Coinspeaker
5 hour ago
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ZEC Plummets 22% as Analyst Predicts Drop Below $200

Zcash (ZEC) experienced a 22% decline, falling toward the $360 range. This significant drop affected traders with aggressive positions at higher prices, turning potential profits into substantial corrections.

  • A trader who went long on 20,386 ZEC is facing $4.4 million in unrealized losses and deposited an additional 1.5M USDC to avoid liquidation.
  • ZEC is trading 94% below its all-time high, breaking critical support levels and leading analysts to predict further declines possibly under $200.
  • Analyst Crypto Patel anticipates a temporary bounce between $400-$450 before any potential deeper crash.

ZEC price action inside a rising wedge

Vitalik Buterin's Advisory

Ethereum co-founder Vitalik Buterin cautioned the ZEC community against adopting token-based governance, arguing it could compromise privacy by favoring short-term goals over foundational principles.

ZEC Market Developments

While ZEC faces challenges, PEPENODE, a new crypto project focused on virtual meme coin mining, has attracted attention by raising $2.2 million in its presale. The project offers unique digital mining experiences and high staking rewards.