PancakeSwap Price Prediction: Will CAKE Price Smash The $30 Milestone This 2022?

The post PancakeSwap Price Prediction: Will CAKE Price Smash The $30 Milestone This 2022? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The ever-evolving crypto market is presenting some of the most promising cryptocurrency projects and Pancakeswap is one of them. Moreover, the native token CAKE has blossomed in the crypto space and also materialized as one of the exemplary & advantageous investment assets.

But what can we envision from Pancakeswap in the future?  Will the PancakeSwap price swell or decline in 5 years? These are the basic questions any merchant wants to know. Fret not, as we decode the price prediction of CAKE for 2022 and the years to come.

Overview

PancakeSwap (CAKE) Price Prediction For 2022

CAKE’s price commenced the year with its price at $11.744. Moving ahead a crash in the market slashed the price by 40%, leaving the price at around $7.302. After ranging sideways until the 4th of February. A notable spike in buying and selling pressures pushed the price to $8.52, by the 10th of February. 

But a market-wide downswing resulting from global tensities dragged the price down to $5.510, by the 16th of March. However, an uptrend seen thereafter helped the altcoin brush its support levels at $9.380, by the end of the quarter.

PancakeSwap’s (CAKE) Price Prediction For Q2

 If Pancake Swap lures investors and builds up on volumes, the digital asset could establish grounds at $9.666. Further, if the RSI factor portrays a bullish divergence, the price of CAKE would form its quarterly high at $12.103. 

On the flip side, if the altcoin fails to gather steam. The price could head to find its support at levels around $8.018. That said, an equilibrium in buying and selling pressures will land the price at $10.311. 

CAKE’s Forecast For Q3

  With the successful implementation of Fixed-term staking, prediction updates, lottery updates, and ZAP, by the end of Q2. We might find the results yielding in the third quarter. Wherefore, the price of CAKE could surge to its potential high of $18.552, by the end of the quarter. 

However, the network failing to adhere to its commitments could result in CAKE’s slip to $12.748. Successively, linear progress on the market charts could settle the price at $15.184. 

PancakeSwap Prediction For Q4

  Growing optimism in the final quarter, and supplemented by developmental initiatives, and burn events. The price of CAKE could possibly surge to its maximum of $29.229, by the end of the year. On the downside, if the protocol loses out on steam, amidst stiff competition. The price could stumble down to $19.125. Considering the bullish and bearish targets, the average price could find ground at levels around $23.066.

CAKE’s Price Forecast For 2023

  With fastened development in UI/UX upgrades to the NFT market and introducing IFOs. Pools+farms, Farm auctions then CAKE price would chug up for new milestones in 2023.  The protocol would hit a maximum of $63.821 by the year’s end. The average and minimum possibilities are $43.258 and $26.115. 

Price Prediction For The Next Five Years

 NFT market phase 1, mobile-first UI overhaul, Farm auctions, Info and Analytics V2. And Lottery V2 iteration evolves as a better option for traders. Wherefore, CAKE has enormous potential to claim newer heights. 

If it is able to provide complete integration of the NFT-based platform with the actual business world. It would be easier for the companies to use the NFTs. By the next five years, Pancakeswap might reach a maximum of $179.72. On the contrary, if the bear market flips the uptrend. Then the possibility of the price plunging to as low as $73.168 rises.

What Does The Market Say?

Trading Beasts:

  According to the forecast of Trading Beasts, PancakeSwap is expected to close its trade for 2022, with a maximum price of $10.970. Conversely, trend reversal in the business is expected to close the year at its potential low of $7.459. The firm foresees the possibility of the altcoin hitting a maximum of $13.56, by the end of 2023. And a maximum of $15.016, by the end of 2025. 

Digital Coin Price:

A crypto prediction website has reupdated its price prediction for CAKE. The forecast cites that the price is expected to close its trading at its potential high of $15.72 by 2022. The analysts from the firm have also made predictions for the long term. They expect CAKE to surge as high as $13.74, by the end of 2023. And a maximum of $19.06, by the end of 2025.

Priceprediction.net:

According to the algorithmic analysis of the website. The price of the cryptocurrency could surge as high as $9.91, by the end of 2022. The forecast has set the minimum and average closing targets for the year at $8.69 and $9.01. The company expects the CAKE price to hit its potential high of $15.30 by the end of 2023. And a maximum of $32.62, by the end of 2025.

