In the BNB chain ecosystem, Cake has been a leading decentralized exchange (DEX) and has garnered much attention. Despite its infrastructure and technological strength being quite reliable, the price movement of its token has been rather dramatic. From a former high of 20 dollars, it has slid down to around 1 dollar, and Cake's price performance seems to have gone through a rollercoaster of bull and bear cycles.

This price movement may stem from the high participation and excessive speculation of a large number of retail investors early on. Nowadays, the number of investors who are deeply trapped may have significantly decreased. There is a view that only after the last batch of long-term holders completely exits the market can Cake possibly welcome a real recovery and growth.

In terms of personal investment strategy, I choose to pair half of my Cake with BNB to create a liquidity pool (LP) for mining activities in order to obtain stable returns. In the short term, I tend to maintain my current position unless the price of Cake breaks through the $5 level, otherwise I won't consider exiting.

In the long run, I am willing to continue holding Cake for the next 5 to 8 years. After all, the alternation between bull and bear markets in the cryptocurrency market often reflects the psychological game between participants. Sticking to a long-term investment strategy may make it easier to achieve success in this volatile market.

It is worth noting that cryptocurrency investments have high-risk characteristics, and investors should make prudent decisions based on their own risk tolerance and financial situation. At the same time, continuously following project developments, market dynamics, and changes in the regulatory environment is also a key factor in formulating wise investment strategies.