PancakeSwap (CAKE) Price Prediction 2024-2030: Will CAKE Price Hit $10 Soon?

• While CAKE can reach $6.50 by December 2024, the value could be bearish by 2026.
• The value of the token might hit $9.60 by 2027 as decentralized exchange adoption might have skyrocketed.
• CAKE’s price might hit $20 in 2030 but might not get close to its previously all-time high.

Cheap and more secure is not something you would regularly find in crypto. Despite the many challenges, projects are shipping out features to ensure that users can trade without any hiccups.

One of them is PancakeSwap (CAKE), a multichain decentralized exchange. Although PancakeSwap is not perfect, it tries to meet the demands of its users. In this article, you will learn everything there is to know about the project. Furthermore, we will discuss CAKE, its native cryptocurrency, and look at the price predictions from 2024 to 2030.

PancakeSwap (CAKE) Real Time Market Status

What is PancakeSwap (CAKE)?

PancakeSwap started as a decentralized exchange on the BNB Chain. With the protocol, users can swap tokens, bridge blockchains, stake, and access NFTs without any intermediary. But in the last few years, PancakeSwap has expanded and does not only support BEP-20 tokens.

Now, the protocol supports other token standards including Ethereum’s ERC-20 tokens. Some other chains PancakeSwap supports include Polygon, Arbitrum One, Aptos, and Base. However, this multichain capability would have been impossible without the introduction of PancakeSwap V3.

The upgrade from V2 to V3 ensured users could access lower trading fees and reduce slippage for swaps. It also offers the potential for traders to earn rewards from yield farming in CAKE tokens. Additionally, liquidity providers can earn good fees from high trading volumes.

PancakeSwap (CAKE) Current Market Status

As of this writing, the price of CAKE was $4.32. This represented an 11.32% increase in the last 24 hours. Its trading volume also increased by 28% as the value jumped to $193.08 million.

CAKE’s market cap was $1.04 billion, and at press time, was number 95 on the market cap standings. The token has a maximum supply of 450 million tokens. But those in circulation were about 234.13 million.

As a DeFi protocol, it is important to look at PancakeSwap’s Total Value Locked. According to data from DeFiLlama, the TVL of PancakeSwap was $2.31 billion. This value was still far from its all-time high of $6.81 billion in November 2021.

Another interesting thing about CAKE is that it is burned weekly. Therefore, the token is on its way to becoming a deflationary token. Currently, CAKE is listed on different exchanges. You can buy CAKE on Binance, Gate.io, KuCoin, Bybit, and many other exchanges

PancakeSwap (CAKE) Price Analysis 2024

CAKE’s price has been something to watch especially as it has increased by 61.88% in the last 30 days. On a Year-To-Date (YTD) basis, the performance of the token has been relatively impressive.

In this part of the article, Coin Edition analyzes CAKE using different indicators. This would allow you to have an idea of how the price might perform in the short term. Besides that, you would also get CAKE’s price prediction by December 2024 and the ones from 2025 to 2030.

PancakeSwap (CAKE) Price Analysis – Bollinger Bands

The Bollinger Bands (BB) on the 4-hour CAKE/USD chart showed high volatility around the token as the bands expanded. With this condition, CAKE might experience significant price fluctuations in the short term.

A highly bearish case could see the cryptocurrency fall as low as $3.59. This was because the upper band of the indicator tapped CAKE at $4.32.

As such, a retracement could be an option if traders decide to book profits. On the other hand, a surge in buying pressure could send the price higher, and $4.70 could be the next target.

PancakeSwap (CAKE) Price Analysis – Relative Strength Index (RSI)

Before the recent uptrend, CAKE’s price fell from $5.20 to $3.63 between March 14 and 19. Indications from the Relative Strength Index (RSI) showed that the momentum at that time was largely bearish as the reading tumbled.

As a result, CAKE hit an oversold reading of 29.69. At press time, the indicator has formed a positive divergence, suggesting that the token’s momentum could continue to remain bullish for the time being. Should this be the case, the value of CAKE might extend higher than $4.32.

