All you need to know about CAKE, PancakeSwap’s new Syrup Pool update

While a majority of the market cherished the benefits of the bullish market, CAKE’s performance remained unsatisfactory. In fact, as per

, CAKE’s price declined by over 1.4% in the last 24 hours. At press time, it was trading at $3.77 with a market capitalization of more than $681 million.’s on-chain performance gave an idea of what went wrong. The crypto-community’s sentiment around CAKE remained negative throughout the week, which was evident from its weighted sentiment. CAKE’s daily on-chain transaction volume in loss also remained relatively high.

The Chaikin Money Flow also went down, further increasing the chances of a sustained downtrend. Finally, ’s MACD flashed hopeful signs of a trend reversal as it projected the possibility of a bullish crossover.Subscribe to get it daily in your inbox.

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