PancakeSwap has burned 1.28 million CAKE tokens this week, reducing the circulating supply to 359 million. This token burn has contributed to a price increase, with CAKE currently trading at $2.58, up 2.63% in the past 24 hours. The trading volume has also surged by over 132% to $248.7 million. Technical indicators such as RSI and MACD show positive momentum, and CAKE is nearing a key resistance level of $2.66, reinforcing a bullish outlook. Additionally, the funding rate for CAKE turned positive at 0.0041% on November 11, 2025, historically signaling potential price increases.