PancakeSwap’s native token, $CAKE , saw a 28-30% surge recently, driven by multiple bullish factors.

The key catalysts include:

1. Record Trading Volumes: PancakeSwap topped decentralized exchange (DEX) rankings with a seven-day trading volume of $21.2 billion, surpassing Uniswap. The 30-day trade volume hit $99.9 billion, boosting investor confidence in the platform’s growth. 

2. BNB Chain Ecosystem Developments: Binance’s former CEO Changpeng Zhao (CZ) announced major upgrades to the BNB Chain, such as sub-second block finality, gasless transactions, AI integration, and meme token support. These innovations created excitement around BNB-related tokens like CAKE.

3. Revenue-Sharing & Token Burns: PancakeSwap’s revenue-sharing program distributed 770,527 CAKE in rewards last year, while over 172,000 CAKE tokens were burned, reducing supply and increasing demand.

4. Technical Breakout: CAKE reached a long-term resistance trend line, following a bullish engulfing candlestick formation, suggesting further upward momentum.

With strong fundamentals and market momentum, CAKE’s rally may continue if these trends hold.