Biggest Movers: CAKE Hits $10, as DOGE Rises for a Second Consecutive Session

DOGE was erstwhile again higher connected Monday, arsenic traders bought the token, days aft a video astir the meme-coin was shared by Elon Musk. This came arsenic CAKE was besides a large mover today, climbing beyond the $10 mark, hitting a multi-month precocious successful the process.

Dogecoin (DOGE)

DOGE roseate for a 2nd consecutive session, arsenic bulls continued to heap into the meme-coin, pursuing a caller tweet from Elon Musk.

Following a debased of $0.1366 connected Sunday, DOGE/USD rallied to a highest of $0.1553 successful today’s session, arsenic prices were astir 6% higher.

Today’s highest is the highest level DOGE has traded since February 14, and comes pursuing a breakout of the $0.1510 absorption level.

DOGE/USD – Daily Chart

However, this ceiling has been comparatively firm, with prices falling from earlier highs, arsenic the determination gradually turns into a mendacious breakout.

Looking astatine the chart, DOGE is present trading astatine $0.1507, and the 14-day RSI indicator besides hovers beneath its ain ceiling of 65.70.

As a effect of slowing momentum, bears successful the marketplace are apt anticipating a reversal, and waiting for the cleanable clip to re-enter.

Pancakeswap (CAKE)

Despite crypto markets being little crossed the committee connected Monday, determination were immoderate notable exceptions, which were capable to emergence higher.

One of these tokens that climbed higher was CAKE, which gained by arsenic overmuch arsenic 7% to commencement the week.

CAKE/USD surged to its highest level since January 21 connected Monday, arsenic prices deed an intraday precocious of $10.22

CAKE/USD – Daily Chart

The terms of CAKE has surged successful the past fewer weeks, arsenic it bounced from enactment of $5.50 connected March 16, to present trading implicit $10 to statesman the period of April.

Despite these gains, CAKE is inactive acold from its grounds precocious astatine $27, and with terms spot presently overbought, we whitethorn person to hold earlier climbing person to those levels.

The 14-day RSI is presently tracking astatine 75.95, which is adjacent to its highest constituent since past August.

Can CAKE proceed to ascent higher, contempt being already overbought? Let america cognize your thoughts successful the comments.

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