- CHZ crypto reclaims a three-month high as PEPPER airdrop approaches.
- The fair-launch meme coin aims to give back the reins to the community.
- A retest of the yearly high is still in play despite two impending CHZ sell walls.
The sports-centered blockchain Chiliz (CHZ) is making strides towards making it back to cryptoโs TOP 100 by global market cap. Breaching past the $0.15 price range twice this year, Chiliz is now looking to repeat this milestone, boosted by a solid trading volume.
Pepper Harvest to Spice Up Chiliz Holder Life
As Chilizโs community is excited about a looming PEPPER airdrop; the new meme coin is creating buzz across social media. According to the blockchain intelligence platform Santiment, Chiliz made it into the TOP 3 most popular cryptos based on social mentions.
Sponsored
Alongside Bitcoin (BTC) and Nubcoin (NUB), Chiliz crypto is mostly discussed because of the excitement surrounding PEPPER. As the Chiliz blockchain completed the snapshot for the airdrop on October 10, the digital funds will be distributed to eligible wallets soon.
In addition, Binance, the leading crypto exchange by trading volume, has recently announced support for the PEPPER airdrop. Every Binance customer holding CHZ is set to receive 150 PEPPER tokens once the airdrop is launched. CHZ highlights the fair launch mechanism, which ends pre-minting or initial coin offerings (ICOs).
Is CHZ Crypto Poised for $0.15 Next Bull Cycle?
โEveryone starts on equal footing,โ reads the message on X, confirming the snapshot and issuance of the plant-based meme coin. Chiliz blockchainโs community seems to be encouraged by the message, picking up a daily trading volume above $500 million for the first time.
Zooming out of the daily charts, the weekly perspective for Chiliz is not looking too dim, as the crypto is close to breaking the $0.073 resistance level. CHZ tacked on above $0.15 twice this year, during the Spring bull run in March and again in late May 2024.
The sports and entertainment blockchainโs native crypto successfully bounced back from the yearly lows of $0.05 hit on September 18. This has convinced several large investors to jump back on the CHZ train and increase their crypto holdings. Chiliz picked up 35% over the latest 30-day period to hover around $0.07 at publication.
Whale Alert detected large transactions, one whale withdrew 650M tokens to an on-chain wallet worth $46.4M; this accumulation move could hint at large investors expecting an eventual price jump. Nevertheless, for CHZ to reclaim $0.15 and above, two massive resistance barricades would have to be defeated.
Firstly, 3.63B CHZ tokens lie between $0.069 and $0.073, which is critical in Chilizโs weekly timeframe. If claimed, CHZ will find another hurdle at $0.094 to $0.115, as this resistance territory meets holders with 2.93B tokens, split between 8.43K addresses.
On the Flipside
- The fresh-out-the-gate PEPPER meme coin has a massive supply of 8,888,888,888,000,000.
- Only available on the Chiliz chain, PEPPER is currently priced at $0.000000002891 three hours into launch.
Why This Matters
Meme coins could be considered a leveraged play on the blockchain built atop. The fun and light-hearted nature of memecoins serves as an ideal stimulus for building strong and loyal communities.
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