PancakeSwap Burn Fuels Cake Price Rally Toward $1.60
Cake's price is on the rise as PancakeSwap's burn mechanism removes nearly $812,000 worth of CAKE tokens from circulation.
The latest burn removed approximately 556,000 CAKE tokens, strengthening the deflationary narrative behind the DEX native token.
A sustained close above the key resistance zone of $1.60 could unlock the next leg higher for Cake's price, potentially targeting the $1.65 to $1.70 region and beyond.