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ZRX, SUSHI and CAKE are the top DEX tokens to consider on April 27.
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Each token has experienced notable developments and strong growth momentum.
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All three tokens still have potential to increase in value further.
After the decentralized exchange (DEX) protocol 0x Labs raised $70 million in a Series B round from Greylock, OpenSea and Jared Leto, interest in DEX tokens surged. 0x Labs is an NFT partner of Coinbase and has launched a number of NFT trading features that enable users to trade digital collectibles across multiple blockchains.
These developments have helped renew attention on DEX tokens. Below we examine three of the most notable options and evaluate whether they could be worthwhile buys on April 27.
We take a closer look at the prices and recent performance of ZRX, SUSHI and CAKE to give you a clearer picture of whether to consider purchasing them on April 27.
Should you buy 0x (ZRX)?
On April 27, 2022, 0x (ZRX) was trading at $0.828495.
0x (ZRX) reached its all-time high on January 13, 2018, when the token peaked at $2.50. Compared to that ATH, ZRX was $1.671505 or 201% higher than its price on April 27.
Looking at recent performance over the last month, ZRX hit a low on March 7 at $0.4641. The highest point during that period was March 31, when the token rose to $0.8401. This represents an increase of $0.376, or roughly 81% from the low.
Given this momentum and recent recovery, it is reasonable to expect ZRX could reach $1.00 by the end of April.
Should you buy Sushi (SUSHI)?
On April 27, 2022, Sushi (SUSHI) was trading at $2.97.
SUSHI’s all-time high came on March 13, 2021, when it reached $23.38. At that ATH, the token was $20.41, or about 687%, higher than the price on April 27.
Over the past month, Sushi recorded a low on March 13 at $2.7756 and a high on March 31 at $4.904. That move represented an increase of $2.1284, or about 76% over the period.
Considering the recent upward swing and the token’s volatility, SUSHI could reasonably reach around $3.20 by the end of April.
Should you buy PancakeSwap (CAKE)?
On April 27, 2022, PancakeSwap (CAKE) traded at $7.63.
CAKE’s all-time high was $43.96 on April 30, 2021. At that peak, the token was $36.33, or about 476%, higher than its April 27 price.
Reviewing the token’s recent month-long performance shows a low on March 15 at $5.36 and a high on March 31 at $8.45. That swing equates to an increase of $3.09, or 57%.
At $7.63, CAKE looks like a solid buy with the potential to reach $8.00 by the end of April, based on recent momentum and historical volatility.