Cake never saw its highest price ever again. From there it quickly dropped to twenty dollars, then ten dollars. Now, as the market has turned into a bear, there is a possibility of further decline. In fact, you can buy a piece of cake and put it in a long-term cake apy pool, it's very risky, ignore it.
We can literally say this for bitcoin itself. It was 68k, then dropped under 60k, then dropped under 50k, then dropped under 40k, and now stays under 35k. If we look at things as how they dropped individually then we will imagine them being horrible and it would not make any sense because they would look like they dropped so much that there must be something wrong with them in that case.
However, if you look at them as a market general comparison then you will see that it's not doing that bad, I mean Cake did drop, and dropped a lot for sure, but that doesn't change the fact that the whole market dropped so it shouldn't be of any concern for you.