CAKE rises 9.89% to $2.41 amid deflationary token burns
- —CAKE trades near $2.41, up 9.89% in 24 hours and +59.02% over 30 days
- —Volume of $74.29 million is 43.71% above the 30-day average
- —Over the month, 2.75 million CAKE were burned against issuance of 674,316 tokens
- —RSI at 69.8, resistance at $2.42 (0.0% Fibonacci level)
Why it matters: Token burns reduce CAKE supply, which supports the price if demand holds, but proximity to overbought levels risks a correction.
Source: DiarioBitcoin