The token CAKE, which powers PancakeSwap, has surged 58.75% in the last 24 hours, reaching $3.05. This increase is attributed to reports of whale activity and renewed enthusiasm for BNB Chain tokens, following bullish outlook comments from Binance's co-founder. A former PancakeSwap advisor and BNB whale withdrew 500,000 CAKE and 3.88 million TST from Binance, suggesting optimism for the CAKE token. The surge in CAKE's price is part of an overall increase in prices of BNB Chain-based tokens. The CAKE token has also reclaimed two major exponential moving averages and is encountering resistance above $2.77. If whale accumulation continues and sentiment for BNB Chain remains positive, CAKE could potentially reach $4.00 - $4.50. However, a rejection at $3.50 could lead to a pullback towards $2.50 - $2.20.



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