PancakeSwap CAKE hits $2.28 as volume surges 112%
PancakeSwap (CAKE)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that CAKE rallied 13.4% to a high of $2.28, its first peak above $2 since December 2025. Trading volume climbed 112% to $25 million, indicating strong demand during the uptrend. The asset has recorded 34 consecutive months of deflation, reducing market supply by 14.5% or 55 million tokens since its 2023 peak.
Derivatives activity also intensified, with open interest rising 39% to $51 million and volume jumping 115% to $89 million. Binance top traders showed heightened bullishness, pushing the Long/Short Ratio to 3.7. Market delta remained positive since mid-August, currently sitting at 131.6k. Technical indicators support the bullish view, with the Aroon Oscillator holding near 92.
The Stochastic Momentum Index (SMI) reached 77, nearing overbought territory. If demand holds, CAKE could clear $2.4 resistance and target $3.00. Failure to hold $2 could see the price drop to $1.8.
How the market reacted
Whalio's own Binance spot order flow for CAKE, measured when this story was written up on 6 September 2026. Not the outlet's figures.
Whalio data shows CAKE trading at $2.25 with a 1-hour buy ratio of 50.8% and a 4-hour ratio of 55.4%, suggesting short-term buying pressure is building. However, the 24-hour buy ratio dropped to 47.3%, indicating that buying interest has faded over the full day. Volume delta reflects this shift, showing a positive $1,611 in the last hour and $55,264 over four hours, but a significant negative $1,005,635 over 24 hours. This means recent trades favored buyers, but the overall daily flow was dominated by sellers. Net buying occurred in only 14 of the last 24 hours. Spot volume for the period reached $18,579,720 across 168,360 trades.
The latest daily buy ratio of 43.6% sits at the 2nd percentile of the last 324 days, against a median of 50.6% - among the weakest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for CAKE, averaged over the days leading up to the story.
Compared to the preceding week, today's 24-hour buy ratio of 47.3% is 3.1 percentage points lower than the 7-day average of 50.4%. Volume was 3.06 times the weekly average, highlighting an unusually active trading day. While the price rose 30.6% over eight days, the 8-day volume delta was negative $1,894,772. Net buying was recorded on only 4 of the past 7 days. This indicates that despite the price surge, selling pressure has been a consistent feature of the recent weekly trend.