PancakeSwap Price Prediction 2023-2032: Is CAKE Set to Rally?
1 PancakeSwap Price Prediction 2023-2032 2 How much is CAKE worth? 3 PancakeSwap (CAKE) Overview 3.1 How is PancakeSwap Exchange different? 3.2 What Is PancakeSwap (V2)? 3.3 PancakeSwap in the NFT Market 3.4 Latest Partnerships 3.5 What’s in store for CAKE? 4 PancakeSwap Price History 5 PancakeSwap Technical Analysis 6 PancakeSwap Price Predictions by Cryptopolitan 6.1 PancakeSwap Price Prediction 2023 6.2 PancakeSwap Price Prediction 2024 6.3 PancakeSwap Price Prediction 2025 6.4 PancakeSwap Price Prediction 2026 6.5 PancakeSwap Price Prediction 2027 6.6 PancakeSwap Price Prediction 2028 6.7 PancakeSwap Price Prediction 2029 6.8 PancakeSwap Price Prediction 2030 6.9 PancakeSwap Price Prediction 2031 6.10 PancakeSwap Price Prediction 2032 6.11 PancakeSwap Price Prediction DigitalCoinPrice 6.12 PancakeSwap Price Prediction by PricePrediction.net 6.13 PancakeSwap Price Prediction by CoinCodex 7 PancakeSwap Price Prediction by Market Experts 8 Conclusion
PancakeSwap Price Prediction 2023-2032
- CAKE Price Prediction 2023 – up to $5.43
- CAKE Price Prediction 2026 – up to $17.03
- CAKE Price Prediction 2029 – up to $52.94
- CAKE Price Prediction 2032 – up to $158.93
With decentralized finance (DeFi) rising, PancakeSwap, one of the largest decentralized exchanges (DEXs), has been at the forefront of the revolution. The future of the CAKE cryptocurrency will depend on using the PancakeSwap exchange. The coin’s value will also depend on future sentiment on the broader crypto markets, among other factors. CAKE token is at the heart of the PancakeSwap ecosystem. Buy it, win it, farm it, spend it, stake it… heck, you can even vote with it!
At the closing of 2022, the PancakeSwap network has regularly incorporated distinctive features that encourage traders and investors to use the platform. For instance, the PancakeSwap platform released PancakeSwap V2, which provides around 1,426 token pairs for DEX users to trade.
Once rated as the best-performing DEX of 2021, it started its downslide in August 2022 but rallied in the last two months, regaining 22% of its value. We shall first look at what PancakeSwap is and how it functions to get a clear picture of what investors should expect from the platform and its coin in the future.
How much is CAKE worth?
Today’s PancakeSwap price is $3.68 with a 24-hour trading volume of $55,541,090. PancakeSwap is up 0.93% in the last 24 hours. The current CoinMarketCap ranking is #74, with a live market cap of $697,140,306. It has a circulating supply of 189,324,013 CAKE coins and a max. supply of 750,000,000 CAKE coins.
PancakeSwap (CAKE) Overview
PancakeSwap is a Decentralized Exchange (DEX) and an automated market maker (AMM) built on the Binance Smart Chain (BSC).
- PancakeSwap is the BSC’s largest decentralized application (dApp), allowing participants to switch tokens securely and effectively.
- The Exchange 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 called liquidity providers. 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.
How is PancakeSwap Exchange different?
Whereas centralized exchanges like Coinbase and Binance (which were banned in the UK in 2021) are run by a single company, one can trade on a DEX without an intermediary. Like most decentralized finance (DeFi) activity to date, most DEXs are based on Ethereum. PancakeSwap aims to compete with Ethereum by providing lower fees and faster transactions, among other features.
On 26 January, PancakeSwap announced its latest Initial Farm Offering (IFO) format: IFO 3.1 “with the brand new private sale allocation, and the new IFO Syrup pool,” which will “address some of the issues raised by the community and also generate value for our NFT holders.”
What Is PancakeSwap (V2)?
PancakeSwap (V2) allows BEP-20 token swaps on the BNB Chain. The exchange employs an automated market maker (AMM) model, allowing users to trade against a liquidity pool. You can become a liquidity provider and receive LP tokens, which entitle users to a share of the exchange’s trading fees.
PancakeSwap in the NFT Market
Cake launched its NFT market campaign in October 2021. However, this is the first step in the core of the PancakeSwap world. PancakeSwap achieved a huge volume on only one NFT collection at the launch time.
Also, PancakeSwap launched Pancake Squad in October. It is essential to know that Pancake Squad is a brand-new generative collection of 10,000 different NFTs. Due to this innovation, PancakeSwap’s NFT market trading volume increased to 102,208 BNB ($56.8M) in the same month, with 2,044 BNB used to buy back and burn Cake.
