- Zcash price has plunged 25% in 24 hours, erasing over $3 billion in market cap amid heavy liquidations.
- Speculative unwind and profit-taking triggered the crash.
- ZEC price is under pressure despite hitting a record 4.96 million in shielded coins in circulation.
Zcash price has dropped by more than 25% in the past 24 hours, dipping below the psychologically significant $500 mark.
Amid heavy trading that saw daily volume spike by 150%, Zcash fell to lows of $476, paring a notable chunk of the gains in an explosive rally that pushed ZEC to highs of $744.
Privacy coins, including Dash, have mirrored the sector lead’s movements.
Zcash price crashes 25% to under $500
On Nov. 11, Zcash traded near $484.
At the time of writing, this was off lows of $476 but still showed a 25% dip from intraday highs above $600.
This dip below $500 and threats of further bearish strength contrast with the outlook just days ago, when Zcash stormed to $744.
Zcash price chart by TradingViewInvestors were attracted by visions of ZEC reaching $1,000; therefore, they poured in billions.
This drove trading volumes to unprecedented levels. Meanwhile, the coin’s rise mirrored a broader altcoin frenzy, with Zcash outpacing even established players like Stellar and Bitcoin Cash in market cap rankings.
However, amid profit taking, frantic selling has daily volume up 156% to over $5.14 billion.
On-chain metrics also show some shielded ZEC outflows. Per CoinMarketCap, Zcash has a market cap of $7.89 billion, while data on the network’s page show shielded pool transactions have fallen from near 5 million to about 4.84 million.
Zcash price: What’s next?
In terms of price, a bearish double-top pattern has emerged on the 4-hour chart.
The price is also below the 50-day exponential moving average, and RSI is dowsloping near 39 to suggest further room for bearish movement.
Arthur Hayes, a key proponent of Zcash gains in recent weeks, summed up investor sentiment in a post on X.
At the centre of this turmoil lies a confluence of speculative unwind, structural events, and external pressures.
Zcash’s rally, which ballooned from $40 in early September to near $750 by early November, came amid halving anticipation, capital rotation and the privacy narrative.
However, profit taking, with a whale’s deleveraging of a $12 million position on November 9, has exacerbated the slide.
US stimulus expectations, relief over the end of the government shutdown, and renewed ETF-related staking enthusiasm have put the crypto market on firmer footing.
Bitcoin has pushed above $105,000, with brief spikes driven by gains in the largest tokens.
At the same time, ZEC’s sharp rally has introduced a note of caution into broader sentiment.
ZEC could still regain momentum following its halving, particularly if interest in privacy tokens strengthens again.
But a decisive reversal in Bitcoin would likely trigger further outflows from the segment and deepen the correction.
In the near term, the key downside area to watch sits in the $400–$300 range.
Bulls are looking to bounce off the $470 level as of writing and the EMA hurdle sits at $530.94.
Source: https://coinjournal.net/news/zcash-price-crashes-25-to-under-500-whats-next/
