PancakeSwap (CAKE) Token Price Records a Sudden 17% Surge
On Friday, March 21st, the crypto market witnessed low volatility trading evidenced by the neutral candle formation in Bitcoin. The overhead selling pressure in these top assets continues to prolong the correction trend in the altcoin market. However, the PancakeSwap token price records a sudden 17% surge following its growth in DEX revenues and training volume. Is the CAKE price ready to break out to $5?
The cryptocurrency market displayed low volatility on Friday, March 21, as evidenced by the neutral candle formation in Bitcoin. Overhead selling pressure in these top assets continues to prolong the correction trend in the altcoin market.
However, the PancakeSwap token price records a sudden 17% surge
Key Highlights:
PancakeSwap Tops DEX Rankings with Nearly $2B Trading Volume
PancakeSwap has emerged as the top-performing decentralized exchange (DEX), recording a staggering $1.99 billion in 24-hour trading volume. This places it at the helm of the DEX ecosystem, showcasing its dominance as it leads the market during a period of volatility.
Earlier this week, NameCoinNews also highlighted PancakeSwap’s dominance in DEX Revenue as it reported a 24-hour fee of $5.49 million, significantly outperforming its close competitors like Uniswap, Raydium, Meteora, Orca, etc.PancakeSwap’s stellar performance has doubled the value of its native CAKE token, which has surged from $1.37 to $2.75 in the past two weeks. Consequently, the asset market cap surged to $809.2 Million.
Double-Bottom Formation Signals Rally to $5
In the daily time frame chart, the Pancakeswap coin shows the formation of a double bottom pattern at the base support of $1.4. Generally, the chart setup shows two price reversals in a ‘W’ shape, indicating a high demand pressure from the bottom.
Currently trading at $2.67, the CAKE price is 10% short from an upside breakout of $3-$2.95 neckline resistance. A potential bullish crossover between the fast-moving EMAs (20, 50, 100, and 200) should bolster the aforementioned breakout, and pave the way for higher recovery.
Theoretically, the post-breakout rally covers a distance equal to the spread between the bottom support to the neckline. If the pattern holds, this altcoin could rally 62% and challenge major resistance at the $4.8-$5 region.
Conversely, if the sellers continue to defend $3 psychologically, the PancakeSwap price could prolong the current consolidation till March end.
Also Read: Illegal Exchanges Face Sanctions in South Korea’s Crypto Crackdown
The above is the detailed content of PancakeSwap (CAKE) Token Price Records a Sudden 17% Surge. For more information, please follow other related articles on the PHP Chinese website!

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

Notepad++7.3.1
Easy-to-use and free code editor

SublimeText3 Chinese version
Chinese version, very easy to use

Zend Studio 13.0.1
Powerful PHP integrated development environment

Dreamweaver CS6
Visual web development tools

SublimeText3 Mac version
God-level code editing software (SublimeText3)

Hot Topics

Pi Network recently held PiFest 2025, an event aimed at increasing the token's adoption. Over 125,000 sellers and 58,000 merchants participated

The crypto market continues to face turbulence, with Cardano (ADA) dropping 12% to $0.64, prompting concern across the altcoin sector.

OKX is a global digital asset trading platform. Its main functions include: 1. Buying and selling digital assets (spot trading), 2. Trading between digital assets, 3. Providing market conditions and data, 4. Providing diversified trading products (such as derivatives), 5. Providing asset value-added services, 6. Convenient asset management.

Ethereum (ETH) price edges toward resistance, Tether news reveals a €10M media deal, and BlockDAG reaches new milestones with Beta Testnet and growing adoption.

“Notorious nearly never happened. You want the real story? The McGregor story could've been about the lad who never left Dublin. I manifested greatness…”

With crypto gaining traction again, three names are catching serious attention—Kaspa (KAS), Dogecoin (DOGE), and BlockDAG (BDAG)

The company behind the popular USDC stablecoin announced today that it has filed an S-1 registration statement with the U.S. Securities and Exchange Commission for an initial public offering.

Ever wondered what makes meme coins soar to the moon and capture the imagination of millions? From massive returns to viral online communities