Key Takeaways:
- The Pancakeswap(CAKE) price closed the previous day’s trade at $4.14 with a market capitalisation of $576.35 million and a circulating supply of 139.03 million CAKE
- The CAKE price appears to be poised for a 25% upswing in the coming month and close the yearly trade on a bullish note
What is Pancakeswap(CAKE)?
Pancakeswap is a decentralized exchange built on BinanceChain, used specifically to swap BEP-20 tokens. It uses an automated market maker (AMM) model where trade is accomplished using a liquidity pool instead of order books. Much similar to Uniswap or SushiSwap, Pancakeswap is powered by its native token CAKE.
The platform’s unique feature is, that it provides liquidity directly from the liquidity providers by promoting transparency & eliminating middlemen. Moreover, any proposal for tokenomics or any changes to be done for the platform is carried out through voting by the community members or CAKE holders.
Additional Read: Pancakeswap vs Uniswap
Pancakeswap Price Analysis for September 2022
| Current Price | $4.09 |
| Market Cap | $582.42 million |
| Circulating Supply | 142.26 million |
| Max Supply | 750 million |
| Vol (24H) | $31.67 million |
| Change(24h) | +0.36% |
| Change (7D) | -0.49% |
| Change (30D) | -5.41% |
Additional Read: Top BNB Chain Tokens
PancakeSwap Price Prediction 2022
Pancakeswap (CAKE) Prediction Sept 2022
Pancakeswap price is trading within a bullish formation & the technicals suggest a breakout is fast approaching. With just a modest buying volume, the CAKE price may break above the structure & surge. However, it may face certain difficulty after surpassing $4.5 and hence may hover around $4.45 to $4.60 by the end of the monthly trade.
Pancakeswap (CAKE) Prediction Oct 2022
After a consolidated, but slightly bearish September, the price could rise high to test $5 but fear of rejection could prevail before testing these levels. Hence the CAKE coin may maintain a slow yet steady rise throughout October. The CAKE price may certainly test $5 but close the October trade with slightly plunged levels in between $4.3 to $4.8
Pancakeswap (CAKE) Prediction November 2022
While the market heads towards the yearly close, CAKE price may slightly increase its volatility and spike above $5. However, it may certainly face a minor bearish action that could be taken care off. The pancakeswap price may hover around $5.2 to $5.5 during the monthly close after marking highs around $5.8.
Will Pancakeswap Price Reach $6.12 by the end of 2022?
December has been historically bullish for a long time and hence the CAKE price is expected to maintain a firm upswing. While the highs beyond $8 could be on the cards but the bulls may get exhausted reaching $7. Therefore, by the end of the yearly trade, the CAKE price could trade around $5.8 to $6.2.
PancakeSwap Price Prediction 2023
Will Pancakeswap Price Reach $12 by December 2023?
The platform is expected to fasten its developments in the NFT space by unveiling the UI/UX upgrades. With better experiences on the cards, the CAKE price is also expected to be heavily impacted. Therefore, the CAKE coin price may surge beyond $10 during H1 2023 and may maintain a firm upswing ahead.
Further, after marking its presence close to $12, the bulls may get drained out & may face a slight pullback. However, the price may maintain a double-digit figure, in the wake of any pullback & close the yearly trade around $9.78 to $10.45
PancakeSwap Price Prediction 2024
Will CAKE Price Reach $15 by December 2024?
The Pancakeswap price is expected to close the 2023 trade on a bullish note. While the ATH is pretty distinct, the CAKE price is expected to increase. During the first 2 quarters, the CAKE price may slice through $13.36 resistance and test the levels above $15. The price is not expected to face any major hurdle here and could continue ascending towards the next target.
With an increase in volatility, the Pancakeswap price may also rise high beyond $18 but may certainly not make it close to $20. By the end of 2024, the CAKE price may settle around $16.5 to $17.9 while keeping the bullish momentum intact.
PancakeSwap Price Prediction 2025
Will Pancakeswap Price Reach $20 by December 2025?
The major developments carried out by the platform in recent times could have gained wide user acceptance in the coming days. Pancakeswap, which is currently one of the top DEX, eyes to expanding its services into Web 3 & NFT space. This may further pave way for a huge adoption.
Therefore, the roadmap of the project says it all, the CAKE coin could remain elevated in the higher time frame. Hence the interim pullbacks may be nullified or withstood under the huge influence of bulls. The native token CAKE may significantly gain significant bullish momentum and close 2025 trade between $15.30 & $17.84.
