PancakeSwap (CAKE) Price Prediction: Can It Continue Its Outperformance?

This PancakeSwap price prediction explores whether it can continue rallying toward $5 or even higher.

PancakeSwap has been rolling this week, continuing to outperform other major cryptocurrencies with a 46% surge in seven days.

This PancakeSwap price prediction explores whether it can continue rallying toward $5 or even higher.

PancakeSwap DEX Volume Surges by 73%

PancakeSwap is outperforming other decentralized exchanges this week.

And it isn’t just in terms of price action – it’s also seeing huge user activity.

If you glance at the DEX volume page on DeFiLlama, you will see that PancakeSwap has facilitated $2.542 billion in volume this week, a 73% increase. In the same window, Uniswap has facilitated $1.152 billion in volume and Raydium $320 million.

In fact, the next five most-active DEXs combined have clocked lower volumes than PancakeSwap this week.

Because of this, the platform is also generating revenue at an unprecedented rate. In the past seven days, it has raked in $35 million in fees, which can be used to fuel the platform’s development. This makes it the third-highest earner among crypto protocols, lagging only behind stablecoin titans Tether and Circle.

PancakeSwap is performing so well because of a surge in activity on the BNB chain, which is being fueled by Binance founder Changpeng “CZ” Zhao. He has made several headline-worthy moves to stimulate on-chain activity. The most recent was directly investing 1 BNB in an up-and-coming meme coin called Mubarak.

It was merely a token gesture from the multi-billionaire, but it underlined his commitment to supporting BNB ecosystem projects.

Binance exchange has also favored BNB chain cryptos in its listing process recently, so traders are busy speculating which ones it might list next. And they’re using PancakeSwap to do it.

Analyst Braces For ‘Massive Bullish Rally’

Fundamentally, Pancakeswap is in a solid position right now. Not only is it enjoying substantial adoption, but it’s buoyed by one of crypto’s most influential figures and the leading centralized exchange.

And its price chart paints an equally exciting picture.

Analyst Clifton Fx noted that Pancakeswap is breaking a long-term downtrend, which could result in a rally to $22.5, almost a 10x gain from its current price.

Taking a shorter-term outlook, Aloha Crypto believes that Pancakeswap is set to break from a descending triangle with price targets at $4.71 and $6.12.

Another factor to consider is PancakeSwap’s $781 million market cap. In comparison, Uniswap is worth $4.3 billion today, over five times more than $CAKE.

Should PancakeSwap maintain its lead in terms of volume and revenue, it would not be unreasonable to suggest that it could demand a price of $6.12 in the short term or even Clifton Fx’s $22.5 target before the bull market ends.

These are huge gains but experts believe that a Pancakeswap competitor could give even bigger returns.

Pancakeswap Competitor Best Wallet Token Tipped For 100X Surge

Best Wallet is a new crypto wallet and swapping platform that supports over 60 blockchains. But it isn’t just another way to store your crypto – it aims to change how users interact with blockchains and could potentially overtake platforms like PancakeSwap.

The project includes features such as a cross-chain DEX, crypto debit card, derivatives futures trading, presale aggregator, staking aggregator, and more.

And the Best Wallet token is at the heart of it all. It provides trading fee discounts, higher staking yields, governance rights, and access to promotions on partner projects.

The project is undergoing a presale and has raised $11.2 million so far.

Compared to the $782 million market cap Pancakeswap, or $4.3 billion Uniswap – Best Wallet has plenty of room for growth. And that’s not to mention its fleet of extra features.

As such, analysts expect substantial growth. In a recent video, RJ from the Cryptonews YouTube channel said the project could yield 100x gains.

Best Wallet is live now and boasts over 250,000 users. It’s rare for a project with such a strong use case and active community to be available to buy at a ground-floor price.

However, the $BEST presale price will rise throughout the ICO, so prospective buyers should not wait around to get involved.