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<p class="is-style-lead">A Dec. 6 post from Lookonchain, a leader in cryptocurrency price updates, highlights that BAKE, a part of the BakerySwap ecosystem and a decentralized automated market-making (AMM) protocol, had increased 100%.</p> 
<p>The price surge was said to follow BakerySwap’s announcement of their new launchpad project on BRC20, which got 181,000 impressions on X.</p> 
<h2 class="wp-block-heading" id="a-strategic-move">A strategic move&nbsp;</h2> 
<p>At the same time, Lookonchain reports that the third-largest holder, a whale, had deposited 4.38 million BAKE or $1.4 million into the global cryptocurrency exchange, Gate.io.&nbsp;</p> 
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   <p lang="en" dir="ltr">The price of <a href="https://twitter.com/search?q=%24BAKE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BAKE</a> increases 100% today, driven by <a href="https://twitter.com/bakery_swap?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@bakery_swap</a>'s announcement of the launchpad project on <a href="https://twitter.com/hashtag/BRC20?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BRC20</a>.<br><br>A whale(the 3rd largest holder) deposited 4.38M <a href="https://twitter.com/search?q=%24BAKE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BAKE</a>($1.4M) to <a href="https://twitter.com/hashtag/Gateio?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Gateio</a> after the price reached highs and currently holds 19.48M <a href="https://twitter.com/search?q=%24BAKE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BAKE</a>($6.25M). <a href="https://t.co/fM1g91jRMA" target="_blank">pic.twitter.com/fM1g91jRMA</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1732328754905780702?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 6, 2023</a>
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<p> You might also like: <a href="https://crypto.news/institutions-show-no-interest-in-altcoins-allocate-bags-in-bitcoin-bybit-research-says/"> Institutions show no interest in altcoins, allocate bags in Bitcoin, Bybit Research says </a> </p> 
<p>This strategic move occurred after BAKE’s price reached close to its high of $0.352, suggesting the whale now maintains a total holding of 19.48 million BAKE, valued at $6.25 million.&nbsp;</p> 
<p>Unfortunately, despite earlier excitement today, the token has since turned in the opposite direction, showing a 5.29% decrease where it currently sits at $0.2773.&nbsp;</p> 
<h2 class="wp-block-heading" id="changing-investor-sentiment">Changing investor sentiment</h2> 
<p>The BAKE altcoin represents another altcoin that has seen significant investor interest. As reported in a Dec. 6 update on X by Kaiko, the volume of altcoin’s market share reached 67% last week, which many analysts believe is the start of altcoin season.</p> 
<p>The data from this prominent cryptocurrency market source indicates a notable change in investor sentiment and what might be an ongoing trend for the market.</p> 
<p> Read more: <a href="https://crypto.news/ustc-skyrockets-lunc-vote-ai-altcoin-reddit/"> USTC skyrockets after LUNC vote as rising AI altcoin trends on Reddit </a> </p>

BakerySwap’s launchpad announcement sends token soaring

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