Zcash price has gone parabolic, pushing it to its all-time high, making it one of the best-performing tokens. ZEC jumped to $1,171, up by 530% from its lowest level this year and nearly 4,000% from last year’s low. This surge has brought its market capitalization to nearly $20 billion, making it the 20th-biggest coin in the industry. 

Zcash has overtaken Dogecoin, Monero, and Chainlink

ZEC price has been one of the best-performing coins since last year, when it went parabolic following years of consolidation. This surge has coincided with the rising demand for privacy tokens, including popular names like Monero and Dash. 

Zcash has soared as demand from retail and institutional investors has remained at an elevated level. For example, the recently launched Grayscale Zcash ETF (ZCSH) has gained substantial assets and now has gained over $463 million in assets under management (AUM). This growth makes it one of the fastest-growing ETFs in the crypto industry. 

Zcash is also seeing more usage in its shielded addresses. Data shows that the number of shielded tokens has risen in the past three consecutive weeks. It jumped to 4.85 million tokens, the highest level since June, and much lower than last month’s low of 4.32 million. 

READ MORE: ARB price prediction: How Robinhood Chain growth is boosting Arbitrum

The shielded address aspect is an important one because of how Zcash works. Zcash is a crypto project similar to Bitcoin. The only difference is that it offers two types of tokens: shielded and unshielded. Users selecting shielded addresses prefer to have their transaction details private. 

In this case, transaction details like the sender, receiver, and amounts are hidden from the public. This is different from other top cryptocurrencies, where the transaction details are in a public ledger. As a result, Zcash has become popular among users who prefer private transactions. 

It is also popular in cybercrime operations, a move that has become relevant because of its deep liquidity. For example, data shows that the token had a 24-hour volume of over $1.6 billion, higher than most tokens. The amount of ZEC tokens in exchanges has also continued falling, a sign of the rising accumulation.

Regulations have also helped Zcash and other privacy tokens. Under Gary Gensler, regulators took a tough stance on privacy tokens, arguing that they were promoting illicit activity. This has changed during the Trump administration.

Zcash price technical analysis

ZEC price chart | Source: TradingView

The daily chart shows that the ZEC price has gone parabolic in the past few months. It has already jumped above the crucial resistance level of $688, its highest level in May this year and November last year. Moving above that level confirmed the bullish outlook. 

The token has also moved above the bullish pennant pattern it formed in August. This pattern is made up of a vertical line and a symmetrical triangle. In most cases, this pattern normally leads to more gains. 

These patterns suggest that the token may surge to the resistance level of $1,500. The risk, however, is that the token has become highly overbought and has diverged from the historical moving averages, raising the possibility of a mean reversion.

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The crypto market is doing well this weekend, with altcoins doing better than Bitcoin. Some of the top gainers are coins like Arbitrum (ARB), Zcash (ZEC), and PancakeSwap (CAKE). This article provides a forecast for top coins like Dogecoin (DOGE), Ripple (XRP), and Venice Token (VVV). 

Dogecoin price prediction

The daily chart shows that the DOGE price has remained inside a narrow range in the past few months. It remained between the support and resistance levels of $0.067 and $0.0790 between June 24 and August 20th. In some instances, this consolidation is usually a sign that investors are accumulating the token.

DOGE price has now moved above the important resistance level of $0.0790, confirming a bullish breakout. It has also retested it, in a process known as a break-and-retest, which is a common continuation sign in technical analysis.

The token has remained above the 50-day Exponential Moving Average (EMA), while the Relative Strength Index (RSI) has jumped above the neutral level of 50. 

This performance has coincided with the higher volume, with the 24-hour figure rising to over $1.49 billion. Its futures open interest have risen, a sign that investor demand is rising. However, DOGE ETF inflows have struggled, with their outflows hitting $343k this month.

Therefore, technicals suggest that the DOGE token may continue rising in the foreseeable future, with the next key resistance level to watch being at $0.1183, its highest level in May this year. Such a move would imply a 30% surge from the current level.

XRP price forecast

XRP token has held steady in the past few weeks and is hovering near its highest level in August. This rebound happened after it formed a falling wedge pattern, which is made up of two descending and converging trendlines. This pattern normally leads to a strong bullish breakout.

The token’s rally has coincided with the ongoing demand for its ETFs. XRP ETF inflows jumped by over $159 million last month and have already added over $13 million this month. The supply in key exchanges like Binance and Coinbase has continued to fall.

Technically, XRP has moved above the 50-day moving average, a sign that bulls are in control for now. It has formed a bullish flag pattern. Therefore, there is a likelihood that the coin will have a strong bullish breakout, potentially to this month’s high of $1.6975.

XRP price chart | Source: TradingView

Venice Token price forecast

The VVV token has rebounded in the past few days, moving from a low of $9.88 in July to the current $17.05. It has jumped above the important level of $14.71, its highest level on July 26 and the neckline of the double-bottom pattern. 

The token has moved above the 50-day moving average. However, there are signs that it has formed a double-top pattern at $18.48 and a neckline at $16. This pattern suggests that a reversal is possible. Similarly, the Relative Strength Index (RSI) has dropped from the overbought level of 80 to 60.

VVV price chart | Source: TradingView

On the positive side, the token may benefit from the upcoming Anthropic IPO, which may boost top AI coins. If this happens, the token may jump to the year-to-date high of $21.41, which is about 25% above the current level. 

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Anthropic, the giant company in the artificial intelligence (AI) space, is planning to launch the biggest IPO in the coming weeks. As this happens, more details, including banker selection and prospectus release date are coming out.

Goldman Sachs and Morgan Stanley scoop major roles

One of the closely-watched move whenever a company as large as Anthropic is going public is the selection of bankers who will lead the process. In this case, there are reports that Morgan Stanley and Goldman Sachs will be the ones to do this. Morgan Stanley will have the “lead left” role, while Goldman Sachs will be the stabilization agent, ensuring that the stock trades well after its IPO.

Other banks expected to participate in this process will be Barclays and JPMorgan. Eventually, all these companies will likely share over $500 million in fees. In the last SpaceX IPO, they shared a pool of $500 million, with Goldman Sachs and Morgan Stanley taking $100 million each. 

Anthropic prospectus may come as soon as this week

Another important aspect is the filing of the prospectus, which is normally known as the S1. This is an important document that shares all the vital details in a company. It includes details such as its business process, profits, revenues, and its free cash flow. 

The document is vital because Anthropic has been a private company and has not been obligated to release any documents. With it going public, it will now need to provide more information to help investors make solid decisions. 

The prospectus will also help it during its roadshow, a process where the management talks to investors. According to the FT, this prospectus will be filed with the SEC as early as this week.

Anthropic total addressable market (TAM)

Anthropic has made several important announcements in the past few months. For example, the management sees the total addressable market at $30 trillion, higher than SpaceX’s $28 trillion. 

The most recent disclosures also showed that its revenue continued soaring this year, with the revenue run rate hitting $65 billion at the end of July. That was a sevenfold increase from a year ago, and is higher than what OpenAI made.

Anthropic has overtaken OpenAI by focusing on its models, which are the most advanced in the industry. This growth helps it charge more money than OpenAI by focusing on corporate clients. 

The risk, however, is that its growth is coming at an enormous cost, with the company spending billions of dollars a month. It is paying SpaceX over $1.5 billion a month for computing capacity and has inked more deals recently.

The upcoming Anthropic IPO will benefit some of its biggest investors. Amazon’s stake in the company will be over $400 billion thanks to its $8 billion investment. Other companies set to benefit are Google and Nvidia.

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