Trending Token Bonus Cake Displays Risk of Nano-Cap Tokens in 40% Correction

The token has seen a wild ride over the weekend, with much of the activity trending sharply down.

By
Robert D. Knight
on
September 7, 2021
Category:
BSC News

Bonus Cake

Bonus Cake has had a challenging few days despite earning a spot on CoinMarketCap’s (CMC) Trending Token list. While Trending Tokens at CMC can provide an indicator of market interest, that interest does not always equate to price appreciation.

While the Bonus Cake team was quick to accentuate the positives of the “Miraculous growth” of BonusCake leading up to September 5th, some community members were less happy. 

“What growth are u imagining? From 4 mln. market cap to 2mln.. in few hours.. downward spiral,” said one community member on September 5th - before the most recent price drop.

It is hard to imagine the recent price movement has pleased the malcontents any better. The volatility over the last few days serves as a reminder that nano-cap tokens can be especially difficult to predict. With a market cap of $1,417,431, Bonus Cake is the kind of project that is likely to witness sharp price movements now and in the future.

The BonusCake website | Source

The price of BonusCake Token was $0.00002413 on Sunday, 5th of September, before it fell 40% to $0.00001469 on Monday. From Monday to Tuesday, a further 20% fall carried the token to $0.00001228. The token has since recovered slightly to $0.00001417.

The Imitation Game

There’s no such thing as a good idea that can’t be copied, iterated upon, and occasionally improved, and in crypto, that statement is doubly true. Bonus Cake is among several CAKE ‘reflection tokens’ that pay rewards in $CAKE tokens to its holders.

Some of the other tokens which do this are BabyCake, CakeDoge, PuppyCake, and MaxiCake.

Where to find Bonus Cake:

Website | Twitter | Telegram

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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy and he also hodls some cryptocurrency.

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