One of the main reason of dip in Cake price is the generation of more token than burning. In order to generate less token Cake has already curtailed the APR on its farming platform but still it will not help to bring worth in Cake price.
Cake already has introduced burning mechanism to increase its token worth. However, things are not going good for the Cake.
Overall Cake observed approximately 97% down from its all time worth.
Recent dip in Cake worth slipped its ranking from 74 to 103. Such massive dip in Cake worth created FUD in investors mind. The situation arises that is it a good time to sell your Cake coin. Straight answer is No. There is no need to sells if you purchased at higher rates.
Personally I bought Cake when it was trading around $20. My initial investment has shrinked to 85%. This means selling at current price will give me 85% permanent loss. There is no need to sell coins at such a cheap rate. Better is to hold your assets and stake in Cake to earn more Cake token and wait for the pump in Cake Price.
Being a largest decentralized exchange of Binance Smart Chain, Cake has great future. Holding is the key here. 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.