PancakeSwap (CAKE) Price Analysis – Moving Average Convergence Divergence (MACD)

As of this writing, the Moving Average Convergence Divergence (MACD) was 0.072. This reading indicates increasing upward momentum. Furthermore, the 12 EMA (blue) had risen into the positive region and also crossed the 26 EMA (orange).

When this happens, it means that buyers are in control of the momentum while sellers lagged. However, CAKE might require the momentum to remain on the upside for the price to resist any form of selling pressure.

PancakeSwap (CAKE) Price Prediction 2024

In 2024, the price of CAKE is expected to rise more than its current value. On the daily timeframe, the 50-day EMA (blue) had crossed over the 200-day EMA (yellow). This crossover is termed a golden cross, and it is a bullish signal for the long-term outlook.

Coin Edition also observed that the 50 EMA was positioned at $3.49 while the 200 EMA was at $2.70. Since CAKE had risen above both levels, it is unlikely that the price would decline that much before this year ends. By the end of 2024, CAKE’s price prediction could be $6.50.

PancakeSwap (CAKE) Price Prediction – Resistance and Support Levels

Support and resistance zones are important things to note when analyzing a cryptocurrency. It also plays an important role in the price prediction. For CAKE, the 4-hour chart showed that bulls were able to spot support at $3.63.

Furthermore, bulls defended the region at the expense of bears who were looking for further downside. There was a resistance at $4.03. But CAKE cleared the path but might face another one at $4.36.

A rejection at 4.36 could force the price below $4.03. However, if bulls break through this barrier, CAKE’s value could ride all the way to $4.90 in the short term.

PancakeSwap (CAKE) Price Prediction 2025

CAKE’s potential in 2025 looks bullish considering how the token has performed since 2024 began. If the project’s team continues to burn tokens and demand for CAKE increases, the price prediction for 2025 could be $8.

PancakeSwap (CAKE) Price Prediction 2026

In  2026, CAKE might find it challenging to replicate in 2024 and 2025 performance. For most of the year, the value of the token might trade sideways. Hence the prediction for 2026 is $5.25.

PancakeSwap (CAKE) Price Prediction 2027

By 2027, Coin Edition expects the PancakeSwap community to have grown. Besides that, users of the decentralized exchange might have doubled as the project might have expanded to other chains. If this is the situation, the price of CAKE might hit $9.60 in 2027.

PancakeSwap (CAKE) Price Prediction 2028

The crypto market might again experience a bull cycle in 2028. As such, prices of altcoins are expected to increase, and CAKE might not left out. CAKE’s price prediction for 2028 is $11.

PancakeSwap (CAKE) Price Prediction 2029

The price of CAKE in 2029 might extend higher than what it might hit in 2028. Because of this, Coin Edition places the price prediction at $14.35.

PancakeSwap (CAKE) Price Prediction 2030

By 2030, many crypto users might have exited a lot of centralized exchanges, and this could be favorable for PancakeSwap and its native token. Hence, the price for the year could be $20.

PancakeSwap (CAKE) Price Prediction 2040

Between 2030 and 2040, CAKE must have experienced a lot of ups and downs. However, the price prediction for 2040 could see the cryptocurrency end the year on a high note. From our analysis, CAKE might reach $36.75 in 2040.

PancakeSwap (CAKE) Price Prediction 2050

The maximum price CAKE can hit in 2050 is $48.26. But that would also require a lot of buying pressure and hype around the fundamentals. However, there is a chance that the value might be lower than that. 

Conclusion

To conclude, PancakeSwap has offered crypto traders an option to use if they do not prefer centralized exchanges. However, the adoption of the protocol has slowed down in recent times. 

This has also spread to the price of CAKE which has been unable to revisit its all-time high Going forward, the value of CAKE might increase but this will still depend on the state of the crypto market and trending narratives.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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