PancakeSwap CAKE

What CAKE actually is on-chain

PancakeSwap is a BEP-20 deployed on BNB Chain, at contract address 0x0e09fabb73bd3ade0a17ecc321fd13a19e81ce82. That address, not the ticker CAKE, is what uniquely identifies this asset: anyone can deploy a second token calling itself CAKE, but the contract is unforgeable. Verify it against bscscan.com before sending funds or approving a spend.

Because it lives on BNB Chain, CAKE is held in any EVM-compatible wallet, transfers are paid for in BNB rather than in CAKE itself, and secondary liquidity sits in PancakeSwap pools. Two consequences follow for anyone setting alerts: you need BNB in the same wallet to move the token at all, and a quoted price taken from a pool is a pool price — it includes slippage that an order-book quote would not.

For CAKE the project publishes a whitepaper, a public source repository and an active account as @pancakeswap. Both a written specification and readable code exist, which is a materially higher bar than most assets in this size range clear. None of it is a quality judgement about the asset; it is simply what can be independently checked before the chart is worth looking at.

Where CAKE sits in the market

#110 places PancakeSwap in the top of the mid-cap band. Liquidity is already fragmented at this depth: a large share of real CAKE volume can sit on two or three venues, so a quote on a secondary exchange may lag the primary market by seconds and by more than a basis point. Position size matters more than entry timing here.

CryptoPingAi is currently streaming 6 live CAKE order books (Binance, Bybit, Gate.io, MEXC, HTX, Bithumb). That is wider coverage than most assets ranked near #110 carry, so a divergence on any one of them is far more likely to be a local liquidity event than a genuine repricing. One of them is a Korean won market, so the Kimchi-premium spread between the KRW and USDT quote is visible on this page.

CAKE against its all-time high

CAKE is down more than 95% from its $43.96 peak (on 2021-04-30), leaving a 23.1x gap to reclaim. A drawdown this deep strips the record of analytical use: the supply structure, the holder base and usually the market cycle behind that print no longer exist. For CAKE the informative reference is the downside, which makes the range section below more relevant than this one. It was set 6 years ago. A reference that old says more about the cycle it belongs to than about the asset as it trades now.

CAKE across its historical range

CAKE has traded across a 226x range, between $0.1944 and $43.96. Any volatility figure quoted for this asset depends heavily on which part of that range it is measured over.

CAKE trades roughly 9.79x above its record low of $0.1944 (on 2020-11-03). Recovery from the bottom has been limited, which means the low is still close enough to function as a real reference level rather than a historical footnote.

CAKE supply structure

CAKE is capped at 400.0 million CAKE, of which only 326.8 million is circulating — 81.7% issued, leaving 73.2 million still to come. At that ratio the emission schedule is a primary driver of the supply story, not a footnote: new supply arrives continuously and has to be absorbed by new demand before price can hold a level.

What kind of asset CAKE is

PancakeSwap is a decentralised exchange token. The economics are unusually legible for crypto: the protocol generates fees from trading volume, and the token's value proposition rests on whether it captures any of them. Volume on the underlying venue, the fee switch status and competitive pressure from other venues are the variables that actually matter — and DEX volume is itself highly cyclical, so revenue is not a stable base.

CoinGecko files CAKE under 10 categories, including Decentralized Exchange (DEX), Exchange-based Tokens, Decentralized Finance (DeFi), Yield Farming, Automated Market Maker (AMM). CoinGecko also records deployments on BNB Chain (2,027 tracked tokens), Solana (3,129 tracked tokens), Arbitrum (391 tracked tokens), so on-chain liquidity is split across several networks and the cheapest venue depends on which deployment you are trading.

How to set a PancakeSwap alert that is worth receiving

PancakeSwap is the BEP-20 at 0x0e09…ce82 on BNB Chain — quoted on 6 venues we stream — high dated 2021-04-30 — rank #110. On this profile the condition that carries signal is thresholds anchored to the recent range rather than to the all-time high.

Full alert-design method: thresholds, RSI/MACD and volume conditions →