$CAKE

Is CAKE Ready For $10?

Notably, the token burn proposal also comes when PancakeSwap is undergoing significant changes, including the recent introduction of veCAKE and Voting gauges, whose voting concluded on November 22. With this proposal passing with over 99% community support, veCAKE holders can now vote on where future CAKE farm emissions will be directed.

This gives CAKE holders greater governance influence. Supporters maintain that this crucial decision makes the DEX more decentralized and community-facing

Ahead of PancakeSwap’s plans to burn 300 million CAKE, prices have been rallying. From the weekly chart, CAKE is up by over 260% from 2023 lows, roaring as demand increases. While bullish, bulls are yet to reverse losses of this year. A critical resistance level remains at around $5. A solid, high-volume break above this line could propel CAKE to around $10 in the coming months.