CAKE review dated 14.05.2022

14.05.2022

180

1 min

While bitcoin is trying to get out of the pit, other coins, such as CAKE, may be worth considering. The other day, the coin’s community voted to limit the issuance of the token to 750 million CAKE. The proposal was approved by the project team. Previously, the issue of CAKE was unlimited. In this, the coin had almost no reaction to such fundamental news. This may be due to the fact that the market has been closely watching the development of the situation with LUNA and UST in recent days.

According to the chart, in mid-March CAKE came out of the downward movement, in which the cryptocurrency has been since August 2021. After that, the CAKE rate was probably pressured by the bitcoin collapse to $26 700.

The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.