The food-themed DeFi protocols are fascinating the users in the crypto sphere. The emerging platforms allow users to post their funds in return for the protocol token. PancakeSwap is a decentralized exchange based on the Binance Smart Chain.
In this article, we will discuss thoroughly the PancakeSwap price predictions for 2021 and beyond. In the end, you will have a clear knowledge, how high the CAKE price can reach.
Table of contents
|Market cap||$ 4,349,060,123.0000|
|Circulating Supply||$ 223,572,436.8971|
|Trading Volume||$ 279,952,735.0000|
|All time high||$ 43.9600 April 30, 2021|
|All time low||$ 0.1944 November 3, 2020|
What is PancakeSwap?
PancakeSwap is a decentralized cryptocurrency exchange erected on Binance Smart Chain for swapping BEP-20 tokens. It uses an automated market maker and decentralized applications that users trade against a liquidity pool. The digital currency also allows users to farm additional tokens such as CAKE and SYRUP where users can stake, lend and earn rewards.
PancakeSwap Technical Analysis
PancakeSwap initiated its journey in the crypto space on 29 September with a trading value of $1.37 according to Coinmarketcap. The token surprisingly plunged to $0.47 within a few days and managed to resist at $1.09 by mid October. Following a bearish cycle, the currency shockingly declined to $0.22 by early November. Further the price steadily continued to recover and closed the year 2020 by reaching $0.58 at the end of December.
PancakeSwap Price Prediction 2021
CAKE entered the year 2021 with a recovered price of $0.61. Later, the token started an upward trajectory as the bulls acquired the market. As it is a token built on the world’s largest exchange Binance, its price might likely be intensified. It may reach a high cost of $60 if it significantly works on enhancing the platform. By the end of 2021, the token’s price is assumed to be as high as $80.
CAKE Price Prediction 2022
PancakeSwap might head towards the year 2022 at a price of $82. Further, the price is anticipated to escalate if the CAKE introduces new liquidity pools and it might have more participants. The token might conclude the year 2022 with a trading value of $150.
5 Years CAKE Price Prediction
CAKE is assumed to be a most needed decentralized exchange in the next 5 years. It might be ranked among the top 30 currencies and it may succeed to acquire the minds of investors and the users. It may dominate other exchanges by enhancing its platforms. The highest PancakeSwap’s price is assumed to be $280 by the end of 5 years.
PancakeSwap Market Prediction
According to CoinArbitrage, the CAKE’s price could be $12.0533 at the end of 2021 and the highest level the token’s price could reach $86.2675 in the next 3 years and lowest price could be 7.44894.
According to WalletInvestor, CAKE’s price would be $13.618 at the end of 2021 and $40.499 by the end of 2025.
According to DigitalCoinPrice, at the end of 2021, the average price of PancakeSwap could be $28.37 and anticipated to hit $58.51 by the end of 2025.
Our PancakeSwap Price Prediction
CAKE preceded the year 2021 at a lower value of $0.61. On a bullish note, the currency started an upward trajectory and remarkably reached $19.11 to hit an all-time high on 19 February 2021.
PancakeSwap might compete with other decentralized exchanges and its price might accumulate as it is built on the most trusted crypto exchange Binance. It may concentrate on introducing the more trading features and attract the investors. By the end of 2021, CAKE might trade at a high value of $85.
No, CAKE cannot be mined neither halved.
Yes, the CAKE token might be a profitable investment for the long term.
The DEX has a faster processing transaction speed at a lower price and anyone can use it.
Yes, PancakeSwap offers yield farming.
CAKE can be traded at the exchanges popular exchanges like Binance, Gate.io, CoinDCX and many more.