Latest Partnerships
Furthermore, 25 projects joined the Farm Auctions to bid for a coveted PancakeSwap farm pair. PancakeSwap is also working behind the scenes to improve its performance issues. It has partnered with Streamingfast, Gnosis, Helix, TradingView, and other providers to enhance its resilience against the scalability issues in the Binance Smart Chain network.
What’s in store for CAKE?
PancakeSwap has the largest user base of any dAPP, with over 3 million users in the last month. Translating to over 41 million trades within the same period.
PancakeSwap launched the first mini-app of its kind on the Binance mobile app. The move will see many CEX users move into the DEX, increasing liquidity, staking, and utility for the many tokens on the platform. You need to update your Binance app to the latest version to access this feature. It is easily accessible by scrolling down on the Binance app home page.
Apart from an array of advantages and USPs, the most significant one is that the tokenized BNB, aka WBNB, is not found on many exchanges and almost the entire volume of WBNB is coming from PancakeSwap which makes it a dominant market player when it comes to trading BNB pairs.
Staking CAKE is mildly easy and requires a metamask wallet or BNB Wallet containing CAKE and BSC (BNB) to pay for gas. With current participation rates, you can earn an APY of over 45% in the CAKE Pool. (Note: PancakeSwap is currently undergoing some API-connection maintenance on Staking Rewards. Until then, data presented on this page may or may not be accurate and up to date.)
PancakeSwap Price History
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 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 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.
In the last two months of 2022, the price of PancakeSwap (CAKE) has raised by over 22% which shows that it is on a rebound from the bear market of 2022. Most investors are optimistic about PancakeSwap (CAKE) if the market conditions become even more favorable.
With the ongoing developments and upgrades within the PancakeSwap platform, PancakeSwap (CAKE) has a high possibility of reaching its ATH soon in 2023. Currently, PancakeSwap (CAKE) is in the range of $3.308. If the pattern continues, the price of CAKE might reach the resistance levels of $5.015, and $9.480. If the trend reverses, then the price of CAKE may fall to $3.141, and $2.473.
PancakeSwap Technical Analysis
Following the recent launch of the much anticipated Ethereum (ETH) Shanghai upgrade, CAKE’s price has recorded a price surge. According to the latest data gathered from CoinMarketCap, PancakeSwap is trading in bullish sentiment and the current price of CAKE is $3.66, an increase of 0.96%.
However, the current upward trend might size in PancakeSwap’s market in the hours due to the decrease in trading volume, which has recorded a price decrease of 1.38%. In comparison, the market capitalization has increased by 0.98% and is currently hovering at $678,445,377.
According to the daily technical analysis, PancakeSwap token is projected to continue experiencing a bullish sentiment in the near future. This is evident from the Relative Strength Index (RSI) indicator, which is currently above its Simple Moving Average (SMA) and has been rising steadily). This indicates that the market is experiencing a bullish trend, likely to continue in the coming days. As a result, there might be a potential price rise, leading to the Cake prices surpassing its resistance level of $3.67. However, the RSI line suggests that a bearish sentiment might occur soon as it has readings of 42.77 which is below its bullish signal.
The strength of bulls in the CAKE, the native token of PancakeSwap prices is also indicated by the Moving Average Convergence Divergence (MACD) indicator, which is strongly bullish as it is moving toward the northern side, suggesting the bulls have dominated the market. Hence, this trend might continue in the foreseeable future. This is also indicated by the formation of the trajectory histogram on the positive region, which predicts that the current bullish sentiment in the market might continue in the hours to come.
PancakeSwap Price Predictions by Cryptopolitan
PancakeSwap Price Prediction 2023
According to our CAKE price prediction for 2023, CAKE’s price is expected to trade at the highest price of $5.43. The average trading price of PancakeSwap is expected to be $4.69, while the lowest price will be $4.55.
PancakeSwap Price Prediction 2024
As per our price forecast for 2024, CAKE price is expected to trade at a minimum price of $6.65 with an average price of $6.89, while the maximum price will be $7.89.
PancakeSwap Price Prediction 2025
In the year 2025, PancakeSwap will continue to trade bullishly. We expect the highest price of CAKE to be $11.58 while the minimum price will exchange hands at $9.76. The average trading price of CAKE will be $10.10.
PancakeSwap Price Prediction 2026
According to our 2026 price prediction of PancakeSwap, CAKE will trade at a minimum price of $14.61, while the average price will be $15.12. The cake will trade at a maximum price of $17.03.
PancakeSwap Price Prediction 2027
In 2027, the PancakeSwap cake price prediction, CAKE is expected to trade at a maximum price of $25.54, while we expect a minimum price of $21.36, and the average price will be $21.96.
PancakeSwap Price Prediction 2028
Our CAKE price forecast suggests that in 2028, CAKE will trade at an average price of $32.22, while we expect the lowest price to be $31.35. The maximum price will be $36.96.
