I don't think that BNB token is undervalued because among all other top exchanges tokens BNB is the most valuable token, no other comes close to 30$ per token, this is a very promising altcoin for long term hold.
Maybe the termed better is potential long term coin. Yes it is not undervalued and has fair value, this is one of my top bags as I like the potential it have. Yes you are right, the team always have some new products that being release for development and so far can't complained on that. Even the price is volatile you can still benefit by holding it.
I think cake will be massive in the future.
At the time of writing this article, CAKE's price is 0.32$. So, it's still undervalued.
Based on it marketcap, still has a room for growth especially CZ seems to be fond to support them 100%. So I think it's still a good buy.