New PancakeSwap proposal set to limit CAKE supply to 750 million

PancakeSwap, a decentralized financial (DeFi) app built on Binance Smart Chain that is known for its automated market maker service and distinctive branding, has published a governance plan for the second iteration of its tokenomics road map. Since its inception, the PancakeSwap team's snap decision has received over 11 million CAKE votes, with most participants.

Timeline of Pancakeswap

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice The previous day's drama notwithstanding, PancakeSwap's token CAKE did have a bullish outlook in late March. The rejection at the $11 area left a sour taste in the mouths of long-term investors of CAKE.

XRP appeared to form a low timeframe range, while STEPN saw a strong bounce from an area of demand. However, the next day or two can be crucial for the crypto market as Bitcoin appeared to stand at a crucial juncture.

CAKE price continues to trade sideways for the past three-session following a dull start to a fresh trading week. The price hovers near the multi-week support area at around $7.50.

Since breaking out from a long-term descending resistance line, PancakeSwap (CAKE) has shown several bullish signs and is attempting to create a higher low. The post PancakeSwap (CAKE) Breaks Out From 309-Day Resistance Line appeared first on BeInCrypto.

The Pancake(CAKE) price resonates within $10 and $7.5 barriers for over a month now, creating a narrow range. However, the consolidation reflected a bearish set-up with double top pattern formation.