{"id":13837,"date":"2025-10-20T17:38:50","date_gmt":"2025-10-20T17:38:50","guid":{"rendered":"https:\/\/bitunikey.com\/news\/heres-why-altcoins-like-floki-synthetix-and-zcash-are-rising-today\/"},"modified":"2025-10-20T17:38:55","modified_gmt":"2025-10-20T17:38:55","slug":"heres-why-altcoins-like-floki-synthetix-and-zcash-are-rising-today","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/heres-why-altcoins-like-floki-synthetix-and-zcash-are-rising-today\/","title":{"rendered":"Here\u2019s why altcoins like\u00a0 Floki, Synthetix, and Zcash are rising today"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin and most altcoins rebounded on Monday, continuing a performance that started during the weekend.<\/p>\n<div id=\"cn-block-summary-block_2a97b1f004b4fe7b2d4a97306fb620cc\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Floki price surged after Elon Musk sent a post saying that his dog was now the X CEO.<\/li>\n<li>Synthetix token jumped after the developers launched the trading competition.<\/li>\n<li>Zcash price jumped as it slowly forms a double-top chart pattern.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Bitcoin (BTC) rose above the key resistance at $111,000, while the market capitalization of all coins jumped to over $3.76 trillion. Some of the top altcoins like Floki (FLOKI), Synthetix (SNX), and Zcash (ZEC) were among the top gainers.<\/p>\n<h2 class=\"wp-block-heading\">Floki price surges after Elon Musk X post<\/h2>\n<p>Floki, a top meme coin, jumped by 30% after an X post by Elon Musk and as supply on excanges dipped. In an X post, Elon Musk said that Floki, its dog, was now back as X CEO. This is was notable as Musk is the world\u2019s richest person with a net worth of over $450 billion, according to Bloomberg.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Fl\u014dki is back on the job as \ud835\udd4f CEO! <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/Zu29Dos24r\">pic.twitter.com\/Zu29Dos24r<\/a><\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1980216257069945132?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">October 20, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Musk\u2019s tweet on Floki, brought back memories of when Musk used to pump meme coins like Dogecoin. His post came as the amount of tokens on exchanges continued falling. There are now 2.04 trillion tokens in exchanges, down from 2.26 trillion in September.\u00a0<\/p>\n<p>Smart money investors have also boosted their holdings to 478 million tokens from a low of 473 million last month.\u00a0<\/p>\n<p>Still, it is unclear whether the Floki price will continue rising as the hype surrounding Musk\u2019s X post will ultimately fade.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Synthetix price jumps as trading competition starts<\/h2>\n<p>Synthetix token has been in the spotlight in the past few weeks as it jumped by over 370% between its lowest level in September to its highest point this month. It then pulled back last week and bottomed at $1.3310.<\/p>\n<p>SNX price rebounded on Monday after the developers published the list of eligible wallets eligible for the new trading competition that has started.\u00a0<\/p>\n<p>This competition is part of its approach for the launch of its perpetual futures trading platform, which will compete with the likes of Aster and Hyperliquid. The 100 traders are competing for a $1 million prize.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Synthetix Trading Competition on Ethereum Mainnet launches October 20.<\/p>\n<p>\ud83d\udd39 $1,000,000 top prize<br \/>\ud83d\udd39 100 traders<br \/>\ud83d\udd39 The first perp DEX on Ethereum Mainnet<\/p>\n<p>Let&#8217;s go!<\/p>\n<p>\ud83e\uddf5\u2b07\ufe0f <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/7r71e1j4uu\">pic.twitter.com\/7r71e1j4uu<\/a><\/p>\n<p>\u2014 Synthetix \u2694\ufe0f (@synthetix_io) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/synthetix_io\/status\/1973704304008814600?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">October 2, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\">Zcash price resumes its uptrend to form a double-top pattern\u00a0<\/h2>\n<p>Meanwhile, the Zcash price resumed its strong uptrend on Monday, rising by over 20% and reaching its highest level in over a week. It has jumped in the last four consecutive days and is up by 40% from its lowest level this month.<\/p>\n<p>Zcash started its rally when Grayscale announced that it was launching a fund to track the coin. This fund has now accumulated over $85 million in assets despite having a 2.50% expense ratio.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">ZEC price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>Technically, the coin seems to be in the process of forming a double-top pattern at $295.45 and a neckline at $188.80. If this happens, there is a risk that it will resume the downward trend, and possibly retest the support at $188.80.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and most altcoins rebounded on Monday, continuing a performance that started during the weekend. Summary Floki price surged after Elon Musk sent a post saying that his dog was&hellip;<\/p>\n","protected":false},"author":1,"featured_media":13838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=13837"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13837\/revisions"}],"predecessor-version":[{"id":13839,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/13837\/revisions\/13839"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/13838"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=13837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=13837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=13837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}