Will this lead to an increase in upward prices?
Coinbase Global Inc. (NASDAQ: COIN) has announced plans to list PancakesWap ($cake) in the near future. The cryptocurrency exchange added an ERC-20 version of cake to its roadmap for listing and highlighted that trading will open as soon as the specified pre-listing conditions are met. The imminent listing of cake on Coinbase follows notable regulatory clarity for the Binance ecosystem in the United States. As reported by Coinpedia, the U.S. SEC recently dropped its long-standing case against Binance and senior executives. Most importantly, the PancakesWap platform has recorded significant growth in the recent past, continuing to dominate DEX volume from BSC. In May, Pancakeswap reported a net trading volume of approximately $165.3 billion out of a total DEX volume on the BNB ecosystem of around $178.2 billion. Pancakeswap price signals a bullish breakout after the cake listing announcement on Coinbase, with the altcoin gaining about 1 percent to trade at approximately $2.44 on Wednesday, June 4, during late North American trading sessions. As a result, the mid-cap altcoin, with a fully diluted valuation of about $903 million and an average trading volume over 24 hours of about $131 million, indicated an imminent breakout from a multi-price consolidation. On the four-hour time frame, the price of cake has been consolidating in an ascending triangle since late February 2025. Significant resistance has been recorded above $2.87 after the price of cake was rejected more than four times in the past three months. With the MACD line on the four-hour timeframe preparing to cross the zero line, the price of cake is well-positioned to break through the resistance level around $2.9 and reach a short-term target of about $4.3. However, if the price of cake consistently closes below the applicable ascending logarithmic trend, a potential decline below two dollars becomes inevitable.
