With decentralized finance (DeFi) rising, PancakeSwap, one of the largest decentralized exchanges (DEXs), has been at the forefront of the revolution. Pancakeswap price has seen a strong advance over the past weeks. After setting a new swing low around $11 on the 20th of July, CAKE/USD gained more than 140 percent until resistance was found at $26.5 on the 26th of August.
In this price prediction, we shall take a closer look at the PancakeSwap price prediction. But before doing so, we shall first delve into unmasking what PancakeSwap is and how it functions to get a clear picture of what investors should expect with 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) built on the Binance Smart Chain (BSC).
It is the largest decentralized application (dApp) on the BSC, and it allows participants to switch tokens securely and effectively.
It offers a decentralized business experience while leveraging liquidity pools. Some stake BEP 20 tokens in the liquidity pools of corresponding tokens, and some depend on the liquidity pools to swap one BEP 20 token for another.
Those providing stake tokens or currency in the liquidity pools are referred to as liquidity providers, and they receive an interest depending on the number of tokens they stake in each pool.
The DEX has also included yield farming by allowing liquidity providers to stake Liquidity Provider tokens (LP tokens) in various LP token staking pools. This way, the liquidity providers earn an extra income in the form of LP staking rewards besides the interest earned for providing liquidity.
At the time of writing, the total value locked (TVL) on PancakeSwap was $5,553,354,984, according to Defistation.
History of PancakeSwap
PancakeSwap was launched on September 20, 2020. Founders found it better to name it after their favorite food, the pancake.
As an AMM, it does not depend on the presence of buyers and sellers to settle trades. Trades are processed automatically by a sophisticated algorithm using liquidity pools.
PancakeSwap(CAKE) price prediction history
PancakeSwap was listed on an exchange almost immediately after PancakeSwap was unveiled.
When it was unveiled in September 2020, the cake price was below $1, and it stayed below $1 until towards the end of January 2021, when it unleashed a bullish rally that till the end of April 2021.
Figure 1. PancakeSwap price chart by Coinmarketcap
It hit an all-time high price of $44.18 on April 30, after which there was a bearish retracement to about $11 in May 2021. It then traded between $11 and $20 until mid-July, when it started another bullish trend that continued even when writing this post.
At the time of writing this post, the average CAKE price was $24.63, with a 24 hours volume of $407,098,371 after a day drop of 10%.
PancakeSwap price Ichimoku cloud formation indicates a bearish trend reversal with consolidation. The bearish price structure of the last few months has formed false lower support and new Ichimoku cloud highs began on December 16th.
The strong bullish momentum is also confirmed by the Kijun Sen (red line).
PancakeSwap token supply, market capitalization forecast details and CAKE price prediction
218,446,106.13 CAKE tokens were in circulation at the time of writing, with a market cap of $5,412,977,573.
The market cap to total value locked (TVL) was estimated to be around 0.4751.
As of the writing of this CAKE prediction, CAKE is currently ranked at position 33 by Coinmarketcap.
PancakeSwap(CAKE) prediction 2021 – 2025
To assist traders investing in PancakeSwap with an outlook of the future of PancakeSwap, we shall look at the PancakeSwap predictions of the years 2021, 2022, 2023, 2024, and 2025 in detail (A five years prediction).
These CAKE’s price predictions are based on the USD price prediction since we shall be considering the exchange rate of CAKE against the US dollar. You will learn a great deal before you buy pancakes was.
PancakeSwap price prediction 2021
Most analysts forecast that CAKE will continue with the current bullish trend for the remainder of 2021 and will yield interest for those investing early in the rally.
Figure 2. PancakeSwap price forecast by Walletinvestor for the next few weeks
Walletinvestor financial advice, for example, forecast that the coin will hit a maximum price of about $42.534 by December this year and probably test a minimum price of $ 17.331 in October.
Figure 3. PancakeSwap price forecast by Walletinvestor
Another market analyst also projects a continued rise in CAKE price though slower than Walletinvestor forecast.
Figure 4. PancakeSwap forecast by Trading Beasts(CAKE price prediction)
According to Trading Beasts, the CAKE token is expected to hit a maximum of $27.290 in October. It projects that the cryptocurrency will hit a minimum price of $16.557. The analyst project the average PancakeSwap price will be $21.496.
In general, PancakeSwap (CAKE) price prediction found out that it trades at an average price of about $21 for the remainder of the year.
