- CAKE surges 2.8%, major announcement hints at significant gains!
- PancakeSwap’s CAKE shows strong buying activity, targeting $2.75 price point.
- Analysts predict 115% upside potential for CAKE by late 2025.
PancakeSwap’s native token, CAKE, is experiencing an exciting surge in value, currently trading at $2.64 after posting a 2.8% gain in the past 24 hours. This upward momentum follows a teaser shared by the PancakeSwap team on their official X account, hinting at an upcoming major announcement. The growing anticipation has sparked increased market interest, contributing to the token’s impressive price action.
According to data from CoinMarketCap, CAKE began the session around $2.56 but quickly gained momentum as buying pressure intensified. As the session progressed, CAKE found strong support at the $2.55 level, while $2.56 acted as a key intraday pivot. With the token currently holding above the $2.60 mark, the next resistance lies at $2.64. A breakout beyond this level could see CAKE pushing toward $2.70 or even $2.75. However, if it fails to maintain support at $2.56, a pullback toward $2.50 is possible.
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Market Indicators Point to Strong Potential for CAKE’s Price Growth
The market indicators suggest that CAKE’s upward trajectory could continue. The token’s market cap has risen to $910.59 million, marking a 2.8% increase, while its 24-hour trading volume has climbed to $98.39 million. This surge in trading activity signals strong investor confidence and is fueling the current price movement.
Moreover, PancakeSwap’s Total Value Locked (TVL) remains solid at $2 billion, showcasing continued user confidence in the platform’s liquidity. Technical indicators further support the bullish outlook. The MACD line is above the signal line, indicating a mild bullish trend, while the histogram is expanding, suggesting a potential continuation of the uptrend. The RSI stands at 57.28, suggesting a balanced market with no signs of being overbought.
Source: Tradingview
Looking to the future, analysts remain bullish on CAKE’s potential, with some projecting a price range between $5.50 and $5.83 by December 2025. This represents a potential upside of over 115% from its current price, offering investors who buy in now the chance to see substantial returns.
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