web3: PancakeSwap burns 556,000 CAKE, price approaches $1.60

PancakeSwap's native token CAKE has continued its rebound recently, with the price rising to around $1.53, marking a daily increase of about 5%. At the same time, the protocol completed a new round of token burns, reducing the circulating supply and making the $1.60 level once again a key short-term focus.

This round of burn valued at about $812,000

According to reports, PancakeSwap burned 556,000 CAKE in this round, which is estimated in the article to be worth close to $812,000. Token burns typically reduce circulating supply, and when demand remains unchanged or strengthens, this may provide price support.

However, supply contraction itself does not directly guarantee sustained price increases. The market is paying more attention to whether, as sell orders continue to concentrate around $1.60, buyers can continue to absorb the selling and push the price to hold higher ranges.

• Number burned: 556,000 CAKE
• Estimated value: About $812,000
• Latest price: About $1.53

The $1.60 level becomes a short-term focus

Looking at the current trend, CAKE has rebounded from its previous low range and is once again approaching the $1.60 to $1.66 area. The report suggests that if the price can firmly stand above $1.60, it could further test $1.65, or even $1.70 in the future.

On the other hand, if this level continues to see significant selling pressure, CAKE may return to range-bound trading, with a downside target toward the $1.45 to $1.42 zone. If it breaks through this support, market attention may further shift to the $1.27 to $1.30 range.

Volume and order absorption remain the key factors ahead

The report notes that the current price momentum has improved, but $1.60 is not only a psychological round figure but also an area where selling pressure has previously been concentrated. Therefore, whether the price can break through with increased volume remains the key to judging whether this rebound can continue.

If a breakout comes with higher volume, it usually indicates stronger buying demand; if the price fails to break through after multiple attempts, it implies that selling pressure near the upper end of the current range persists, and CAKE will most likely continue to consolidate in the short term.