Cake observed 94% down from its all time high worth
I personally purchased coin when it was around $20. My initial investment shrinked up to 22% of the initial investment despite getting more Cake from staking reward. Overall, Cake coin observed more than 94% down in its worth in last 2 years. This make a Cake coin a gem which has high potential to rise again but Cake buying at current price is still questionable.
One of the main reason of dip in Cake price are excessive minting than burning and unstaking of Cake coin. Cake APR of 55% was attractive one. However, in order to control the emission of new Cake, team has curtailed APR up to 20%. This will help to control the issue of excessive coin. But it is enough to rise for the coin to perform well in the market.
The simple answer of this question is "NO". 20% APR staking has already forced many investors to withdraw their investment. It is a fact the lower APR will never attract new investors.
Cake needs an out of box solution to maintain its worth. There is proposal that a Cake may be curtailed its total supply from 750 million to 500 million Cake. I supported the 500 million Cake as it will help to give strength to Cake. I urge all my followers to cast vote on proposal according to your choice. In the end we all are responsible for the pump and dump of Cake so it is a better idea to share your opinion on proposal.
In my opinion, Cake team need to follow the Cubdefi philosophy to make Cake a deflationary token. Cubdefi has made Cub coin deflationary token in the month of March. Making Cake a deflationary token is only possible if the burning number is more than total issued Cake coin. Cake team need to adopt new strategy in order to bring value to its coin. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
I can't believe it, I know it must be painful for investors to see their token dumping that much. From ATH of $44+ to $2+. At this point no one knows whether to hold or to cut their losses.
And it doesn't seem as the team is cooking up anything to help the project move forward. If they are, then it will be great decision to hold, if not, investors should cut their losses.
In terms of adding value to the project, I think turning Cake into a deflationary token would be a good choice too.
Let's hope team will work on Cake to make it a deflationary token. Stay blessed
I have a few cake tokens. I paid about $10 for them. I thinking about getting some more !
Good startegy but I would suggest you to wait and see how the team tackle the dip issues. Stay blessed
cake has faced a lot of beating down and long time holders have suffered.
Initially CZ used to promote it a lot and there were periodic burns being announced.
However over time it slipped from the radar of many and the price has slid down
I hope it sees better valuations going ahead.
Well said. Only thing we can do is to hold our asset and wait for the bull run.
At present if we look at the market, more than half of the coins that are there are so down and I say that the good project is the past time to put money into them. This project is a very good and big project and should be invested in it in my personal opinion.
I invested a lot of equity but my initial investment is currently 78% down. So, in my opinion , the best policy is to hold your asset and wait for the next bull run.
This is the only solution we have at this time.
Exactly, we have to wait for a good time. Stay blessed
I feel you as I bought CAKE as well when the price was high. Luckily on one side is that I did some selling in the Splinterlands (somewhere above $6k) and thought CAKE can provide better returns and considered it safe at that point. While I am quite down on it, at least the CAKE rewards from LP helped a bit. I hope in the next bull run that maybe I will recoup my investment, even if this is happy wishing.
Cake disappointed many investors. I hope team will take steps in order to give more worth to Cake coin. Selling at this price is a foolish idea as it will give us huge loss. Only thing we can do is to hold the Cake for the next bull run. Anyhow, thanks for stopping by and sharing your experience with us. Stay blessed
One of the main reason of dip in Cake price are excessive minting than burning and unstaking of Cake coin. --excessive minting without a corresponding reduction through burning can have negative implications on a cryptocurrency's value, decentralization, and scalability. Therefore, it is essential to ensure that the supply of a cryptocurrency is appropriately managed to avoid these issues
Well said. I am hoe full that Cake team will curtail the total supply by 33%. Let's hope for the best.