Penkexwap was the best performing top -100 cryptocurrency last week as its ecosystem had increased volume.
The pancakexwap (cake) tokens increased by about 50% in the last seven days. It was trading at $ 2.57 on Sunday, up to 125% from its lowest level this month, it was offering a market cap of over $ 767 million.
Pancakexwap dex volume hits $ 1 trillion
Defi Lama Data This shows that the total volume of pancakexwap jumped 64% in the last seven days, its best performance since November 2021 to $ 28.23 billion. It also passed a major milestone: its historical volume reached $ 1 trillion.
The volume of pancakexwap flipped other popular players in the dex industry such as Radium (Ray) and Uniswap (Uni). Uniswap handled $ 15.3 billion, while the amount of radium was more than $ 11 billion.
Binense Smart Chain Ecosystem was also a strong week in other big dex daps. The weekly volume of Thea rose by 82% to $ 1.5 billion, while Dodo and Waufi increased by 53% and 125% respectively.
The Dex Volume of Pancakexwap has translated a high fee for the exchange. This year its total fees Rose Up to $ 64 million, 365-day reached $ 274 million. It has become one of the most profitable players in Defee Industry.
The network performed well due to the growing BSc Meme coin ecosystem. One of the most popular Meme coins was Broccoli, inspired by Changpeng Jhao’s dog.
Cake price analysis
The daily chart suggests that the price of the cake became permanent after falling at a low of $ 1.1855 earlier this month. This was a notable level as it was the lowest level in August last year.
It is also indicated that tokens have formed a double-bottom pattern, with a neckline at $ 4.5856, its highest level on 4 December. One of the most faster chart patterns in a double-bottom market is.
The pancakexwap value has gone above 50-day and 200-day exponential moving average. It is also making a rapid penette chart pattern, a popular continuity signal.
Therefore, the least resistance to the price of the cake coin is a rapid pace, the initial target is $ 3.4185, this week has its highest level. A brake above that level will indicate more reverse, with the next point to look at $ 4.5856, double-bottom neckline and the final resistance of Murray Math Lines Tools.
