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PancakeSwap has announced its 4th-gen DEX, rebranded as PancakeSwap Infinity. This upgrade introduces multiple pool types, hook-compatible smart modules, and also capital-efficient single-slot liquidity. With promises of lower trading fees and multi-chain support, the innovation has triggered a wave of optimism, especially surrounding the BNB Chain and CAKE, the platform’s native token.
Talking about CAKE price, it has surged 11.20% in a day, claiming the title of top gainer in the crypto market. Over the past month, it has recorded a 29.28% gain, sparking bullish anticipation among traders and investors, who are now monitoring the price trend. In this PancakeSwap (CAKE) price analysis, we give you the possible short-term targets.
At the time of press, CAKE is being sold on exchanges for $2.67. The price spike was significantly boosted by the impressive 202.85% surge in the 24-hour trading volume. The buzz also led to the market cap of the altcoin jumping to $849.77 million.
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Looking at the 1-D PancakeSwap price chart, it has recently broken out of a symmetrical triangle pattern. The breakout candle has also risen above the 9-day SMA. Continued momentum will lead to the CAKE price surging past its immediate resistance at $2.75, to conquer one at $2.95 before making a move toward $3.15. Contrarily, it could find support at $2.45. A tip off to the intraday traders would be to mark their stop loss at $2.42.
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