#pancakeswap 1'm bearish on $CAKE Good headline, weak tape. PancakeSwap sits No.5 on the 4h board at CMC rank 78, last $2.2870, and sellers own the session. The Kitchen published "The Flip" on Oct 14: v3 and Infinity LPs would keep 88% of trading fees on all 11 chains, 12% goes to treasury, and effective CAKE emissions drop about 69%, from 22,500 to 7,000 a day, all routed to a new Pantry growth fund. It still needs community feedback and a Snapshot vote, with rollout targeted for November 2026 through end of January 2027. Crypto Briefing and ChainCatcher both reported it. The market's answer so far: 1h -0.61%, 4h -1.53%, 24h +0.91%. Volume jumped +61% to $72.4M, yet price is only 22% up the 24h range. Market cap $727.1M, vol/mcap 0.0996. Expanding volume that cannot lift price reads as distribution into the news. Map: 24h $2.2628–$2.3750, 7d $2.0916–$2.4175, 4h pivot $2.3226. No OKX perp read in this snapshot, so this is a spot call. Bear case holds while CAKE stays below the 4h pivot; losing $2.2628 points at the 7d floor near $2.0916. I flip on a 4h close back above $2.3750. Risk: v2 burns alone are projected to keep supply net deflationary, which could pull dip buyers in fast. ES: Precio ~$2.2870 ≈ €2.0432 (tipo 0.8934). Si el voto en Snapshot sale y el precio recupera 2.3750, la tesis bajista muere. DEX fee wars are part of the DeFi map I keep on UnicornsMap #UMRadar . @alexdolbun on X @alexdolbun. #UMRadar #PancakeSwap #BNBChain $CAKE $AERO $BNB