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Why Is PancakeSwap (CAKE) Price Up Today?

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PancakeSwap’s token is having a strong day. The CAKE price has climbed about 5% and is now trading near $2.55, while trading volume has exploded by more than 230%. That makes CAKE one of the top five gainers in the entire market right now.  The move is backed by fresh on-chain activity, big token burns,
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bearish:

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