Everyone is bullish about the PancakeSwap’s Recovery. As the cryptocurrency market enjoys the festive season with significant price gains across major altcoins, PancakeSwap (CAKE) emerges as a standout performer with a 60% weekly surge and the fear of missing out on a potential 100x token is driving traders’ attention towards the Meme Moguls (MGLS).
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Pancake swap recovery drives attention towards Meme Moguls
PancakeSwap (CAKE), the leading decentralized exchange (DEX) platform in the Binance Smart Chain ecosystem, has observed a noteworthy surge in its native governance token’s value over the past week.
According to CoinGecko data, CAKE has surged by nearly 60% in the last seven days, reaching levels above $3.72, last witnessed in April 2023. A significant contributor to PancakeSwap’s recent gains is the implementation of token burns, with a notable burn of over 10 million CAKE tokens (approximately $34 million) on December 26.
This move significantly reduced the circulating supply and heightened potential buy pressure as investors eye bullish market opportunities.
Burn and reduction in Maximum Supply
The significant burn exemplifies PancakeSwap’s deflationary approach, possibly including a reduction in its maximum supply from 750 million to 450 million CAKE tokens, as recently proposed.
The community expresses excitement about CAKE’s future, currently ranked 81st among the largest cryptocurrencies with a market cap of $920 million.
If PancakeSwap continues its weekly CAKE burns, the combination of a diminishing supply and other market catalysts could propel CAKE prices higher, with the token reaching previous highs of $43.96 during the last bull market.
Meme Moguls (MGLS) Generates Excitement Ahead of Launch
Amidst the crypto market enthusiasm for key developments, including regulation, Meme Moguls stands out as a new project gathering significant investor interest.
This innovative meme-based assets marketplace holds the promise of allowing ordinary traders to unleash their inner mogul capabilities and potentially join the ranks of crypto millionaires.
Fueled by MGLS, Meme Moguls offers a platform where token holders can engage in a community-driven project, participating in earning avenues such as staking, trading, and a gamified world featuring exclusive NFTs.
The ecosystem includes a crypto casino, an exchange trading platform, a metaverse (Mogul Land), and a fantasy trader, providing lucrative rewards across its various features.
Meme Moguls (MGLS) Presale Attracts Attention
The Meme Moguls presale has progressed to stage 3, with growing investor interest reflected in the increasing allocation for purchasing MGLS. This traction coincides with a resurgence in meme coins, as evidenced by recent spikes for Bonk, Shiba Inu, and Dogecoin.
The project’s tokenomics, highlighting a 60% allocation for the community and zero buy and sell tax, has captivated the trading community. Currently priced at $0.0025, MGLS offers a potentially attractive entry point for investors, prompting speculation about whether this token could elevate the meme sector to new heights.
To conclude, the pancake swap recovered by a 60% weekly surge which drove the traders attention toward Meme Moguls. Meme Moguls, particularly during a potentially explosive bull market, has become a subject of interest. As the crypto market presents opportunities to turn seemingly overlooked tokens into assets with significant returns, investors remain vigilant in their search for new gems.
Note: It’s a research based article not a financial advice.
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