With the rise in decentralized funding (DeFi), PancakeSwap, one of the largest decentralized exchanges (DEXs), was at the forefront of the revolution. The pancakeswap price has risen sharply in the past few weeks. After making a new swing low at $ 11 on July 20th, CAKE / USD gained more than 140 percent until it found resistance at $ 26.5 on August 26th.
In this price prediction we take a closer look at the PancakeSwap price prediction. But before we do that, we’ll first look at what PancakeSwap is and how it works to get a clear picture of what investors can expect from the platform and its coin in the future.
PancakeSwap (CAKE) price prediction
As mentioned above, PancakeSwap is a DEX and an Automated Market Maker (AMM) based on the Binance Smart Chain (BSC).
It is the largest decentralized application (dApp) on the BSC and enables participants to exchange tokens safely and effectively.
It offers a decentralized business experience while leveraging liquidity pools. Some put BEP-20 tokens in the liquidity pools of the corresponding tokens, and some depend on the liquidity pools to exchange one BEP-20 token for another.
Those who provide equity tokens or currency in the liquidity pools are known as liquidity providers and receive interest based on the number of tokens they use in each pool.
The DEX has also added yield farming by allowing liquidity providers to stake Liquidity Provider (LP) tokens in different LP token staking pools. In this way, the liquidity providers earn additional income in the form of LP staking rewards in addition to the interest for the provision of liquidity.
At the time of writing, the Total Locked Out Value (TVL) of PancakeSwap, according to Defistation, was $ 5,553,354,984.
History of PancakeSwap
PancakeSwap was launched on September 20, 2020. The founders found it better to name it after their favorite food, the pancake.
As an AMM, it doesn’t depend on the presence of buyers and sellers to do business. Trades are automatically processed by a sophisticated algorithm that uses liquidity pools.
PancakeSwap (CAKE) price prediction history
PancakeSwap was listed on an exchange almost immediately after PancakeSwap was launched.
When it was unveiled in September 2020, the cake price was below $ 1 and stayed below $ 1 through late January 2021 when it sparked a bullish rally through late April 2021.
Figure 1. Coinmarketcap’s PancakeSwap price chart
It hit an all-time high of $ 44.18 on April 30, followed by a bearish retracement to around $ 11 in May 2021. It then traded between $ 11 and $ 20 through mid-July when it started another bullish trend that continued even then.
At the time of this writing, the average CAKE price was $ 24.63, with a 24-hour volume of $ 407,098,371 after a 10% daily decline.
The PancakeSwap price Ichimoku cloud formation indicates a bearish trend reversal with consolidation. The bearish price structure of the past few months has formed a false lower support and new Ichimoku cloud highs started on December 16th.
The strong bullish momentum is also confirmed by the Kijun Sen (red line).
PancakeSwap token offer, market capitalization forecast details and CAKE price forecast
At the time of writing, there were 218,446,106.13 CAKE tokens in circulation with a market cap of $ 5,412,977,573.
The total value locked (TVL) market capitalization was estimated at around 0.4751.
At the time of writing this CAKE forecast, CAKE is currently ranked 33rd by Coinmarketcap.
PancakeSwap (CAKE) forecast 2021-2025
To give traders investing in PancakeSwap an outlook on the future of PancakeSwap, we will take a detailed look at the PancakeSwap predictions for 2021, 2022, 2023, 2024 and 2025 (A fFive-year forecast).
CAKE’s price predictions are based on the USD price prediction as we take into account CAKE’s exchange rate against the US dollar. You will learn a lot before buying pancakes.
PancakeSwap price prediction 2021
Most analysts predict that CAKE will continue the current uptrend for the remainder of 2021 and will yield interest for those who invest at the start of the rally.
Figure 2. Walletinvestor’s PancakeSwap price forecast for the next few weeks
For example, financial consultancy Walletinvestor predicts the coin will hit a maximum price of around $ 42.534 by December this year and is likely to test a minimum price of $ 17.331 in October.
Figure 3. Walletinvestor’s PancakeSwap price forecast
Another market analyst is also forecasting a sustained increase in the CAKE price, albeit more slowly than forecast by Walletinvestor.
Figure 4. Trading Beasts’ PancakeSwap Forecast (CAKE Price Forecast)
According to Trading Beasts, the CAKE token is expected to hit a maximum of $ 27,290 in October. The cryptocurrency is forecast to hit a minimum price of $ 16.557. The analyst predicts the average PancakeSwap price will be $ 21.496.
In general, the PancakeSwap (CAKE) price prediction found it to trade at an average price of around $ 21 for the remainder of the year.
