I’m still leaning bullish on CAKE after its pullback to around 2.19: the price is digesting gains, while PancakeSwap’s protocol activity hasn’t cooled off along with it.

The current price is around $2.19, down about 2.7% over the past 24 hours; the intraday high was about $2.27 and the low about $2.18. According to DefiLlama, PancakeSwap’s DEX trading volume over the past 24 hours remains around $890 million, with combined multichain TVL of roughly $2.4 billion. On the governance front, voting is underway on the “The Flip” proposal (through around 10/24): it would raise the share of v3/Infinity LP fees to 88% and gradually reduce daily emissions from around 22,500 tokens to 7,000.

In the short term, it’ll move with $BNB and the broader market. Do you think it’s more likely to hold 2.18–2.20 and build momentum first, or should we wait until the vote is finalized before calling the direction?

$CAKE $BNB

The above is solely my personal observation and does not constitute investment advice.