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The PancakeSwap price soared 20% in the last 24 hours to trade at $2.57 as of 12:08 a.m. EST on trading volume that skyrocketed 427% to $1 billion.
This surge in the CAKE price comes as meme coin activity increasingly shifts to PancakeSwap and the Binance Chain, reflecting a broader trend in the crypto market.
As the market attempts to recover, traders are capitalizing on emerging meme coins, driving liquidity and trading volume on decentralized exchanges like PancakeSwap.
PancakeSwap Price Could Continue Soaring
The CAKE price has witnessed a significant bullish reversal after breaking out of a falling wedge pattern, a well-known bullish reversal formation.
Before the breakout, the PancakeSwap price had been in a downtrend, consistently making lower highs and lower lows within the wedge.
However, after bottoming out at nearly $1.40, buyers stepped in, pushing the price of CAKE sharply higher, according to GeckoTerminal data.
Following the breakout, the price of PancakeSwap surged past both the 50 Simple Moving Average (SMA) on the 4-hour chart at $1.7483 and the 200 SMA on the 4-hour chart at $2.0933, confirming a strong bullish trend.
The Relative Strength Index (RSI) is currently at 85.76, which is deep in overbought territory and indicates strong buying momentum.
CAKE Aims For Prices Above $3
Based on the confirmed falling wedge breakout, the CAKE price has the potential to surge even more. The next resistance levels to watch are the $2.80 – $3.00 zone.
If the price of PancakeSwap clears $3.00, the next bullish target could be around $3.40 – $3.50.
On the downside, if a retracement occurs due to the overbought RSI, CAKE could drop to the next support zone around the 200 SMA at $2.09 with the next one around $1.74 (50 SMA).
In the meantime, investors are flocking to buy Best Wallet (BEST), which popular YouTuber ClayBro, with over 136K subscribers, says has the potential to soar 10X after launch.
Best Wallet Presale Blasts Past The $11.1 Million Mark – Next Crypto To Explode?
The Best Wallet presale just broke past $11.1 million, and the crypto community is hyped.
The wallet supports more than 60 blockchains and features a built-in DEX, presale aggregator, and crypto debit card. Its native token, BEST, powers an ecosystem designed to simplify on-chain activities while minimizing security risks, making it a standout in the competitive crypto wallet space.
Among Best Wallet’s many features, one is gaining massive interest from investors. That is its “Upcoming Tokens” section, which helps users discover promising projects that are still in the early stages.
What Are Crypto Reserves & Why Do They Matter? 🔎
A reserve is a supply of assets that institutions, banks, or governments hold to back their financial systems and ensure stability. For example, central banks hold gold reserves or large amounts of foreign currency to support… pic.twitter.com/w5AjL48mU3
— Best Wallet (@BestWalletHQ) March 17, 2025
The project’s success in identifying promising projects is already well-established. It flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered 500% and 3,000% gains, respectively, for early investors.
Investors can also stake BEST tokens for a huge 141% annual return. Currently, BEST tokens are priced at $0.024375.
Those interested should buy before a price hike in less than 13 hours.
Check out BEST on its official website.
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