PancakeSwap

Dogecoin

Read

Coin

<p>The cryptocurrency CAKE, native to the popular PancakeSwap decentralized exchange, has seen a notable price spike lately. Analysts weigh in on what’s driving the pump and what to expect next after the over 50% surge.</p>
<h2 class="wp-block-heading" id="promising-breakout">Promising Breakout</h2>
<p>According to CryptoJones, the <a href="https://twitter.com/CryptoJones2011/status/1720724643965809011?t=YQarAlpCaMuWjoKzMq46rQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">recent breakout</a> in CAKE looks promising, with the price trajectory continuing upward. While there is still a ways to go to revisit old highs, CryptoJones believes the partnerships and developments coming from PancakeSwap bode well for further momentum.</p>
<p>In another tweet, CryptoJones points to CAKE’s deflationary tokenomics and PancakeSwap’s dominance as a leading DEX on Binance Smart Chain as key reasons to keep buying the token. The platform’s growth continues attracting users and activity.</p>
<h2 class="wp-block-heading" id="retracement-before-more-upside">Retracement Before More Upside</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="591" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-1024x591.png" alt="" class="wp-image-369890" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-1024x591.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-300x173.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-767x443.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-1536x887.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-2048x1183.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-260x150.png 260w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-100x58.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-606x350.png 606w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-100-788x454.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-100.png 1434w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Analyzing the price chart, Binance Master <a href="https://twitter.com/master_binance/status/1720727320875663468?t=nqfSFmboQVBrY491l0wdBg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">sees</a> potential for some retracement after the 50%+ spike, which could offer an opportunity before more upside. But the overall downtrend appears to have reversed, so pullbacks could be a chance to get in before CAKE pushes much higher past $2.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/crypto-lawyer-explains-why-ripple-is-not-going-to-abandon-xrp/" target="_blank" rel="noopener noreferrer nofollow">Crypto Lawyer Explains Why Ripple ‘Is Not Going to Abandon XRP’</a></li>
 <li><a href="https://captainaltcoin.com/get-rich-with-this-brand-new-meme-coin-thats-taking-the-market-by-storm/" target="_blank" rel="noopener noreferrer nofollow">Get Rich With This Brand-New Meme Coin That’s Taking the Market by Storm</a></li>
 <li><a href="https://captainaltcoin.com/a-weekly-close-above-this-channel-top-will-trigger-massive-buys-for-dogecoin-doge/" target="_blank" rel="noopener noreferrer nofollow">A Weekly Close Above This Channel Top Will Trigger Massive Buys for Dogecoin (DOGE)</a></li>
</ul>
<h2 class="wp-block-heading" id="conclusion">Conclusion</h2>
<p>CAKE’s strong fundamentals as the native token of PancakeSwap seems to be driving renewed interest in the previously beaten-down token. Analysts are now anticipating more upside after the initial 50% breakout, which could take CAKE to retest old highs. Traders may want to watch for retracements as potential entry points before the next leg up.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-cake-pumping-this-is-what-to-expect-after-pancakeswaps-50-spike/" rel="noopener noreferrer nofollow">Why Is CAKE Pumping? This Is What to Expect After PancakeSwap’s 50% Spike</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is CAKE Pumping? This Is What to Expect After PancakeSwap’s 50% Spike

Table of Contents

CaptainAltcoin

Other articles published on Nov 4, 2023

Can Chainlink (LINK) Reach $17.74 After a Slight Correction?

Coinbase’s sweepstakes legal battle takes a new twist

Uniswap V3 User Loses $700,000 in Just a Second Due to a Mistaken Transaction!

What’s Next for Ripple’s XRP? Is Price Headed for Greater Heights or a Dip?

Bitcoin Aims For $204K in the Next Bull Cycle: Technical Analyst

BTC, ETH, BNB and ADA Price Analysis for November 4

Join our free newsletter for daily crypto updates!