<ul><li>The price of PancakeSwap (CAKE) has surged 16% as its total value locked (TVL) hits $1.62 billion.</li><li>The rise in CAKE price is attributed to the increasing on-chain activity of PancakeSwap, which is the leading DEX by volume traded.</li><li>The demand for the Mubarak (MUBARAK) memecoin has contributed to the overall on-chain activity on PancakeSwap.</li><li>According to technical analysis, CAKE's price is aiming for $5 in the near term, supported by a macro market reversal pattern.</li></ul>

PancakeSwap DEX Leads the Way: CAKE Soars 16% as TVL Hits $1.62B

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