TL;DR
- CAKE surged 15% in 24 hours with trading volume up 200%, driven by PancakeSwap Infinity’s launch on Base and a $250K BNB Chain token campaign.
- Price eyes $5.00+ if it sustains above $3.30 resistance, though failure risks a fall to $2.00 support.
- TVL hit $4.29B (33% YTD growth) as CAKE’s market cap neared $2.5B, ranking it among the week’s top altcoin gainers.
PancakeSwap’s native token CAKE surged 15% in 24 hours, fueled by a 200% explosion in trading volume and the strategic expansion of its “Infinity” framework to Coinbase’s Base network. Trading above $3.30, CAKE now eyes a potential rally toward $5–$10 as technical and fundamental catalysts converge.
Modular Infinity Framework Ignites Base Network
The launch of Infinity on Base has supercharged activity. Developers now deploy dynamic fee structures, on-chain limit orders, and rebate systems for tailored liquidity pools. This follows Infinity’s April debut on BNB Chain and aligns with Base’s surging TVL, which has lifted the DEX’s overall TVL to $4.29 billion. The move has catapulted the DEX’s 24-hour volume to $4.4 billion, cementing its position as a top-three DEX.
$250K Alpha Token Campaign Extends Demand
The DEX amplified momentum with a BNB Chain trading campaign featuring five Binance Alpha Tokens: Bedrock (BR), MilkyWay (MILK), League of Traders, NodeOps (NODE), and Moonveil (MORE). Due to overwhelming demand, the campaign was extended to August 5, offering participants a share of $250,000 in rewards. This incentive, paired with BNB’s rally to a new ATH above $850, drove retail frenzy, placing CAKE atop 24-hour gainers ahead of rivals like Ethena and Cronos.
Technical Breakout Eyes $5–$10 Horizon
CAKE’s 19% weekly gain has positioned it to challenge the $3.30 resistance barrier, a level not sustained since early 2024. A daily close above this threshold could trigger a bullish cascade toward $5.00, with analysts eyeing $10.00 amid rising altcoin sentiment. The rally is backed by robust technicals:
- RSI holding at 65 (avoiding overbought signals).
- The MACD bullish crossover is accelerating upward momentum.
- Volume support is doubling historical averages.
- Failure to hold $3.30 risks a pullback to $2.00 support, though current momentum favors bulls.
At the time of writing, the token continues its upward momentum, trading at around $3.12, increasing more than 11%.
Market Cap Nears $2.5B Amid Altcoin Season
The token’s market capitalization has ballooned to $2.3 billion, ranking it among the week’s top 10 performers. As Bitcoin stabilizes near $118,000 and BNB Chain activity intensifies, traders are rotating capital into high-utility DeFi tokens. PancakeSwap holds 7.2% of the total DEX volume, and with Infinity expanding across multiple chains, CAKE’s utility-driven growth could have more potential.
