Whale Activity Drives CAKE’s 56% Price Surge

In the midst of market uncertainty, significant interest from large investors, or whales, has been directed towards CAKE, the native token of PancakeSwap. Recent data from an on-chain analytics firm indicates that PancakeSwap has seen a substantial increase in whale activity over the past week, leading all other assets in this regard.

According to the report, the percentage change in transactions made by whale wallets holding over $100,000 worth of CAKE increased by 439.71% over the past week. This surge in activity was followed by HEX and Mantle (MNT), which recorded jumps of 275% and 144.44%, respectively, during the same period. This massive whale activity is likely the driving force behind CAKE’s 56% price increase over the past week, while major assets like Bitcoin (BTC), Ethereum (ETH), and XRP struggled to gain traction.

On March 22, 2025, CAKE surged over 4.5% in the past 24 hours and was trading near $2.70. During the same period, its trading volume increased by 15%, indicating higher participation from investors and traders compared to the previous day. With the massive price surge in recent days, CAKE has reached a crucial resistance level with a strong history of price reversals. This level has previously acted as a significant selling pressure zone.

According to expert technical analysis, CAKE has reached a strong resistance level at $3 and has been consolidating near this level for the past three days. Based on recent price action and historical momentum, if CAKE breaches this resistance and closes a daily candle above $3.05, there is a strong possibility that the asset could soar by 45% to reach $4.30 in the coming days. On the other hand, if it fails to break the resistance, the asset could repeat its historical pattern and experience a price decline. Additionally, CAKE is now trading above the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating that the asset is in an uptrend.