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- PancakeSwap’s surge in trading volume is driven by meme coins, but long-term sustainability may be at risk if the trend follows previous patterns.
- Pi Network’s price decline may signal a rebound, with token unlocks and exchange listings playing a critical role in its future trajectory.
The crypto market ended the previous week with mixed performance after major economic events. The Federal Reserve even held interest rates, and the U.S. Securities and Exchange Commission (SEC) decided not to pursue further legal action against Ripple Labs.
Despite this, Bitcoin (BTC) struggled to break the $90,000 barrier, while most altcoins have remained in a technical bear market. As the market prepares for possible impact effects from President Trump’s reciprocal tariffs, specific cryptocurrencies are under closer scrutiny this week. Among them are PancakeSwap (CAKE), EOS (EOS), and Pi Network (PI), all of which are showing price movements and trends.
PancakeSwap: A Surge in Trading Volume Amid Meme Coin Hype
PancakeSwap, the largest decentralized exchange (DEX) on the BNB Chain, is drawing attention this week due to its recent performance. As of press time, CAKE has recorded a decline, currently trading at $2.53, a 3.68% decline.
This surge coincided with the DEX reclaiming its position as the top platform in the industry in terms of volume. PancakeSwap’s weekly volume spiked by 60% to $14.8 billion, surpassing competitors such as Uniswap ($8.29 billion) and Raydium ($2.5 billion).
The rise in trading volume is largely linked to the launch of meme coins on the BNB Chain, such as Mubarak and Brocolli. However, this surge raises concerns. The performance of meme coins often follows a predictable pattern: an initial rise followed by a decline as early insiders sell off their holdings.
This trend mirrors the experiences of Solana DEXes like Raydium and Orca, which recorded short-lived volume gains due to the collapse of Solana-based meme coins. As PancakeSwap continues to benefit from the meme coin craze, its long-term sustainability could be at risk if this pattern continues.
EOS: Rebranding Sparks a Market Rebound
EOS is another cryptocurrency to watch this week. The token price increased, rising 2.94% to $0.5734, after a rebranding effort aimed at shifting focus toward blockchain banking. The rebrand involves changing the network’s name to Vaulta, which will introduce a new ticker in April.
While rebrands in the crypto space have produced mixed results, some have been successful. For example, Fantom’s rebrand to Sonic has led to a surge in its total value locked (TVL) and stablecoin market cap.
However, not all rebrands lead to positive outcomes, as seen with Polygon’s transition from MATIC to POL and Elrond’s rebranding to MultiversX. Whether Vaulta will experience sustained growth remains to be seen, but the market is closely watching its developments.
Pi Network: Price Decline Amid Token Unlocks and Exchange Uncertainty
Pi Network’s PI token is also receiving market attention this week. After reaching an all-time high near $3, the token has declined and is testing the crucial support level around $1. This downturn follows a lack of exchange listings from major platforms like Binance, Kraken, Coinbase, and Upbit.
As we pointed out in our previous post, investors are also apprehensive about upcoming token unlocks. 188 million new tokens are set to be released this month, and over 1.6 billion additional tokens are expected to be unlocked over the next year.
Despite the negative price movement, there are signs that Pi Network may be due for a recovery. The token has formed a falling wedge pattern, which typically signals a potential price rebound.
