Crypto: Shiba Inu, CAKE and Nervos Network

Price analysis and latest news about the most attractive crypto assets according to investors, including Shiba Inu, CAKE and Nervos.

Analysis of Shiba Inu, PancakeSwap (CAKE) and Nervos

This week is confirmed to be bullish for some of the best performing crypto assets since the beginning of the year, among them the most interesting are Shiba Inu (SHIB), Pancake Swap (CAKE) and Nervos Network (CKB). 

Shiba Inu (SHIB) 

Shiba Inu (SHIB), the ERC-20 token created just over two years ago to compete with the other dog coin, Dogecoin, is setting up its own ecosystem called Shiba Swap.

ShibaSwap currently consists of a token named LEASH and another one called BONE.

The #ShibArmy i.e., the community that supports the Shiba Inu project, which in turn protects, safeguards and helps develop the ideas of its supporters. 

While waiting for the launch of Shibarium and the metaverse, the performance of the meme coin this year has already been noteworthy.

The relative strength index has reached 70 due to the volume of SHIB demand for purchase.

Analysts expect SHIB to go into a marked upward rally phase, confirming the movement of some whales including one that moved 3.3 trillion SHIB from two wallets. 

The market maker will be the launch of Shibarium which should be any day now according to leaked rumors. 

Shibarium will bring in lower fees, greater speed and will be a strong driver for the adoption of Shiba Inu. 

In the meantime, the SHIB metaverse is steadily taking shape, with developers continuing to work tirelessly and saying they are happy to show new progress later this year. 

To date Shiba Inu is worth €0.0000098 and has reached a market cap of €5.40 billion with a daily volume of €234.45 million. 

There are currently €549.063.28 billion worth of SHIB in circulation. 

PancakeSwap (CAKE) 

The PancakeSwap (CAKE) dApp is an exchange platform and provides liquidity by means of farming as well as fees. 

Much like Shiba Inu, PancakeSwap also originated in 2020 on Binance Smart Chain.

Investors trade a pool of liquidity that grows based on deposits made against Tokens from the provider. 

The tokens are later used to return liquidity, part of the fees, and are called FLIP, which join the more famous CAKE and SYRUP. 

CAKE is worth €3.49 with a daily volume of €33.3 million.

In the last day the token rose 1.68% and reached a market cap of €570.6 billion with 163,621,538 CAKE in circulation out of a total maximum of 750,000,000. 

Yesterday, the company launched ESPL Syrup Pool through collaboration with Gebting Ventures, Warner Music, Infinity Ventures Crypto and Arcanum Capital, the pool is nothing more than a 120-day ad hoc fundraising for Esport. 

The announcement was made on Twitter where PancakeSwap was able to explain that ESPL Arena is an eSport tournament platform with 280,000 active users and more than 700 sports competitions.

The first Initial Farm Offering was there yesterday, investors redeemed long-stalled CAKE and 33% of ARENA.

Nervos Network (CKB) 

Nervos Network (CKB) enjoys the favor of Investors Observer analysts who changed their rating on the token yesterday by assigning it the prediction of “very bullish.” 

Yesterday CKB rose 7.05% to $0.003467784188, outperforming the crypto market average. 

The price of Nervos Network also breached the last resistance placed at $0.00330881694013115 and could go through a period of great volatility. 

Nervos Network’s market capitalization has increased to 80,562,464.20 but the volume is lower than the average of the last week. 

The current price level puts Nervos Network still 91.72% below its all-time high.