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The PancakeSwap price surged 24% in a month and rose slightly in the last 24 hours to trade at $2.47 as of 4:55 a.m. EST on trading volume that soared 61% to $151.73 million.
With the strong performance by the CAKE price over the past 30 days, the altcoin has emerged as a top-performer in the market.
PancakeSwap Price Prediction
While PancakeSwap’s monthly chart suggests that the project is seeing steady recovery from last month’s volatility, its price is still struggling on a day-to-day basis. For example, compared to the situation from 24 hours ago, the CAKE price is nearly flat. In the meantime, however, it saw a dip from $2.46 to $2.41, followed by a surge to $2.51, and another dip to $2.47.
Its Bollinger Bands are consistently wide due to major price fluctuations, which are pushing both the upper and lower bands away from each other, suggesting that CAKE is dealing with strong volatility.
CAKE/USDT chart analysis (Source: TradingView)
However, when it comes to the project’s Relative Strength Index (RSI), its performance has been bullish over the past several days. The RSI value mostly fluctuated between the values of 50 and 70, breaching both levels from time to time, but overall, it remained consistently between them.
This suggests that traders are willing to push the metric to the overbought zone, but also that any sell-offs end once the RSI drops back down to 50. Traders do not expect it to go further down, and instead, they start buying again.
Right now, the RSI is once again close to 50, suggesting that it might go up soon, which could mean the same for the project’s price. If this happens, CAKE might go back up to $2.50 and re-test this resistance.
Promising Alternative To PancakeSwap
With CAKE battling a strong resistance, Snorter Token (SNORT) became one of the most popular new ICOs that crypto investors started targeting recently. This is a new Solana-based project, offering a native cryptocurrency for the Solana meme coin trading bot.
The project believes that many traders are missing out on the full potential of the crypto industry, and are only “scratching the surface, trying to flip Solana meme coins.”
Instead, it believes that they should go for the “real gems,” which are hidden deeper down. Powered by the SNORT token, the Snorter Bot aims to make on-chain trenching “as easy as slurping up ants,” which is why the team chose an aardvark as the face of its brand.
The project just launched its ICO a few days ago, but it has already raised over $425k. Traders rushed to join its ICO for a variety of offered features, such as fast and secure swaps, rugpull protection, copy-trading, limit orders, automated sniping, and a honeypot detection system that can easily detect scam projects and protect users from them.
The interest in the project is skyrocketing, YouTube channel 99Bitcoins, which has over 723K subscribers, believes SNORT has 100x potential.
If you wish to join others who have already invested nearly half a million dollars into SNORT in record time, go to its website right now and buy while the token’s price is only $0.0943. But hurry, the token’s price will increase in less than 2 days.
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