The price structure of PancakeSwap (CAKE) has put investors in a dilemma in the altcoins that have withdrawn due to the volatility in Bitcoin (BTC).
PancakeSwap (CAKE), which is generally known for pricing in the opposite direction of the market, showed these signals again with its short-term price structure. Many altcoins tested the recent support level as Bitcoin (BTC) slumped from $31,500 to below $30,000. However, CAKE performed the opposite, increasing 20 percent in the last two days and 5.11 percent in the last 24 hours, reaching $1.55, becoming the second-highest rising coin of the day.
Unable to Provide a Stable Trend
While BTC came from $ 24,800 to $ 31,500, CAKE, which remained in the background compared to other altcoins, increased despite the decline of the market, once again showing that the parity moved against the market. CAKE’s upward pricing has drawn attention as most altcoins have lost value and retreated into the support zone in the past day.
CAKE, one of the coins that experienced the bull season in 2021 most clearly, tries to create a trend with its positive pricing from time to time. However, due to the fact that this structure is not stable and cannot attract investors at a sufficient level, it remains uninspired. In addition, CAKE, which increased by 20 percent in two days, found its place again on social media platforms.
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