PancakeSwap

Spot

Higher

Coin

<p>Last week <a href="https://www.thecoinrepublic.com/2025/03/17/pancakeswap-v2-the-top-dex-by-volume-rally-incoming-for-cake/">PancakeSwap</a> experienced a surge in volume which in turn led to a spike in CAKE demand. </p> 
<p>This translated into significant upside for the token but fast forward to today and the first wave of profit-taking is has kicked off.</p> 
<p>The PancakeSwap native token pulled off an impressive 102% upside from its lowest price point to recent peak so far this month. </p> 
<p>It peaked at $2.81 on Tuesday. Since then, it pulled back by a sizable margin. CAKE was down to $2.32 at press time, after 17.48% pullback from latest its local high. </p> 
<p>It was not yet overbought at its aforementioned peak, which suggests that the pullback was largely due to some profit-taking.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="1013" height="623" src="https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-621.png" alt="" class="wp-image-1081575" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-621.png 1013w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-621-300x185.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-621-768x472.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-621-150x92.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-621-696x428.png 696w" sizes="auto, (max-width: 1013px) 100vw, 1013px">
  <figcaption class="wp-element-caption">
   CAKE price action/ source: TradingView
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 </figure>
</div> 
<p>While Pancakeswap (CAKE) bears were dominant in the last 24 hours, it remained unclear whether the profit-taking would continue to pull it to a lower price tag. </p> 
<p>Nevertheless, the recent performance revealed some interesting findings that could offer insights into CAKE prospects in coming months.</p> 
<h2 class="wp-block-heading" id="h-cake-s-demand-in-the-last-2-months-outpaced-its-november-2024-demand"><strong>CAKE’s Demand in the Last 2 Months Outpaced its November 2024 Demand</strong></h2> 
<p>Derivatives activities heighted some noteworthy observations. For example, open interest just clocked a high of $93.29 million on Tuesday and previously surged to $98.44 million at its peak in February.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="250" src="https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-622-1024x250.png" alt="" class="wp-image-1081580" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-622-1024x250.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-622-300x73.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-622-768x187.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-622-150x37.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-622-696x170.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-622-1068x261.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-622.png 1332w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   CAKE open interest / source: Coinglass
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 </figure>
</div> 
<p>The aforementioned 2 peaks in open interest were notably higher compared to its highest peak in 2024 which occurred in December. </p> 
<p><a href="https://www.thecoinrepublic.com/2025/03/19/ethereum-news-pectra-upgrade-new-hoodi-testnet-timeline/">Derivatives volumes</a> also demonstrated a similar observation, confirming more activity in the segment.</p> 
<p>The surge in derivatives activity related to Pancakeswap could signal high appetite for investors, which could also indicate the possibility of a liquidation event. </p> 
<p>Spot demand was not quite in tandem, given that net inflows were relatively weaker compared to February.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="297" src="https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-623-1024x297.png" alt="" class="wp-image-1081585" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-623-1024x297.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-623-300x87.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-623-768x222.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-623-150x43.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-623-696x202.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-623-1068x309.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-623.png 1326w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   CAKE spot flows/ source: Coinglass
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 </figure>
</div> 
<p>In addition, there was a massive spike in spot outflows by roughly $10 million. This marks the highest daily spot outflows recorded in the last 10 months.</p> 
<p>CAKE long liquidations in the last 24 hours amounted to $1.42 million while short liquidations were less than half that amount.</p> 
<h2 class="wp-block-heading" id="h-can-strong-pancakeswap-volumes-support-a-higher-floor-price"><strong>Can Strong PancakeSwap Volumes Support a Higher Floor Price?</strong></h2> 
<p>The underlying cause of the latest hype around CAKE may offer insights into how things could play out for the token. </p> 
<p>The PancakeSwap DEX has been experiencing robust utility lately, hence the surge in appetite for CAKE.</p> 
<p>PancakeSwap ranked as the top DEX according to DeFiLlama. Its volume in the last 24 hours soared to $2.67 billion which was more than double the volume achieved by the runner-up. </p> 
<p>Both token volume and revenue were up on PancakeSwap, with daily levels recently surpassing over $1 million each.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="689" height="328" src="https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-624.png" alt="" class="wp-image-1081590" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-624.png 689w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-624-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2025/03/image-624-150x71.png 150w" sizes="auto, (max-width: 689px) 100vw, 689px">
  <figcaption class="wp-element-caption">
   PancakeSwap volume and revenue / source: DeFiLlama
  </figcaption>
 </figure>
</div> 
<p>The token volume and revenue surge confirms PancakeSwap’s surging activity. This is also no coincidence but rather a reflection of recent market dynamics.</p> 
<p>DeFiLlama data also revealed that DEX volumes this year surged to new highs. It even surpassed levels observed in the previous bull run. </p> 
<p>This means CAKE demand could surge higher if this trend continues to proliferate in the coming months.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2025/03/19/pancakeswap-cake-profit-taking-intensifies-despite-impressive-demand/">Pancakeswap (CAKE) Profit-Taking Intensifies Despite Impressive Demand</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Pancakeswap (CAKE) Profit-Taking Intensifies Despite Impressive Demand

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