That's possible because CAKE has been a great platform and still a good DEX, many are still into new tokens and CAKE is been a platform for them.
It's still worth it to hold some CAKE because this platform can offer a lot more options and when do grow more, you can expect new ATH to be made in the future.
Cryptocurrency is down right now, and if you are going to invest you can consider CAKE as one of your option.