The PancakeSwap original token CAKE has continued to rebound in recent days, with prices rising to about US$ 1.53, or 5 per cent a day. At the same time, the completion of a new round of token destruction of the agreement has reduced market flows and has brought the proximity of $1.60 to a short-term focus.

Approximately $812 million destroyed during this round

According to reports, PancakeSwap destroyed 55.56 million CAKEs at this time, estimated to be close to $8.12 million. The destruction of tokens usually reduces supply in circulation and may support prices when demand remains constant or strong.

However, the contraction of supply per se is not directly equivalent to a sustained price increase. The market is even more concerned about whether the purchase will continue to take over while the sale is still concentrated in the vicinity of US$ 1.60, and is contributing to a more stable price station.

  • Destruction: 556,000 CAKE
  • Estimated value: approximately $8.12 million
  • Latest prices: approximately US$ 1.53

Short-line focus near $1.60.

Based on current trends, CAKE has recovered from its previous lows and has re-entered the 1.60 to 1.66 dollar range. According to the report, if the price could be effective, it could be further tested at $1.55, or even $1.00.

On the contrary, if this position continues to experience significant decompression, CAKE may be able to return to the inter-section, fall back or point to the 1.45 to 1.42 USD area. If that support breaks down, the market horizon may move further between $1.27 and $1.30.

Follow-up is still seen as a deal and a relay. degrees

The report mentions that while the current price kinetic energy has improved, the US$ 1.60 has not only been the integer level, but has also been a more concentrated area in the previous period. Therefore, the ability to release a breakthrough remains the key to determining the sustainability of the rebound.

If the breakthrough is accompanied by a condensation of the deal, it usually means that the demand for the purchase is more solid; if the multiple rush is not successful, it means that the current upswing continues, and the CAKE short-line rate will remain in a concussion pattern.