With decentralized finance (DeFi) rising, PancakeSwap, one of the largest decentralized exchanges (DEXs), has been at the forefront of the revolution. Pancakeswap price has seen a strong advance over the past weeks. After setting a new swing low around $11 on the 20th of July, CAKE/USD gained more than 140 percent until resistance was found at $26.5 on the 26th of August. In this price prediction, we shall take a closer look at the price prediction of PancakeSwap (CAKE). But before doing so, we shall first delve into unmasking what PancakeSwap is and how it functions to get a clear picture of what investors should expect with the platform and its coin in the future. PancakeSwap As mentioned above, PancakeSwap is a DEX and an automated market maker (AMM) built on the Binance Smart Chain (BSC). It is the largest decentralized application (dApp) on the BSC, and it allows participants to switch tokens securely and effectively. It offers a decentralized business experience while leveraging liquidity pools. Some stake BEP 20 tokens in the liquidity pools of corresponding tokens, and some depend on the liquidity pools to swap one BEP 20 token for another. Those providing stake tokens in the liquidity pools are referred to as liquidity providers, and they receive an interest depending on the number of tokens they stake in each pool. The DEX has also included yield farming by allowing liquidity providers to stake Li...
