Privacy coin Zcash (ZEC) has been in the spotlight in recent months due to a sharp rally that started in late September, but it has fallen more than 38% in the past seven days as traders took advantage of overbought conditions.
Zcash has fallen another 5.66% in the past 24 hours and is trading at $331 at the time of writing. After a strong rally from September to November, the stock is down 34.51% over the past seven days as traders begin taking profits.
Zcash’s decline over the past 24 hours came despite a broader market rally where a small number of altcoins recorded significant gains and captured the market’s attention.
Amid the selloff, Grayscale founder and ZCash bull Barry Silbert hinted that ZCash could be on the verge of a big move, saying he was “busy making popcorn for the short squeeze.”
Busy making popcorn in preparation for the big short squeeze
— Barry Silbert (@BarrySilbert) December 3, 2025
Silbert previously cited Zcash as one of the privacy coins he was particularly excited about, predicting that privacy would become a more popular investment theme.
Are we in for a big jump in Zcash?
Zcash has been steadily declining since reaching a high of $739 on November 16th, in the process losing the key support it held when it began its rally in September, to a daily SMA50 of $436.
The conversation surrounding Zcash has focused on what happens next for its price, with Grayscale founder Barry Silverbart hinting that a major price rally is coming, fueled by a short squeeze.
In response to the Zcash founder’s tweet, Solana contributor Mert Mumtaz asked the Grayscale founder to make a bid for ZEC. Given Silbert’s history with Zcash, this wasn’t far-fetched.
To this, the Grayscale founder playfully replied, “We’re busy making popcorn for the big short squeeze.”
A short squeeze, in the context of the Grayscale founder’s tweet, refers to a rapid rise in price primarily due to an excess of short selling rather than underlying fundamentals. Short traders expect prices to fall further, so a sudden wave of buying pressure “locks” them out of the market, causing prices to soar.