What next for CAKE as PancakeSwap burns 8.5 million tokens?
🔥 PancakeSwap just burned 8.5 million $CAKE tokens, worth over $25M! 🥞 This major token burn follows a recent reduction in maximum supply to 450 million. The community-backed move aims for long-term stability and adoption in the DeFi ecosystem. 🌐💼
Trading fees, prediction, lottery, and more contributed to the burn. The CAKE community supports these regular burns, often coinciding with notable price movements. 📈🔥
Currently priced around $2.95, up 1.2% in the past 24 hours. 📊 If sentiment improves post-market declines, CAKE might reclaim highs near $3.94. Buyers could defend the $2.00-$2.50 region. 🚀🛡️
Stay tuned for more updates on PancakeSwap's journey! 🥞💰
