I saw Cake at 0.5 and thought that was overrated, after all, a financial project called "Pancake" with a token called "Cake" couldn't be serious. I followed it for 1 month and when I saw it, it shot to 8 dollars, so I waited for it to fall and bought the 6. It was one of the best moves I made, but still, I ended up missing the timing, because it reached 40 dollars and I ended up selling it at 15, in that insane fall
Well its not really right to judge a token/coin by its name just because we think its funny or something not serious. The name has nothing to do with the project, its just a front to attract people. But what important is the dev and the team behind it whose working to execute a project that has a purpose. I know cake even before the price is still cheap but didnt had a chance to buy some because I am more focus on other coins that are already existing for years.