- Bullish Pancake Swap (CAKE) price prediction ranges from $2.495 to $5.685.
- Analysis suggests that the CAKE price might reach above $50 soon.
- CAKE’s bearish market price prediction for 2022 is $2.495.
Aside from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and get experience with new cryptocurrencies. Pancake Swap (CAKE) is one of them.
PancakeSwap (CAKE) is the most popular decentralized exchange on the BNB Chain. PancakeSwap allows you to trade directly from your wallet without using a centralized exchange. On this exchange, you can swap BEP-20 tokens, stake CAKE in Syrup Pools, lend and offer liquidity on the automated market maker (AMM), participate in IFOs (Initial Farm Offerings), engage in perpetual trading, and buy or sell NFTs via the NFT Marketplace.
If you are interested in the future of CAKE and want to know its predicted value for 2022, 2023, 2024, 2025, and 2030, keep reading!
What Is Pancake Swap?
PancakeSwap is a decentralized finance application that allows users to trade tokens while generating liquidity through farming and earning fees. It is a decentralized exchange for trading BEP20 tokens on Binance Smart Chain. PancakeSwap utilizes an automated market maker concept in which customers trade against a liquidity pool. These pools are populated by users who deposit funds into the pool in exchange for liquidity provider (LP) tokens.
PancakeSwap also allows users to farm extra tokens such as CAKE and SYRUP. Users can deposit LP tokens on the farm and receive CAKE as a reward. PancakeSwap enables users to trade BEP20 tokens, providing liquidity to the exchange and earning fees, staking LP tokens to create CAKE, staking CAKE to make more CAKE, and staking CAKE to acquire tokens from other projects.
PancakeSwap operates on an automated market maker approach, which means there are no order books, and relies on liquidity pools instead. Users can farm LP tokens and stake their CAKE to win rewards by adding their tokens to the liquidity pool. They can also gamble using lotteries and non-fungible tokens.
On PancakeSwap, users can use CAKE to enter a lottery. Each lottery session has a six-hour duration. A single ticket costs 10 CAKE and contains a random combination of four numbers ranging from 1 to 14; like the jackpot, which is equivalent to 50% of the total lottery pool, the numbers on your ticket must match all four winning numbers.
Users can also earn non-fungible tokens, which they can exchange for CAKE or keep in their wallet. PancakeSwap can be safely held in wallets linked to the Binance Smart Chain. MetaMask, TrustWallet, TokenPocket, and WalletConnect are among them.
Pancake Swap (CAKE) Current Market Status
According to CoinMarketCap, Pancake Swap (CAKE) is hovering at $3.84 at the time of writing, with a total of 148,785,482 CAKE in circulation. CAKE has a 24-hour trading volume of $51,583,519.07, with a 39.19% increase. And during 24 hours, the price of CAKE increased by 2.68%.
The most popular exchanges to trade Pancake Swap (CAKE) are Binance, BTCEX, ByBit, BingX, and MEXC. Let’s continue with our CAKE price research for 2022.
Pancake Swap (CAKE) Price Analysis 2022
Currently, CAKE ranks 68th on CoinMarketCap’s list of the biggest cryptocurrencies by market capitalization. Will CAKE’s most recent improvements, additions, and modifications help its price rise? First, let’s focus on the charts in this article’s CAKE price forecast.
Pancake Swap (CAKE) Price Analysis – Keltner Channel
When volatility bands are positioned on either side of an asset’s price, it is possible to determine the direction of a trend with the help of the Keltner Channel. The price of Pancake Swap (CAKE) can be predicted using the Keltner Channel indications for CAKE/USDT. The price is in the first half of the channel, meaning that people are buying CAKE rather than selling. Even after establishing a new trend, it is often smart to wait for a downturn or a better entry point to improve the reward-to-risk ratio.
Pancake Swap (CAKE) Price Analysis – Relative Strength Index
In technical analysis, the relative strength index (RSI) is a momentum indicator. The RSI examines the speed and amplitude of a security’s recent price swings to determine if it is overvalued or undervalued. The RSI value of the 1-Day chart is 56.59. RSI above 50 indicates that people are buying Pancake Swap, hoping it will break out of the current turbulence and go bullish.
Pancake Swap (CAKE) Price Analysis – Moving Average
Above is a daily chart of Pancake Swap (CAKE) 200-day and 50-day Moving Averages (MAs). Looking at the chart above, CAKE is now running sideways. The CAKE 50-day MA is below the 200-day MA (long-term), indicating that the market is entirely bearish.
However, the distance between the two moving averages is wide. Since the candlesticks are below 200-day MA, we can observe that the selling pressure is still going on and unable to reverse the trend.
Pancake Swap (CAKE) Price Prediction 2022
By looking at the daily chart of CAKE/USDT, the CAKE price was swinging from $2.589 to $4.663 after going to its the lowest point of the month at $2.495. Bouncing back from the support level, CAKE is now in a bear flag and going inside it. We can expect the market to break out from the flag soon.
Meanwhile, our long-term CAKE price prediction for 2022 is bullish since it cannot break the support level. We can expect CAKE to reach $5.685 this year.
