PancakeSwap’s token is having a strong day. The CAKE price has climbed about 5% and is now trading near $2.55, while trading volume has exploded by more than 230%. That makes CAKE one of the top five gainers in the entire market right now.
The move is backed by fresh on-chain activity, big token burns, and steady growth across the PancakeSwap ecosystem that’s bringing in more traders and liquidity.
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One of the sparks behind today’s rally is a new staking opportunity. DamianWayne, a well-followed crypto commentator, highlighted that users can now earn ZENT tokens by staking CAKE.
The bigger your CAKE stake, the more ZENT rewards you can claim. This simple incentive has drawn interest from both existing CAKE holders and the ZENT community, encouraging more people to buy CAKE and lock it up.
🚨🚨Breaking news, you can now earn $ZENT by staking $CAKE.
— DamianWayne $RVV Kaisar (@DamianWayneGam1) September 17, 2025
The more you stake the more you get.#zentrians⚡⚡ this is a great opportunity for you guys, especially for rich zentrians hehe😁😁. pic.twitter.com/Kot7ihA0Yo
The other major driver is PancakeSwap’s ongoing deflationary plan. Earlier this month the platform completed its 24th straight monthly burn, removing 26.26 million CAKE (about $67 million worth) from circulation in August alone. That means roughly 17% of CAKE’s all-time supply has now been burned, a big milestone for its “ultrasound CAKE” strategy.
With fewer tokens on the market and steady demand, 24-hour trading volume is already up sharply. This supply squeeze is helping prices climb.
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Data shows that about 74% of August’s burns came from swap and perpetual fees, which is a strong sign that PancakeSwap’s core business remains very active. Traders are now looking ahead to the next burn update due on October 1 for confirmation that this deflationary trend will keep going.
Ecosystem Expansion Keeps PancakeSwap in the Spotlight
PancakeSwap is also getting bigger and more connected. Over $500 million in August trading volume came through its Solana v3 pools, showing strong cross-chain growth.
At the same time, a Coinbase Wallet integration has made CAKE liquidity easier to access for new users. And on the derivatives side, PancakeSwap recently rolled out 1,000x leverage on ETH pairs and even stock-token perpetuals, bringing in more professional traders.
All of this has helped PancakeSwap maintain its spot as the second-largest decentralized exchange by monthly volume, which reached $58.7 billion in August.
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CAKE Chart Shows Room for More Upside
The technical picture looks bullish too. Analyst Vespamatic points to CAKE price breakout from a steady uptrend and notes that the stochastic indicator is turning up from oversold levels.
He sees about 57% upside potential, with a possible move toward $3.80 if current momentum continues.
With consistent burns, fresh staking rewards, and rapid ecosystem growth, CAKE price has plenty of support for its latest rally. As long as the price stays above key support around $2.50 and trading volume remains strong, a run toward the $3.80 region seems very possible. For now, all the pieces are in place for PancakeSwap to keep surprising the market.
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