PancakeSwap is a decentralized exchange (DEX) that runs on the Binance Smart Chain (BSC) and allows users to swap, provide liquidity, and earn rewards as CAKE tokens. It is one of the most popular and innovative DeFi platforms that offers high capital efficiency and low fees.
It also provides auto-compounding rewards for liquidity providers and traders. It has an anonymous team, audited code, and innovative features like active liquidity farming, smart router, and position manager.
The CAKE price witnessed a short-term correction after a short-term bullish rally. The price experienced a surge above the 50-day EMA. The price started gaining from the beginning of November which helped the price gain from a low of $1 to a high of $2.74 in a very short time.
The daily chart shows the formation of an ascending triangle pattern near the recent swing high indicating further possible gain. The breakout above the recent swing high may initiate another bullish rally and the price may gain more.
PancakeSwap Price Prediction 2023
The technical indicators imply a bullish outlook above the 50-day and 200-day EMA. Moreover, a bullish crossover of the EMAs is visible on the charts which indicates the continuation of the bullish trend.
The price prediction for 2023 showcases a neutral to bullish outlook indicating an upside potential of nearly 16.16%. The optimistic view of analysts estimates that the price could advance to a high of $2.834 by the year-end. However, the pessimistic view of analysts predicts that the price could drop to $2.124.
PancakeSwap Price Prediction 2024
As per the analysts, the most optimistic target that the PancakeSwap price may achieve is $4.95; indicating an upside potential of 102.17% from the CMP. The average analyst price target to be attained is $4.128 by the end of 2024. However, the pessimistic view of analysts expects the price to reach $3.517.
PancakeSwap Price Prediction 2025
According to the most optimistic analysts’ projections, the CAKE price could reach up to $7.979 in the next three years as its highest value. The price may surpass $6.185 according to the average forecast of the analysts. The minimum forecasted price by the end of 2025 is $4.977.
PancakeSwap Price Prediction 2026
The price analysis for the year 2026 shows that CAKE crypto may achieve $10.46 as the highest price. The bearish view of the analysts expects the price to reach a low of $6.87 by 2026.
PancakeSwap Price Prediction 2027
The most bullish analysts foresee a potential value of $12.788 by the year 2027. The minimum price target that the CAKE crypto may achieve by 2027 is $8.966.
PancakeSwap Price Prediction 2028
The price forecast of PancakeSwap crypto shows that it may reach a high of $19.059 by 2028 if the most optimistic condition prevails. By 2028, the analysts’ lowest forecast for the PancakeSwap is $13.829.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2023/12/08/pancakeswap-price-prediction-can-cake-overcome-the-hurdles/