#PancakeSwap Destroyed $16 Million Worth of CAKE! What Will the Token Price Be?

PancakeSwap has taken a big step to increase the value of the $CAKE token!

Popular decentralized exchange PancakeSwap announced the destruction of 9,039,859 CAKE tokens. The value of this destruction is around 16 million dollars.

Well what does it mean?

* The number of CAKE tokens in circulation is decreasing.

* This may lead to an increase in the price of the token.

* PancakeSwap aims to provide more stable pricing by controlling the supply of the token.

However:

* The exact consequences of this action for PancakeSwap and its users are not yet known.

* Time will tell what impact token destruction will have on the market.

What would you do if it were you? Would you consider investing in CAKE? Share your thoughts in the comments!