PancakeSwap’s CAKE token recovered significantly, increasing 81% in the last ten days. With 25 million CAKE tokens valued at approximately 69 million USD acquired by whales, open interest surged 326%, reflecting strong trader confidence and bullish sentiment.
Currently priced at approximately 2.67 USD, CAKE faces a critical resistance level at 2.85 USD. A breakout above this could lead to prices nearing 3.00 USD. Conversely, failing to breach this level may cause a pullback toward 2.30 USD.
Leave a Reply