Click here to read our price prediction of The Graph (GRT)!

What Is Pancakeswap (CAKE)? 

  PancakeSwap is a blockchain-powered platform built to renovate the supply chain. The network 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.  

Fundamental Analysis

  Earlier to the launch of the platform PancakeSwap, AMM  and farms were introduced in September 2020. Pancakeswap v2 aims to facilitate certain functions, like adding buy-back and burn mechanics to trading fees, customizable CAKE, and auto-compounding. 

Presently, Pancakeswap is engaged in undertaking UI/UX upgrades to the NFT market. Also making groundwork for regular NFT drops and regular 1FOs, pools+farms, Farm Auctions. 

There are certain approaching projects such as NFT market phase 2 to buy and sell third-party BSC NFTs. Plans to add charts on trading sites, and introduce simple liquidity (ZAP) contracts.

Our PancakeSwap (CAKE) Predictions

According to Coinpedia’s formulated Pancakeswap price prediction. On a bullish note, the currency may commence in 2022 with an upward trajectory and would reach a new all-time high by mid of the year.

However, PancakeSwap might compete with other decentralized exchanges and its price might accumulate. As it is built on one of the most trusted crypto platforms Binance. It may concentrate on introducing more trading features and attracting investors. By the end of 2022, CAKE might trade at a higher value of $30. On the flip side, bearish trends could clutch the price down to $20.51.

Historic Market Sentiments

2018

  PancakeSwap (CAKE) was listed on cryptocurrency exchanges in late July 2018 and traded in the range of $0.02-$0.026. However, Pancakeswap soon broke out of that range and experienced increased volatility.

From the beginning to the middle of August, the price fell to $0.006 per CAKE. A rebound immediately followed the decline, hitting $0.0198 by September. Unfortunately, the rebound was temporary and was followed by a prolonged recession. By December, the price had dropped as low as $0.0033. Pancakeswap closed the year at $0.004.

2019

In Q1 2019, the price of CAKE was stuck in the $0.0036-$0.005 range. In March, the cryptocurrency was able to break out of the range and grow to $0.0079. After pulling back to $0.0056 in April, the asset continued to grow, peaking at $0.0098 in June.

CAKE could not hold these heights and slid down before it established support at $0.0028 in late October. As the asset found new ground, it recovered quickly and met resistance at $0.008 in November. Its first attempt to rise above this mark didn’t end well and led to a pullback to $0.0046.

The second attempt led to the same result. After running up against resistance at $0.008, CAKE fell to its previous support of $0.0046. The asset closed the year with a $0.0056 price per coin.

2020

From the beginning of the year, Pancakeswap continued to grow and retested the resistance at $0.0082 in February. Unfortunately, at that point, the entire market had rapidly declined. On 13 March, CAKE set a new low at the $0.0016 mark.

After that, the cryptocurrency started to grow slowly but surely. On 11 June, CAKE broke its resistance at $0.0082, and buyers pushed the price as high as $0.022 in July. A slight pullback followed to $0.0146.

After a steady pullback, CAKE managed to trade at $0.017 by early August. Further, the price managed to be at $0.0021 by mid-August and further plunged to $0.0016 by the end of August. As bears held the market, PancakeSwap’s price continued to decline for several months until the end of November. 

Later, the price surged to $0.018 as the expansion of Bitcoin’s price rally further started declining. CAKE continued to trade at $0.015 by early December and managed to reach $0.019 by the end of 2020.

2021

PancakeSwap had commenced the year with its price trading at $0.020. The asset soared to a new ATH of $0.2782 in the month of April.  The altcoin hovered around the same zone for a month. Due to the Chinese market crash on May 19th, the price experienced a heavy pull back to $0.07238. 

In the month of July Pancakeswap partnered with ReSea to prevent a thousand kilos of plastic from polluting oceans. Which took the price rally to $0.1539 on September 5th, 2021. Yet again market turmoil coming out of the Chinese market impacted the price rally to dump by 23.3%. Followed by the platform’s plan to upgrade its Proof-of-Authority (PoA) 2.0, the asset regained its bullish momentum reaching $0.1192. 

Owing to the US Fed’s decision on interest tapering in 2022, the protocol has experienced a steep fall reaching $0.077 from $0.1631 in December. Though it managed to break out at the year’s end, it failed to gain strength around the same level. 

To read our price prediction of Dash click here!

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