We prove that every properly edge-colored $n$-vertex graph with average degree at least $100(\log n)^2$ contains a rainbow cycle, improving upon $(\log n)^{2+o(1)}$ bound due to Tomon. We also prove that every properly colored $n$-vertex graph with at least $10^5 k^2 n^{1+1/k}$ edges contains a rainbow $2k$-cycle, which improves the previous bound $2^{ck^2}n^{1+1/k}$ obtained by Janzer. Our method using homomorphism inequalities and a lopsided regularization lemma also provides a simple way to prove the Erdős--Simonovits supersaturation theorem for even cycles, which may be of independent interest.