• PancakeSwap Expands to Solana through DFlow integration, boosting liquidity and tighter spreads across multi-chain ecosystems.
• CAKE is trading at $2.66; analysts see bullish targets at $9.3, $18.7, and even $38.4.
• Derivatives Slowdown: Futures volume dropped -18.59%, with open interest down -3.09%, signaling cautious market sentiment.

PancakeSwap (CAKE) has expanded to Solana via its integration with DFlow, boosting liquidity as analysts predict a multi-year bull run with a potential price target of $38.

At the time of writing, PancakeSwap (CAKE) is trading at $2.66, with a 24-hour trading volume of $78.91 million and a market capitalization of $905.21 million. The token increased by 0.09% in the last 24 hours.

PancakeSwap Launches On Solana Blockchain

According to shared by DFlow, PancakeSwap is now live on Solana and forms an integral part of the DFlow ecosystem. Since its inception, the platform has processed more than $400 million in Solana-based trades, reflecting strong activity among its users.

This integration is designed to provide improved liquidity and tighter spreads, further consolidating PancakeSwap’s position as a leading decentralized exchange (DEX) across multiple blockchains.

The initiative is seen as a major move towards a more liquid and efficient blockchain framework, offering users versatility on a wider range of networks.

PancakeSwap (CAKE) Eyes Multi-Year Breakout Pattern

Technically, crypto analyst Crypto Patel highlighted that CAKE/USDT is nearing a multi-year breakout pattern. The token has been ranging inside a wedge pattern ever since 2022 and is set to contact a seminal trendline. Patel said that if CAKE cannot stay above $2, the general longer-term setup remains bullish.

His bullish targets include a potential rally towards $9.3, then $18.7, and even $38.4, in the case of a bullish breakout above the resistance. This would be a major turning point for the token, which has witnessed a period of protracted consolidation.

Also Read | PancakeSwap CAKE Forecast 2025: Will the Price Hit $6 or More?

PancakeSwap Derivatives See Drop in Activity

CAKE derivatives saw a slowdown in volume, which fell -18.59% to $34.12 million, and open interest, which also declined -3.09% to $45.82M. This indicates decreased participation in futures positions, reflecting a cautious tone with price consolidation showing a lack of strong direction.

From a funding perspective, the OI Weighted funding rate of 0.0024% indicates a fairly balanced market, showing no significant bias towards longs or shorts. The mild funding rate reflects low leverage pressure, keeping the market steady even with weaker trade activity.

Also Read | PancakeSwap CAKE Price Analysis: Targeting $4.40 Breakout Potential in 2025