The inflationary crypto token CAKE, which serves as the economic incentive foundation of PancakeSwap, the largest decentralised exchange on the Binance Smart Chain, is striving to recover after a sharp decrease in recent weeks.
Some experts claim that Pancake Protectors, a new play-to-earn, player-versus-player game from PancakeSwap, may be boosting sentiment since CAKE/USD was last trading just above $1.7 per token, up over 20% from recent lows around $1.50.
The game debuted on Monday, according to the official PancakeSwap Twitter account.But the price behaviour of CAKE is still gloomy.
The technical outlook for CAKE has been firmly negative ever since it broke to the downside of its late 2022/early 2023 uptrend in April. Further evidence that the bears are still in charge comes from the cryptocurrency’s rejection of its 21-Day Moving Average on Monday. The cryptocurrency’s comeback towards $2.0 thus appears unlikely to continue.
CAKE’s best chance right now may be that PancakeSwap decides to adopt the suggestion made about a month ago to reduce its inflation rate from the current 20% to about 3-5%.
The pre-sale price for Wall Street memes has reached $1 million
That Wall Street Memes’ $WSM meme currency presale will continue to soar after having just surpassed the historic $1 million mark is considerably more plausible than a sustained CAKE resurgence.
Wall Street Memes is one of the most popular retail investing groups on the internet. It first gained notoriety during the 2021 meme stock craze, but it has more recently increased its significance in the cryptocurrency sector thanks to a new presale of its linked WSM coin.
The presale is quickly following the hugely profitable minting of the 10,000-piece Wall Street Bulls NFT collection in 2021, which made a renown $2.5 million and notably sold out in 32 minutes.
Given the scale of the Wall Street Memes community, it is not surprise that the $WSM presale was a success.
Not only does its wallstbets Instagram account have 523k hyper-engaged community members, but it also has 214k on Twitter and more than 100k on each of its two other Instagram channels, wallstgonewild and wallstbullsnft.
Analysts estimate that Wall Street Memes has a social community of 1 million degens, which all but ensures that the $WSM token will be listed on top-tier cryptocurrency exchanges like Binance.
Power to the Little Guy- Wall Street Memes
Wall Street Memes arose from a movement in 2021 in which little investors banded together to take on Wall Street.
While the campaign failed to overthrow institutional investors’ general dominance, it did compel the Melvin Capital hedge fund to close. As a result, the team behind the Wall Street Memes token understands everything there is to know about establishing a brand in the modern financial era.
And in keeping with its emphasis on boosting the underdog, all of the tokens are intended for the Wall Street Memes community; there is no secret private sale or generous team allotment. 10% for CEX liquidity, 10% for DEX liquidity, 30% for community prizes, and 50% of the token supply are accessible during the presale.
Given that community awards will account for 30% of the supply, airdrops to holders should be a significant component of the ecosystem.
In fact, the first $WSM airdrop is currently open. To qualify for the drop, you must join the discord, connect your social media accounts, interact on social media, hold $WSM, and engage in trading.
You’ll need ETH, BNB, or USDT in your crypto wallet to purchase $WSM tokens (ERC-20 or BEP-20 versions accepted). To make a purchase, just log into the website.
Wall Street Memes is already expected to gain 10 times as much when it lists on exchanges, and you may participate in that growth.
