PancakeSwap Price- PancakeSwap Surges 46% While Bitcoin Dips

PancakeSwap Price: What’s Next for CAKE?

PancakeSwap Price– PancakeSwap (CAKE) has experienced a notable 46% increase in value over the past week, while Bitcoin (BTC) has declined by 1.48%. This performance suggests a potential shift in investor interest toward decentralized exchanges (DEX), with CAKE showing promising signs of growth.

Unlike Bitcoin and Ethereum, which have a strong market correlation, CAKE has a near-zero correlation with these major assets. However, it does have a +0.79 correlation with Litecoin (LTC), which recently saw a breakout from a two-year range. This suggests that PancakeSwap is gaining momentum on its own, independent of traditional cryptocurrencies.

Key Metrics Indicate Growth for PancakeSwap

PancakeSwap’s performance is further supported by rising trading volume. In February 2024, the 24-hour trading volume steadily increased, reaching $6.34 billion on February 13. Additionally, the number of transactions per day has been on the rise, demonstrating increased user engagement with the DEX.

Despite a decline in active addresses since March 2024, PancakeSwap’s recent price gains have shown strong conviction, with high buying volumes contributing to its bullish momentum. The $2.16-$2.47 region is considered a support zone, and moves below this range are likely to be challenging due to the large number of holders in this price range.

Price Action and Fibonacci Analysis Suggests Further Upside Potential

PancakeSwap’s price action indicates a bullish shift after breaking above the $2.01 level. This break from a series of lower lows since the start of 2025 has created an optimistic outlook. Additionally, the Fibonacci retracement levels show that the previous downward move has almost been fully retraced. As CAKE pushes upward, the next key bullish targets are $3.35 and $4.05.

In conclusion, PancakeSwap’s recent performance and technical indicators show promising signs of continued growth, making it an intriguing asset to watch.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.