the rise of the stock of Bitcoin. 

When questioned further about bitcoin and NFT’s in the interview, Ms. Hilton claimed Bitcoin is the future, and she is very excited about the opportunities it can provide. In March of 2020, Ms. Hilton won the NFT Charity Award for her first NFT, which subsequently blew up and has been very exciting for the young heiress.  

Mike Tyson

Bitcoin has become quite a popular form of currency in the boxing world, with many professional boxers, such as Floyd Mayweather looking into, or already investing in the cryptocurrency. But, in 2016, ex-heavyweight champion, Mike Tyson, took his interest in Bitcoin a step further, with the launch of his very own digital wallet. A year prior, Mr. Tyson had sponsored a Bitcoin ATM, an ATM that allows Bitcoin investors to trade real cash into cryptocurrency. After this proved successful, the ex-heavyweight champion took it further by releasing a digital wallet.

A digital wallet, for those who may not know, is a software system that allows for the safe storage of user information regarding numerous payment methods, including Bitcoin. This move has inspired other professional boxers, such as Tyson Fury to get into the world of cryptocurrency and NFTs

50 Cent

American rapper, actor, TV, and music producer 50 Cent, real name Curtis Jackson, made the controversial decision to accept Bitcoin payments for his album “Animal Ambition” in 2014. At the time, Mr. Jackson got about 700 Bitcoin, which in 2014 was worth around $500.000. A few years later, however, in 2019, the price of Bitcoin skyrocketed, earning the rap legend an astonishing $8.000.000. 

Jackson, in an Instagram post, claimed that he is proud of himself, thought that he had forgotten all about selling his album for bitcoins. 

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