Pancakeswap (CAKE) Price Comparison Table (2017-2022)
| Year | End of Year Price | % Change |
| 2017 | NA | NA |
| 2018 | NA | NA |
| 2019 | NA | NA |
| 2020 | $0.62 | -40.08% |
| 2021 | $11.77 | +1776.59% |
| 2022 | $4.15* | -64.56%* |
*at the press time
PancakeSwap Price Technical Analysis
Source: Tradingview
- The Pancakeswap price is currently trading within a symmetrical triangle from nearly a month but yet to reach the peak of the consolidation
- Currently, the price is testing the upper resistance and facing a pullback that may drag the price lower but may hold above $4.
- The asset may continue consolidating around $4 until it reaches the apex of the consolidation and gains enough momentum may break through the resistance and hit the levels around $5 in the next couple of weeks.
Additional Read: Pancakeswap Technical Analysis
PancakeSwap Price Comparison with Binance Coin (BNB)
Source: Tradingview
- Binance Coin & Pancakeswap both work on the Binance Chain which records huge transactions among the other chains
- Both the assets maintained a similar trend until the beginning of September, where the CAKE price displayed more strength and decoupled
- While CAKE/USDT rose from the bottoms at -3.07% to reach the current levels at +10.43%, BNB/USDT dropped from +10% to reach the bottoms at +0.83%.
Additional Read: Binance Coin Price Prediction
CAKE Price Comparison with BTC (Correlation)
Source: Tradingview
- The Pancakeswap price with both the trading pairs is displaying huge bullish momentum while the CAKE/BTC appears stronger comparatively
- The recent price slash appears to not have impacted the CAKE/BTC price which continued to range high to reach the current levels at +30.79%
- On the other hand, the CAKE/USDT price after rebounding from the bottom at -3.25% is trading at +10.38% at the press time.
Additional Read: Bitcoin Price Prediction Weekly
FACTORS AFFECTING CAKE Price
- Pancakeswap recently launched a Bridge where-in the user can easily bridge in native assets from other chains to BNB Chain. The assets like USDT, USDC, BUSD & STG can be bridged from Ethereum, Avalanche, Polygon, Arbitrum, Optimism & Fantom Chains.
🌉 Launching PancakeSwap Bridge – a native asset cross-chain bridge, powered by Stargate
🐰 Easily bridge your funds to PancakeSwap/BNB Chain!
🎉 To celebrate this, at least 100 users who use PancakeSwap Bridge will win $20
👉Learn more: https://t.co/JsEoB7NGnN pic.twitter.com/s97P3uW6c6
— PancakeSwap 🥞 #BSC (@PancakeSwap) August 23, 2022
- The platform after conducting voting, is extending its support for the Wombat exchange’s Initial Farm Opening (IFO) which seeks to raise $1.2 million on Pancakeswap
WHERE & HOW TO BUY Pancakeswap (CAKE)
Buy Pancakeswap (CAKE) instantly on CoinDCX crypto app. All you need to do is follow the steps mentioned below:
- Download the CoinDCX App on your smartphone
- Register by entering all the required details on the CoinDCX App, available on Android and App Store.
- Once your profile is verified, fund your wallet and buy CAKE token
FAQs
What is Pancakeswap?
Pancakeswap is a decentralized exchange offering other benefits like farming & stacking that runs on BinanceChain
Is CAKE a good investment in 2022?
CAKE's price is undergoing a squeezed trend and appears to break out of consolidation very soon. Therefore can be considered for investment in 2022.
Will CAKE's price reach $6 in 2022?
Pancakeswap, in the last few months of 2022 could gear up and begin surging highs & hence by the end of the yearly trade, the CAKE price could trade around $5.8 to $6.2
What will be the Pancakeswap price by 2023?
The CAKE price may make it close to $11 but by the end of 2023 may face a slight pullback and close the yearly trade around $9.78 to $10.45.
What will be the Pancakeswap price by 2024?
Despite high volatility, the price is expected to gear up during the Q4. Hence, the price may settle around $12 .7 to $13.3 after reaching the yearly highs.
What will be the Pancakeswap price by 2025?
The native token CAKE may gain significant impact from the developments across the platform and close 2025 trade between $15.30 & $17.84. An extended bull run may also uplift the price beyond $20 and also test the next target around $22.
Related posts
Cardano Price Prediction 2024: Can the Chang Upgrade Trigger Rally to $1?
Cardano’s technical strength, and 2024 price predictions analyzed.
Sui Price Prediction 2024-2030 : Can SUI Price Touch $4 in 2025?
SUI price is struggling hard to lay down a strong bullish trend.
