As a child, Caicedo played football "in rich boy" neighborhoods, bet money and always won.[1] At the age of 15, he had an unsuccessful trial with Santos, one of the most successful teams in Brazil.[1] He has been compared to Ecuador international Felipe Caicedo.[2] In February 2021, he joined Bulgarian club CSKA Sofia.[3] In July 2022, Caicedo relocated to Mexico, signing a contract with Tigres UANL.[4]
Caicedo made his debut in a professional tournament later that month in the 2021 Copa América, coming on as a second half substitute in the opening match against Colombia.[7] Caicedo scored his first goal for the senior national team on 25 March 2022, converting a penalty in another World Cup qualifying match against Paraguay in a 3-1 loss.[8]