With Uniswap's announcement that v3 won't be coming until May, Pancake Swap will pick up even more market share as people look for lower transaction costs.
Once it breaks through the $12.57 resistance, it will easily reach $13.41 and $14.61 is completely possible in a short timeframe.
Look to play this one for the short-term, however, due to their tokenomics creating a lot of inflation over the long-run.
Trade active
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We are currently bouncing between $12.80 - $13.50.
I'm buying at $12.90 and selling 75% at $13.45 each time it swings back and forth.
I can see it consolidating in this region for most of the day until tomorrow.
I don't believe it'll go below $12.60 at this point, but if it does, I would expect $11.80 to play the role of a hard support.
They had a vote tonight to lower the block rewards by 20% and lower the inflation of the coin. The announcement included a vast number of other ways they may deploy to burn coins as well. This might get me to hold longer than originally thought.
brm77
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@brendanwenzel, thank you for sharing your great idea, that means in numbers, what? BTC/USDT for sure is today stronger as expected, may the trigger for the limits is more on CAKE/BTC side...?!
brendanwenzel
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@brm77, It means that there will be 20% less inflation of the coin in the short-term, but that they are actively seeking ways to become "emissions-free", which means the coin supply will stabilize and thus drive price higher with more demand.