Last week PancakeSwap experienced a surge in volume which in turn led to a spike in CAKE demand.
This translated into significant upside for the token but fast forward to today and the first wave of profit-taking is has kicked off.
The PancakeSwap native token pulled off an impressive 102% upside from its lowest price point to recent peak so far this month.
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.
It was not yet overbought at its aforementioned peak, which suggests that the pullback was largely due to some profit-taking.
CAKE price action/ source: TradingView
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.
Nevertheless, the recent performance revealed some interesting findings that could offer insights into CAKE prospects in coming
We współpracy z: https://www.thecoinrepublic.com/2025/03/19/pancakeswap-cake-profit-taking-intensifies-despite-impressive-demand/
