$CAKE : In Q3 2025, trading volume reached $58.7B, a record high, but primarily relying on multi-chain expansion and the launch of CAKEPAD. Recently, the price rebounded from $2.60 to $3.48 (+32%), benefiting from the spillover effect of the ASTER trading pair (ASTER accounts for 57% of trading volume on PancakeSwap). However, DeFi competition (such as Uniswap V3) has caused its market share to drop from 40% in 2024 to 25%. The X community discussion is mainly focused on 'stable holding', but lacks a blockbuster narrative.