Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"The Pancakeswap token (CAKE) has been one of those cryptocurrencies that have been steadily growing in the background. The popularity of the decentralized exchange (DEX) contributed tremendously to its rise until it took a hit in the bear market like other digital assets. However, a new development has opened up new promises as millions of CAKE tokens have been removed from circulation. 7 Million Burned CAKE\u00a0 A scheduled burn had seen millions of CAKE tokens taken out of circulation. Pancakeswap announced the burn on Twitter with figures showing that a total of 7,123,715 CAKE had actually been sent to a burn address. The total dollar value came out to around $29 million. Related Reading: The September Curse: Why Bitcoin Price May Touch $10,000 The team also reported growth across various spheres. The first was a 17% increase in trading fees, accounting for 334,000 CAKE and a dollar value of $1.38 million. Lottery and pottery saw a 28% increase with 40,000 CAKE with a dollar value of $166,000. The largest increase was in the NFT Market, Profile, and Factory, with a 215% increase of 16,000 CAKE and a dollar value of $65,000. CAKE finds support above $4 | Source: CAKEUSD on TradingView.com Others, such as the Prediction and Auction, were listed with declines. The auction had seen a decline of 1%, translating to 15,000 CAKE with a dollar value of $62,000, while Prediction dropped 18% with 75,000 CAKE, a dollar equivalent of $308,000. Ready For Another Bounce? The burn announcement had sent CAKE\u2019s price on an initial impressive rally that saw it break above $4.2. The digital asset had initially been trending below $4 for the better part of last week before the news of the burn. However, the uptrend didn\u2019t last long as momentum had died down. This first bounce was obviously fueled by the hype created with the burn announcement, so a correction was expected. With a trend like this, though, there is usually another bounce that comes after the first once the digital asset finds its footing. Related Reading: Ethereum Nears Another Milestone Ahead Of Merge, Rally Incoming? CAKE has now found support right above the $4 level, which has landed it above the 50-day moving average. With the rise in the popularity of decentralized finance (DeFi) once more following the Ethereum Merge, decentralized exchanges such as Pancakeswap are expected to see more volume. With this volume will come a demand for digital assets such as CAKE, and this demand is expected to push the price of the digital asset towards $5. CAKE’s price is up 1.16% in the last 24 hours and ranks 3rd on the list of top trending coins on Coinmarketcap at the time of this writing. With a market cap of $577.8 million, it is the 68th largest cryptocurrency by market cap. Featured image from The Coin Republic, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":501220,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[83647,86724,83579,83585,86776,14473,83578],"class_list":["post-501215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cake","tag-cake-price","tag-cakeusd","tag-cakeusdt","tag-decentralize-exchange","tag-dex","tag-pancakeswap"],"acf":[],"yoast_head":"\n
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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"CAKE Sets Sights For $5 After More Than 7 Million Tokens Are Sent To A Fiery Death","url":"http:\/\/wncen.com\/news\/cake-sets-sights-for-5-after-more-than-7-million-tokens-are-sent-to-a-fiery-death\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cake-sets-sights-for-5-after-more-than-7-million-tokens-are-sent-to-a-fiery-death\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Pancakeswap.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Pancakeswap.jpeg?fit=1140%2C641"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cake","cake price","cakeusd","cakeusdt","decentralize exchange","dex","pancakeswap"],"dateCreated":"2022-09-06T17:00:39Z","datePublished":"2022-09-06T17:00:39Z","dateModified":"2024-06-11T14:23:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"CAKE Sets Sights For $5 After More Than 7 Million Tokens Are Sent To A Fiery Death\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cake-sets-sights-for-5-after-more-than-7-million-tokens-are-sent-to-a-fiery-death\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cake-sets-sights-for-5-after-more-than-7-million-tokens-are-sent-to-a-fiery-death\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Pancakeswap.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Pancakeswap.jpeg?fit=1140%2C641\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cake\",\"cake price\",\"cakeusd\",\"cakeusdt\",\"decentralize exchange\",\"dex\",\"pancakeswap\"],\"dateCreated\":\"2022-09-06T17:00:39Z\",\"datePublished\":\"2022-09-06T17:00:39Z\",\"dateModified\":\"2024-06-11T14:23:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Pancakeswap.jpeg?fit=1140%2C641","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/501215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=501215"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/501215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/501220"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=501215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=501215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=501215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}