PancakeSwap price prediction 2022
Investors continue to forecast the CAKE market price to rise further through 2022.
Trading Beasts PancakeSwap’s price prediction predicts that the coin price will reach a maximum of $ 39.115, while Walletinvestor predicts that it will reach a maximum of $ 69.406 and a minimum price of $ 15.222 by the end of 2022.
Figure 5. Trading Beasts’ 2022 CAKE price prediction
PancakeSwap forecast 2023
With the current hype surrounding decentralized financial solutions such as decentralized exchanges like PancakeSwap, the price of PancakeSwap (CAKE) is expected to continue to rise as long as the status quo persists.
Centralized exchanges have received much criticism from users and financial regulators around the world for interfering with the activities of users. But that was not yet the case with decentralized exchanges.
According to their analysis, the price of the PancakeSwap (CAKE) token is expected to continue to rise in 2023, reaching a high of $ 58.125 by the end of December.
Figure 6. Trading Beasts’ PancakeSwap (CAKE) forecast for 2023
On the other hand, the wallet investor predicts that the price will hit a maximum of $ 96.316 by the end of 2023.
Although the above-cited predictions by Wallet Investor and TradingBeasts seem to have different price prediction numbers, they both predict that PancakeSwap will continue its current upward trend through 2023. So remember to do your own research and not rely entirely on these price predictions. However, we believe that CAKE has a bright future and offers a lot for your money.
PancakeSwap (CAKE) forecast for 2024
In addition to the continuation of the upward trend, analysts predict that the trend will gain additional momentum by 2024, with Walletinvestor predicting that the price of the PancakeSwap token will reach USD 123.917 by the end of December 2024.
On the flip side, the platform predicts that the price will hit $ 71.136 by the end of 2023.
Figure 7. Trading Beasts’ PancakeSwap (CAKE) price prediction for 2024
PancakeSwap price prediction 2025
The prediction market, especially the extremely volatile cryptocurrency market, is always important for looking to the future, especially for investors looking to buy a cryptocurrency or for traders speculating on future price movements.
And while 2025 seems a bit far, there is nothing like a long period of time with cryptocurrencies. Things are happening too quickly that by 2025 investors will wonder why they didn’t invest or trade PancakeSwap.
So let’s take a look at what analysts are saying about the PancakeSwap price in 2025.
The PancakeSwap price prediction for 2025 is tied to the prediction that the current exponential growth of the DeFi industry will continue well into 2025.
Most market analysts predict the CAKE price will continue to rise, with Walletinvestor predicting the PancakeSwap price will hit a maximum of $ 150.897 by the end of 2025.
How to buy a CAKE
As a young cryptocurrency in the crypto market, the possibilities of CAKE are not very great, albeit exponential.
But one of the safest things is that CAKE is available on the Binance exchange against BNB and BUSD as the PancakeSwap protocol is based on the Binance Smart Chain (BSC).
To buy the CAKE, you should visit a central exchange like Binance, deposit some funds (either crypto or fiat, whichever is allowed), and then buy CAKE cryptocurrency if you have deposited fiat currency, or swap if You have deposited another cryptocurrency.
If you are a crypto trader or investor looking to invest in PancakeSwap, this price prediction is for you.
In addition to predicting the price, however, it is also important to seek advice from reputable financial advisors who will help you determine the amount to invest and how long to invest.
Short term traders should also do some technical analysis to keep an eye on the resistance level, closing price, middle bands, and current price in order to correctly speculate price movement. Also, reach out to a financial adviser and do your own research before putting your money on an asset. There are a variety of technical indicators that traders can use, including the moving average indicator.
frequently asked Questions
What does the PancakeSwap platform do?
PancakeSwap is a decentralized exchange (DEX) based on the Binance Smart Chain that enables users to swap (exchange) various BEP-20 tokens via liquidity pools.
What is CAKE used for in PancakeSwap?
CAKE is used to cover transaction fees, staking and the provision of liquidity.
Where can I trade PancakeSwap after buying it?
After purchasing the CAKE cryptocurrency, you can trade it on multiple centralized exchanges such as Binance and Kucoin and earn rewards as a liquidity pool provider and its liquidity provider tokens on the LP staking pools on PancakeSwap.
Is PancakeSwap a Good Investment?
Based on the CAKE price predictions above, PancakeSwap could be a good investment that could offer good returns to investors looking to add it to their crypto portfolios.
Disclaimer of liability. The information provided does not constitute trading advice. Cryptopolitan.com assumes no liability for investments made on the basis of the information provided on this page. We strongly recommend independent research and / or the advice of a qualified professional before making any investment decisions.