PancakeSwap is a DeFi exchange (decentralized exchange) running on the $BNB blockchain (Binance Smart Chain)
🧱 Fundamentally:
PancakeSwap is also being developed by the largest crypto exchange Binance. PancakeSwap is consistently among the top 5 exchangers in terms of the number of active users. The native token of the exchanger is the CAKE coin. It is necessary to receive additional discounts on commissions and to maintain the operation of the project through staking. The Binance exchange makes a big contribution to the marketing of the project, which showed an updated “road map” for 2024.
🛠 What about technical analysis?
The CAKE coin was listed on major exchanges only at the end of the 2021 bull market. Therefore, the graph looks disgusting... BUT! In October, the coin increased by 120% on huge volumes. Since before this the coin was at the bottom, it is logical to assume that this volume went into purchases. On the daily time frame, the price unloaded the RSI indicator to 60. On the weekly frame, the coin is also in the comfortable zone of 60, so in the medium and long term the coin has great potential for growth.
🧰 Buying CAKE for your investment portfolio.
🔎 Ticker: $CAKE
✳️ Entry price: $2.8
🛡 Stop loss: I recommend taking a trade for investment without a stop.
💼 Volume per transaction: up to 2% of the crypto portfolio.
🎯 Goals: $5.2; $9.5; $16.4.
📈 Rocket growth potential: up to 570% by the end of 2024.
A medium-term portfolio will outperform any trading strategy in terms of profitability, so I carefully assemble my portfolio. In it I bet on crypto, raw materials and metals. There are a bunch of new ideas with great potential ahead, subscribe 🚀