PancakeSwap price prediction 2022
Investors go ahead to continue predicting a further CAKE market price rise into 2022.
Trading Beasts PancakeSwap price prediction forecast that the coin price will hit a maximum of $39.115, while Walletinvestor predicts that it will hit a max of $69.406 and a minimum price of $15.222 by the end of 2022.
Figure 5. CAKE price prediction for 2022 by Trading Beasts
PancakeSwap prediction 2023
With the current hype around decentralized finance solutions like decentralized exchanges the likes of PancakeSwap, the price of PancakeSwap (CAKE) is projected to continue rising as long as the status quo remains.
Centralized exchanges have faced lots of criticism from users and financial regulators worldwide for interfering with users’ activities. But that has not been the case with decentralized exchanges yet.
According to their analysis, the price of the PancakeSwap(CAKE)token is expected to continue rising in 2023 to hit a maximum price of $58.125 by the end of December.
Figure 6. PancakeSwap(CAKE) forecast for 2023 by Trading Beasts
On the other hand, Wallet investor predicts that the price will hit a max of $96.316 by the end of 2023.
Although the above-quoted predictions by Wallet Investor and TradingBeasts seem to have different price prediction figures, both forecast that PancakeSwap will continue its current bullish trend into 2023. Therefore, remember to conduct your own research and don’t completely rely on these price predictions. However, we believe CAKE has a bright future and offers a great deal for your money.
PancakeSwap(CAKE) forecast for 2024
Besides continuing with a bullish trend, analysts forecast that the trend will be gathering additional momentum into 2024, with Walletinvestor predicting that the price of PancakeSwap token will hit $123.917 by the end of December 2024.
On the other hand, the platform forecast that the price will hit $71.136 by the end of 2023.
Figure 7. PancakeSwap(CAKE) price forecast for 2024 by Trading Beasts
PancakeSwap price prediction 2025
The prediction market, especially with the extremely volatile cryptocurrency market, is always important to look at what the future holds, especially for investors looking to purchase a cryptocurrency or traders speculating future price movements.
And while 2025 seems a bit far, with cryptocurrencies, there is nothing like a long period. Things happen too quickly that by 2025 investors will be wondering why they didn’t invest or trade PancakeSwap.
So, let’s look at what analysts say about PancakeSwap price in 2025.
The PancakeSwap price prediction for 2025 is pegged on the prediction that the current exponential growth of the DeFi industry will continue well into 2025.
Most market analysts forecast a continued rise in the CAKE price, with Walletinvestor predicting that the PancakeSwap price will hit a maximum of $150.897 by the end of 2025.
How to buy a CAKE
Being a young cryptocurrency within the crypto market, CAKE’s opportunities are not very many though exponential.
But one of the surest things is that since the PancakeSwap protocol is built on the Binance Smart Chain (BSC), CAKE is available on the Binance exchange against the likes of BNB and BUSD.
To buy the CAKE, you should visit a centralized exchange such as Binance, deposit some funds (either crypto or fiat depending on what is allowed), and then proceed to buy CAKE cryptocurrency if you deposited fiat currency or swapping if you deposited another cryptocurrency.
PancakeSwap Price Prediction FAQs
What does the PancakeSwap platform do?
PancakeSwap is a decentralized exchange (DEX) built on the Binance Smart Chain, and it allows users to swap (exchange) different BEP-20 tokens through liquidity pools.
What is CAKE used for in PancakeSwap?
CAKE is used for covering transaction fees, staking as well as providing liquidity.
Where can I trade PancakeSwap after purchasing it?
After buying the CAKE cryptocurrency, you can trade it on several centralized exchanges like 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?
Going by the above CAKE price predictions, PancakeSwap could be a good investment that could offer good returns for investors looking to add it into their crypto portfolios.
CAKE price prediction Conclusion
If you are a crypto trader or investor eyeing to invest in PancakeSwap, this price prediction is for you.
However, besides following the price prediction, it is also important to seek investment advice from reputable financial advisors who will help you determine the amount to invest and how long you should invest.
Short-term traders should also do some technical analysis to keep a close eye on the resistance level, closing price, middle bands, and the current price to speculate the price movement correctly. Also, consult for financial advice and do your own research before committing your money to an asset. There are a variety of technical indicators that traders can employ, including the moving averages indicator.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.