Pancake Swap (CAKE) Price – Resistance and Support Levels
The chart above shows that the price of CAKE has decreased in the past few months.
Moreover, the price of CAKE has been up by 7.23% in the past 24 hours after a slight decrease during the week. If this continues, CAKE might keep running bulls, breaking its $4.755 resistance 1 level and eventually moving higher to the $5.219.
If CAKE cannot break the $4.755 resistance 1 level, the bears may seize control and dethrone CAKE to a downtrend stance. In simple terms, the price of CAKE might fall to almost $2.695, indicating a negative signal from the previous support level.
Pancake Swap (CAKE) Price Prediction 2023
If Pancake Swap (CAKE) ends at $6 or more in 2022, this will signal investors that the effect of the recent crypto winter is over. This is because the price is above the current 90-day high price of CAKE, which stands at $4.11, at the time of writing. We expect the CAKE price to rise to $8.377 by the end of 2023.
Pancake Swap (CAKE) Price Prediction 2024
The cryptocurrency market is known to repeat history, and most cryptocurrencies follow the Bitcoin trend. With 2024 as the year of the Bitcoin halving, there will be many sentiments toward the market, which is always bullish. We can expect the price of Pancake Swap (CAKE) to react positively to the news and trade at around $11.866 by the end of 2024.
Pancake Swap (CAKE) Price Prediction 2025
The effect of any Bitcoin correction is experienced in the following year from recent history. If CAKE ends in 2024 for $12 or more, we can expect the price of CAKE to grow in 2025. This could make CAKE trade at $17 or more in 2025, considering investors will be bullish.
Pancake Swap (CAKE) Price Prediction 2026
With the rise in cryptocurrency adoption in the mainstream, we can expect a possible market reversal in 2026 to have little impact on the recent gains in the price of CAKE. Hence, Pancake Swap could end in 2026 at around $26 or more.
Pancake Swap (CAKE) Price Prediction 2027
The most bearish market is followed by market consolidation in the next year. If the year 2026 turns out to be bearish for CAKE, we could expect the market to stabilize in 2027 and even trade higher. Hence, it is possible to see CAKE trade at around $62 in 2027.
Pancake Swap (CAKE) Price Prediction 2028
Pancake Swap has a high possibility of trading above its 2025 price prediction of $79 in 2028 due to the Bitcoin halving. With the powerful sentiment of investors to buy more cryptocurrencies, a buy pressure could be seen in the market, which will make CAKE trade at around $85 in 2028.
Pancake Swap (CAKE) Price Prediction 2029
Since the most impact of a bullish sentiment resulting from Bitcoin halving is mainly experienced in the coming year. We can expect the price of CAKE to break more psychological resistance and trade around $94.087 by the end of 2029.
Pancake Swap (CAKE) Price Prediction 2030
The impact of cryptocurrency adoption could stabilize the market by 2030, sustaining the bullish gains of the previous years. Hence, we can expect the price of CAKE to trade above $115 by the end of 2030.
As said above, it may reach over $500 if investors have decided that CAKE is a good investment along with mainstream cryptocurrencies.
PancakeSwap is a decentralized finance application that allows users to trade tokens while generating liquidity through farming and earning fees. It is a decentralized exchange for trading BEP20 tokens on Binance Smart Chain. PancakeSwap utilizes an automated market maker concept in which customers trade against a liquidity pool. These pools are populated by users who deposit money into the pool in exchange for liquidity provider (LP) tokens.
Like other digital assets in the crypto world, CAKE can be traded on many exchanges. Binance, BTCEX, ByBit, BingX, and MEXC are currently the most popular cryptocurrency exchanges for trading CAKE.
Since CAKE provides investors with several opportunities to profit from their crypto holdings, it seems to be a good investment in 2022. Notably, CAKE has a high possibility of surpassing its current ATH in 2027.
In terms of active crypto assets, CAKE is one of the few that continues to rise in value. As long as this bullish trend continues, CAKE might break through $26 and reach as high as $50. Of course, if the current market favoring crypto continues, it will likely happen.
As one of the fastest-rising cryptocurrencies, CAKE is expected to continue its upward trend. We may also conclude that CAKE is an excellent cryptocurrency to invest in this year, given its recent partnerships and collaborations that have improved its adoption.
The lowest CAKE price is $0.0002318, attained on September 29, 2020, according to CoinMarketCap.
CAKE was launched in September 2020.
PancakeSwap was co-founded by the pseudonymous Chef Hops.
The maximum supply of CAKE is 750,000,000 CAKE.
CAKE can be stored in a cold wallet, hot wallet, or exchange wallet.
CAKE price is expected to reach $6 by 2023.
CAKE price is expected to reach $11.866 by 2024.
CAKE price is expected to reach $17 by 2025.
CAKE price is expected to reach $26 by 2026.
CAKE price is expected to reach $62 by 2027.
CAKE price is expected to reach $85 by 2028.
CAKE price is expected to reach $94 by 2029.
CAKE price is expected to reach $115 by 2030.
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.