Bulls of PancakeSwap (CAKE) Gain Ground as Selling Pressure Weakens
PancakeSwap (CAKE) is trading in an upward trend.
The price of CAKE has surpassed the 50-day and 200-day moving averages, indicating a positive trend.
PancakeSwap's price analysis indicates that the price of CAKE is currently moving in an upward direction after overcoming a market weakness point. The price is trading above the 50-day and 200-day exponential moving averages on the daily time frame.
According to BscScan, the number of CAKE holders is increasing, suggesting positive momentum. On March 4, 2025, the number of coin holders reached 1,824,653, and it currently stands at 1,826,602. Furthermore, the number of token transfers has risen over the past three days. On March 14, the number of transfers was 26,175, which increased to 137,941. The data indicates that on-chain activity has increased over the past few days.
If the price of CAKE receives buyer support at the current level, it may experience a rise of 45% to 50% to reach a price of $4.00 in the coming weeks. Moreover, the immediate support level for the altcoin is about 13% below it, around $2.2164. The price movement of CAKE is notably more stable compared to other major digital assets.
According to CMC data, the price of CAKE is currently trading at $2.57, with a market cap of approximately $754.14 million.
$CAKE
