PancakeSwap hasn’t been the most exciting chart to watch lately, but some traders think that might be changing.
After moving sideways for almost three years, the CAKE price is suddenly gaining interest again, and one analyst believes it’s gearing up for its biggest breakout since 2021.
What you'll learn 👉
Three Years of Quiet Consolidation
The CAKE price has been stuck in the same tight range since mid-2022. It hasn’t broken above $4.50 or dropped much below $1.30, even though the project kept rolling out upgrade after upgrade.
That long stretch of sideways action has built a classic accumulation zone, the type of structure where a strong move can happen once momentum finally returns.
During this “quiet” period, PancakeSwap wasn’t exactly asleep. It cleared $772 billion in Q3 trading volume, launched v3 across more than eight chains (including Solana), burned over 26 million tokens, and rolled out its deflationary Tokenomics 3.0 model.
On top of that, integrations with LayerZero and Monad expanded its multichain reach, while Google and Telegram onboarding brought in new retail traffic. So while the CAKE price stayed flat, the fundamentals kept strengthening.
A Breakout Zone the CAKE Chart Has Held for Years
The weekly chart shared by XFinanceBull highlights two major upside zones: $26 and $44. From today’s $2.34 price, those levels represent roughly a 10x and a 20x move.
The analyst argues that the CAKE price has been coiling inside its range for so long that a breakout could happen faster than most expect once buyers step in.
The setup is straightforward: if CAKE finally lifts above the upper boundary of its multi-year box, momentum could kick in quickly. The analyst’s view is that most traders won’t notice the breakout until it’s already underway, which is why he says the “edge” is formed now, not later.
Is CAKE Really Ready to Wake Up?
Nothing is confirmed yet. The CAKE price is still inside the same range it has respected for years.
But the combination of supply cuts, multichain expansion, rising volumes, and stronger tokenomics is exactly the kind of backdrop that has preceded big moves in past cycles.
Whether CAKE actually wakes up soon remains to be seen, but interest is clearly returning, and the chart is showing the first hints of life after a very long sleep.
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