PancakeSwap's token CAKE is showing active growth ahead of an important announcement from the project team, attracting attention from investors and analysts.
CAKE's Market Surge
CAKE, PancakeSwap's token, has shown a 2.8% increase over the last 24 hours, now trading at $2.64. This increase comes after a teaser shared by the PancakeSwap team on their official social media account regarding an upcoming major announcement.
Current Market Indicators
According to CoinMarketCap, CAKE started the session at $2.56 and quickly gained as buying pressure increased. Current support is noted at $2.55, while $2.56 serves as a key intraday pivot. If CAKE stays above $2.60, the next significant breakout level lies at $2.64.
Analysts' Forecasts for CAKE
Analysts remain bullish on CAKE's potential, predicting a price range between $5.50 and $5.83 by December 2025. This represents a potential upside of over 115% from its current price, which may attract the attention of investors.
CAKE's growth amid the anticipated announcement highlights investor and analyst interest. With current positive indicators and forecasts, the token's ability to reach new price heights may increase significantly.
