Key Takeaways
What’s driving PancakeSwap’s recent rally?
Darling CAKE.PAD sashayed onto the scene, burning 35.96 million CAKE to trim the crowd, and the week sashayed to a cheeky 78% gain. A little deflation with a bow, and a lot of glitz on the charts. 🔥🍰
Where could CAKE head next?
Should it waltz above 4.40 dollars, the glittering path to 11 might open, buoyed by rising DEX volume and deflation vibes. A dash of fate, a dollop of luck. 💃📈
PancakeSwap [CAKE] continued its bullish charge, rising by over 14% in the last 24 hours and posting 78% weekly gains. The surge mirrored the growing strength of the Binance Smart Chain [BSC] ecosystem.
Why did CAKE surge over the week?
PancakeSwap’s rise has been driven mainly by the launch of CAKE.PAD, which replaced its previous model, IFO. The platform now burns all participation fees, directly reducing the total circulating supply – very haut monde, darling.
Over the past week, about 9% of the total supply, representing 35.96 million CAKE, had been burned. The total burns reached 37.21 CAKE, taking the year-to-date (YTD) deflation rate to 5.57%.
On top of that, Social Sentiment reached its highest level in more than a year.
LunarCrush recorded 112,139 mentions, down slightly from the weekly high of 116K, but still showing a 74% weekly and 15% daily uptick in activity.
DEX volume frenzy
The collaboration between PancakeSwap and Coinbase’s Base chain has also fueled this surge. Weekly DEX Volume on BSC hit $11.56 billion, while Base contributed $1.17 billion, according to DeFiLlama.
On the protocol front, PancakeSwap’s AMM V3 dominated with $11.88 billion in trades-far ahead of competitors that stayed near $1 billion or lower.
The memecoin season on BNB has attracted significant liquidity to the protocol. Binance founder CZ has publicly supported building on the BNB Chain, helping transform it from a simple meme-trading platform into a broader ecosystem.
CZ acknowledged the trend, stating:
“#BNB meme szn.”
With that in mind, the price looked promising despite bears posing a threat of breakdown. A dash of swagger, a pinch of suspense, a very Coward moment indeed. 😏
Can CAKE sustain this breakout?
CAKE has broken above a descending trendline that capped its price since the 2021 highs on the weekly chart. This move followed a year-long consolidation within a triangle, signaling a potential trend reversal – opera-gloves on, darling, the act may continue.
Post-breakout, the token met resistance near $4.40, a zone tested several times since 2023.
A decisive close above this level could open the path toward $11, CAKE’s next liquidity pocket, while rejection may push the price back to the $3.20-$2.90 range.
The broader structure remains constructive, with higher lows forming and bullish momentum strengthening. Still, the $4.40 resistance will determine whether this breakout evolves into a sustained uptrend or stalls again. Bravo for the theatrics, if nothing else. 🎭
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2025-10-08 21:34