In accordance with BitJie, PancakeSwap burned 1.28 million CAKE tokens this week, reducing the circulating supply to 359 million. The token's price has risen following the burn, with RSI and MACD indicators showing positive momentum. CAKE is currently approaching a key resistance level of $2.66, reinforcing the bullish outlook. The weekly burn activity has surged, with more tokens being removed than newly issued, increasing scarcity. The funding rate for CAKE turned positive at 0.0041% on November 11, 2025, a historical indicator of price increases. CAKE is currently trading at $2.58, up 2.63% in the past 24 hours, with trading volume surging over 132% to $248.7 million.
PancakeSwap Burns 1.28M CAKE Tokens, Boosting Bullish Outlook
币界网Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.