PancakeSwap Price Prediction 2029
CAKE price forecast projects PancakeSwap will trade at a maximum price of $52.94, and the minimum price of CAKE is expected to be $43.31. The average price in 2029 will be $44.60.
PancakeSwap Price Prediction 2030
According to our price prediction for CAKE in 2030, CAKE will reach a maximum price of $74.17 while the average price will hit $63.56, and the minimum price for 20230 will be $61.33.
PancakeSwap Price Prediction 2031
CAKE price prediction projects a maximum price of $106.64 in 2031, while the average price of PancakeSwap will be $94.16. We expect the CAKE minimum to be $90.98.
PancakeSwap Price Prediction 2032
PancakeSwap’s price is expected to reach at least $125.62 in 2032. The CAKE price can reach a maximum level of $158.93, with an average price of $130.33 throughout 2032.
PancakeSwap Price Prediction DigitalCoinPrice
The price prediction for PancakeSwap’s CAKE suggests that it will maintain its bullish trend in the upcoming years. DigitalCoinPrice forecasts that in April 2023, the minimum trading price of CAKE will be $2.94, while the maximum price will reach $7.80. On average, CAKE is expected to trade at $5.07.
Moving to 2024, the maximum price value for CAKE is estimated to reach $8.37, while the minimum trading price will be $7.57. The projected average price for CAKE in 2024 is $7.96.
PancakeSwap Price Prediction by PricePrediction.net
As per the CAKE price prediction by the PricePrediction.net, the CAKE token is expected to trade at a minimum of $4.79 in the year 2023. The maximum price of the token is expected to be $5.39 with $4.98 as the average price.
According to the price prediction by the site, CAKE is expected to trade at an average price of $15.12, in 2026, with a maximum price of $17.45. The minimum price for the year 2026 will be $14.71. PricePrediction.Net forecasts that in the year 2032, the minimum price of CAKE is expected to be $144.35, with an average price of $149.34. The maximum price in the year 2032 of cake will be $171.53.
PancakeSwap Price Prediction by CoinCodex
Coincodex has analyzed various popular technical indicators, market sentiment and other data points in order to provide a comprehensive PancakeSwap price prediction for the current and future years. According to Coincodex, PancakeSwap is predicted to reach a value of $3.61 by April 19, 2023, rising 0.13%.
The current sentiment of the market is Bearish, while the Fear & Greed index is showing 68, indicating a high level of greed. PancakeSwap has seen 16 out of 30 (53%) green days in the last 30 days, with a 1.98% price volatility.
In the best-case scenario, Coincodex predicts that if PancakeSwap follows Facebook’s growth trajectory, the price of CAKE could reach $94.60 by 2026. However, if PancakeSwap follows the Internet’s growth path instead, the prediction for 2026 would drop to $10.85.
PancakeSwap Price Prediction by Market Experts
In recent years, PancakeSwap has gained steady popularity within the cryptocurrency market. Market experts predict that the price of CAKE will reach $10 in the near future, as stated by market analyst Jacob Crypto Bury.
Did you miss this?
PancakeSwap has attracted investors and traders through its potential and great investment returns. It has attracted prominent crypto strategists and analysts in the market, and some have given their valuable opinions on the future of CAKE tokens.
According to Crypto Dynamics, CAKE can soon initiate a massive 1000x bull rally. It can trade for nearly $800 in the next ten years.
Conclusion
PancakeSwap provides an outstanding contribution to the crypto space and has a bright future ahead with its optimistic returns and fundamentals. It runs on the Binance smart chain and can lead the DEX sector to the next stage with its innovative technologies, user-friendly UI, and low transaction fees.
The PancakeSwap platform offers to solve the problem of cryptocurrency liquidity in the DeFi segment. PancakeSwap is the perfect answer for DeFi segment users as it offers an extensive range of services. It’s a decentralized exchange that enables its participants to create cryptocurrency markets and supply decentralized liquidity through profitable farming and commissions paid to depositors.
In the last quarter of 2022, PancakeSwap divulged an innovative roadmap for the fourth quarter of 2022 as it continues to grow. It has been revealed that a robust swap router will be integrated, providing users with enhanced capital efficiency and trading capabilities.
Most notably, PancakeSwap is expanding into different blockchains. The team is currently working on cross-chain bridges that will enable users to swap tokens across various networks, increasing liquidity and enabling DeFi applications to interact with multiple ecosystems.
The team has recently announced a competition for builders on the newly launched Aptos blockchain, which was combined with a Q&A between the two crypto organizations. The prices spiked following this news and are expected to continue surging in the next few months of 2023.PancakeSwap is set to have a bright future and its price forecast is anticipated to continue its upward trend.
Our PancakeSwap price prediction expects that it can be one of the dominating and leading DEXs in the era of digitalization, and PancakeSwap value will moon soon. However, we advise investors to take precautions, research multiple viewpoints, and seek investment advice before making any investment decision in a highly volatile market, which can lead to a considerable loss.
