PancakeSwap's CAKE token has surged 35% in the past 24 hours and 107% over the past week, coinciding with a rise in trading volume that reached $1.1 billion. BNB has also seen a notable increase of 9.3%, attributed to recent tweets from Binance founder Changpeng Zhao regarding his engagement with memecoins on the BNB Chain. This growth occurs as Bitcoin remains stable around $96,200, showing low volatility since February 8. The price range for Bitcoin, between $95,000 and $98,000, often prompts traders to explore alternative cryptocurrencies, leading to gains in projects like LIDO, INJ, JTO, and HYPE, which have risen between 7% and 9%. The rally in CAKE and BNB is closely linked as CAKE is the native token of PancakeSwap, the leading protocol on BNB Chain. These developments highlight the shifting interest towards altcoins in contrast to Bitcoin's stagnant price movement.

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