PancakeSwap Price News: As DEX Volumes Rise to All-Time Highs – Can CAKE Break $3?

PancakeSwap (CAKE) has had a good year. Since 2025 started, the token has accumulated gains of 20%.

Although this pales in comparison to how other cryptos have performed lately, CAKE could be poised to experience a significant jump in the next few weeks as trading volumes have skyrocketed.

DEX Volumes Hit $170 Billion in July

Data from DeFi Llama indicates that CAKE is about to close its best month in history as monthly volumes currently sit at $170.4 billion – an 11.1% increase compared to last month’s closing.

Fees also jumped to a new record, closing last month at $339 million while standing at $396 million thus far in July.

Pancake Swap Monthly DEX Volumes – Source: DeFi Llama

As the largest decentralized exchange (DEX) within the Binance Smart Chain, PancakeSwap may be capitalizing on the latest wave of positive momentum that the BNB Chain (BNB) token has been experiencing lately.

In May this year, Pancake Swap also launched a new protocol called Infinity, created to offer a cheaper, faster, and more scalable trading experience.

Base has already embraced Infinity and trading volumes across this protocol have been increasing recently from $293 million in May to $2 billion as of last month.

CAKE was recently launched on the Solana network. This should also help increase the token’s liquidity as more pools are now able to integrate the asset and inject additional inflows.

CAKE Hits Key Resistance at $3

The last time we covered CAKE in late May, we highlighted that the price hit an area of strong selling pressure as it got to the $3 psychological threshold. The price action was already showing signs of bullish capitulation and the $2.5 level was the key support to watch at that point in case of a retreat.

Around a month later, the decline pushed CAKE to as low as $2 per token but then the price started to recover once again and has now hit the $3 threshold once again.

CAKE/USD Daily Chart (Binance) – Source: TradingView

Selling pressure continues to be high at this level. After a 10.4% advance yesterday, the price has retreated strongly from its session highs of $3.31. Although it is still too early to tell if this will be the beginning of another pullback like last time, it is a sign for caution to bulls that this may be a good time to take some profits off the table.

Trading volumes confirm that the selling pressure has been strong as they have incresed by 170% in the past 24 hours and currently account for 48% of CAKE’s circulating supply.

If a pullback occurs, the 200-day exponential moving average (EMA) would be the key support to watch and could possibly offer the most attractive entry for a long position at a point when on-chain indicator and momentum favors a bullish breakout.

The odds favor an upcoming push to at least $4 if enough buying pressure accumulates at around $2.5 – $3.

The protocol’s growing trading volumes, a new all-time high for BNB Coin (BNB), and the market’s positive sentiment could contribute to pushing CAKE to the levels we saw in December 2024.