- Zcash price plunged 25% in 24 hours, wiping more than $3 billion from market capitalization amid heavy liquidations.
- Speculative unwinding and profit-taking triggered the crash.
- ZEC remains under pressure despite reaching a record 4.96 million shielded coins in circulation.
Zcash price fell more than 25% over the past 24 hours, dropping below the psychologically significant $500 level.
During intense trading that saw daily volume jump by roughly 150%, Zcash slid to a low of $476, erasing large portions of the gains made during an explosive rally that pushed ZEC to highs near $744.
Privacy-focused coins, including Dash, mirrored the moves of the leading token in the sector.
Zcash price tumbles 25% below $500
On November 11, Zcash was trading around $484.
At the time of writing the intraday low stood at $476, representing roughly a 25% decline from intraday highs above $600.
This slide below $500 and the threat of further bearish pressure contrasts with the outlook from a few days prior, when Zcash surged toward $744.
cenový graf Zcash podle TradingView
Investor optimism that ZEC could reach $1,000 drew significant capital inflows, pushing trading volumes to unprecedented levels.
The coin’s rise reflected a broader altcoin mania, with Zcash rising in market-cap rankings to outperform established names such as Stellar and Bitcoin Cash.
Amid profit-taking, frenzied selling pushed daily volume up about 156% to more than $5.14 billion.
On-chain metrics also show some reduction in shielded ZEC. CoinMarketCap lists Zcash’s market capitalization at $7.89 billion, while network data indicate shielded transactions fell from nearly 5 million to roughly 4.84 million.
Zcash price: What’s next?
From a price-technical perspective, a bearish double-top pattern has formed on the 4-hour chart.
The price is below the 50-period exponential moving average and the RSI sits near 39, signaling room for further downside.
Arthur Hayes, a prominent proponent of Zcash’s recent gains, summed up investor sentiment in a post on X.
To sell, or not to sell, that is the question. $ZEC to $10k or $10 ?????????? 🧐🧐🧐🧐🧐🧐🧐 pic.twitter.com/hOgcx5iILc
— Arthur Hayes (@CryptoHayes) November 11, 2025
At the core of the turmoil is a mix of speculative unwinding, structural events and external pressures.
Zcash’s rally—from about $40 in early September to nearly $750 in early November—was driven by halving expectations, capital rotation and a narrative around privacy-focused assets.
Profit-taking intensified the decline after a whale reduced a leveraged position worth $12 million on November 9.
U.S. stimulus expectations, relief following the end of a government shutdown and renewed enthusiasm for ETF-related flows provided firmer foundations for the broader crypto market.
Bitcoin climbed above $105,000, with short-lived volatility caused by profit-taking in the largest tokens.
ZEC’s sharp rally also introduced caution into wider market sentiment.
ZEC could regain momentum after its halving, particularly if interest in privacy tokens picks up again.
However, a decisive move in Bitcoin would likely trigger further outflows from the segment and deepen the correction.
In the short term, a key downside zone to watch lies between $400 and $300.
Bulls were attempting to rebound from $470 at the time of writing, while immediate EMA resistance sits around $530.94.