PancakeSwap price has started giving back the gains made since January 1, when it hit a low of $3.15. At the time of writing CAKE is trading at $3.72, down a little less than 3% in 24 hours. With this price analysis, investors will figure out whether they should buy the dip or wait for the PancakeSwap price to end the pullback.
Evaluation of long-term profitability of PancakeSwap price with these updates
PancakeSwap on Monday launched a 120-day ESPL Syrup Pool for its community. The development was led by “strategic partners and investors including Genting Ventures, Warner Music, Infinity Ventures Crypto and Arcanum Capital.”
As per the announcement made by the team via Twitter, ESPL Arena is a global esports tournament platform with over 280k active competitors. ESPL has hosted over 700 Esports tournaments across Southeast Asia and Latin America.
The first ESPL Arena Initial Farm Offering (IFO) ended late Monday, with users reported to have “immediately claimed 33% of the unspent cake and purchased Arena”. However, the remaining “tokens will be issued based on a vesting schedule.”
The PancakeSwap team recently updated bCAKE, allowing farmers to “activate boosters on two farms with an adjusted boost multiplier”. The only condition is that the existing booster must be unset before installing the new one.
Interest in CAKE has been on the rise since the new year and this can be attributed to the launch of ESPL Arena and other major updates on farming pools such as bCake. CAKE BSC has also been popular among whales, becoming the most used coin after BTCB was ousted.
Insights from on-chain data presented by Sentiment confirm an increase in investor interest, as seen from the on-chain volume metric below. It appears that PancakeSwap is responding to the increased transactions on the value protocol. Cake price moved up along with the volume but pulled out of the trend due to slow activity over the weekend. The interest in CAKE is likely to increase this week as the bulls are pushing for the resumption of the bullish trend.
Pancake Swap Price Lives Between a Rock and a Hard Place
PancakeSwap price is dancing between important support and resistance marked by the 100-day exponential moving average (EMA) (in blue) at $3.58 and the 200-day EMA (in purple) at $3.79.
The position above the mean line of the Moving Average Convergence Divergence (MACD) indicator shows that buyers have the upper hand, at least for now. However, traders should approach CAKE with caution keeping in mind the potential for losses below the 100-day EMA.
Short positions in PancakeSwap price cannot be dismissed for now, but it is prudent to keep them inactive till the MACD (blue colored line) crosses below the signal line. Price action below the 100-day EMA could validate a decline towards potential take-profit targets of $3.20 and $3.00, respectively.
The bullish outlook for pancake swaps price will continue as soon as it breaks above the 200-days EMA. More buyers will enter the market to buy CAKE as an increase to $5.00 is expected. This will mark the start of the second phase of its recovery, with the third phase taking place between $5.00 and $10.00.
Consider Altcoins for Quicker Returns
Pancakeswap price is looking bullish but the bulls are heaving a sigh of relief ahead of the next recovery phase. In the meantime, investors may want to investigate Selected Presale Tokens Providing opportunities for early adoption. In addition to these altcoins The token has the potential to rally after being listed on exchanges for the first time, supporting a better future in crypto.
Meta Masters Guild (MEMAG)
A robust play-to-earn platform is showing a simple approach to the gaming industry that could increase user interest, which has seen a significant decline over the past few months. on the team meta masters guild says it wants everyone to be able to play blockchain games for free and start earning rewards for the time spent on them.
Players of the world’s first mobile-centric Web3 gaming guild will earn a currency called Gems. These tokens are versatile as they allow the player to swap them with MEMAG, the platform’s native token, which can be staked for more rewards. Some users can buy in-game NFTs with gems or cash out by exchanging them with other cryptos like ETH.
The Meta Masters Guild’s ecosystem is designed to reward players and anyone who contributes to its development. Some of the high-value contributions that are rewarded include game creation, supply of in-game assets to high-performing players, development of eSports teams, content creation, and participation in community events and gifts.
Investors can buy MEMAG in the current pre-sale that has already raised 376k by selling one token for 0.007 USDT.
Now go to the Meta Masters Guild.
Fightout (FGHT)
FightOut is a new crypto project that hopes to redefine the fitness lifestyle keeping in mind the Web3 era. It’s a Move-to-Earn (M2E) app with gym chains that transform the fitness lifestyle. Users in the ecosystem are rewarded for completing predetermined workouts and challenges while earning badges and growing within the dynamic community.
A tokenized economy will help drive the ecosystem where users earn FGHT tokens for completing M2E tasks. As FightOut is coming to revolutionize the fitness economy with Web3 solutions, users can create accounts and create their own digital NFT avatars to use in the Metaverse.
The FightOut team is excited to announce the first CEX listing for FGHT on the LBank Exchange with $2.98M raised to date. Investors are buying tokens taking advantage of a 50% discount, which is valid until $5 million is raised.
Calvaria (RIA)
Calvaria is a crypto project that aims to be at the forefront of bridging the gap between the “real world” and crypto. The project involves accelerating crypto adoption through a play-to-earn battle card game.
The team hopes to be competitive in the Web2 gaming market by creating two game versions. A game version will be available through app stores such as Google Play and the Apple Store.
On the other hand, the play-to-earn version (backed by blockchain functions) will accept all players without the many barriers to entry that often scare away non-crypto users.
The Calvaria pre-sale is nearly over, with only 9% of the tokens up for grabs. $2.82 million has been raised, well ahead of RIA’s first CEX listing.
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