Why is ZEC pumping?

I get it’s an optionally private chain for transactions. It has tech that previously wasn’t quite there, but is now there. A world of “privacy” is something we all want and need. Those are all great things, plus it has a fixed supply similar to bitcoin.

What I don’t get is there are companies working on this within the SOL / ETH space and are successfully making things more private. Why is the chain that only has privacy popping off compared to the chains that can not only build this, but has all of DeFi / CeFi in their hand? The only sense I can make of it is that ZEC is being broadcasted as some type of bitcoin replacement / killer due to the optionally private nature and most importantly, the fixed supply.

If people want this to be a bitcoin 2.0 with the main difference being privacy, won’t most people just simply hoard the coins once again and not transact because they see the fixed supply is the same? I’m trying to understand what I’m missing here so I can buy in, not trying to miss out if this is something of a once in a lifetime event.