Chiliz turns up the heat: PepperFest’s first anniversary brings rewards, competitions and a sizable community as CHZ price trades near weekly lows.
Chiliz, the sports blockchain behind CHZ and Socios.com, spear PepperFest on Friday, October 10, marking the first digital anniversary of its community token, PEPPER.
The two-week campaign runs until October 24 on the project’s social and community platforms. It includes a surprise player drop, a “raid to win” event, creator bounties paid in CHZ, and a community-driven burn that could remove up to a trillion PEPPER from circulation.
The launch comes as CHZ trades between $0.039 and $0.042, hovering near its weekly lows in a volatile crypto market.
According to Coingecko data, CHZ is trading around $0.0393, with a 24-hour range of $0.0391 to $0.0421 and trading volume near $88 million.
(Source: Coingecko)
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According to campaign details, PepperFest opened with an airdrop of 4 trillion tokens for users already staking on PEPPER. Over the next two weeks, the event will reward community engagement through “raids” and creator challenges.
One hundred creators will each earn 500 CHZ for their content, while engagement on official PepperFest posts, likes, reposts, and comments will fuel an ongoing token burn capped at 1 trillion PEPPER until October 24.
The idea is simple: reward activity, strengthen community participation and reduce the supply of tokens during the celebration period.
Meanwhile, the next Chiliz Channel Upgradecalled Snake8, is scheduled for Tuesday, October 14 (11:00 a.m. CEST). The update changes the validator selection mechanism, which is a mechanism for producing random blocks with a minimum stake rate.
This could help increase fairness and competition among legitimate Bitcoin holders, which could improve overall network performance.
In September, the group said Socios Europe Services was authorized under the EU’s MiCA framework.
Another regulatory measure launched by Chiliz is a MiCA-compliant CHZ white paper, which is a regulatory step that can strengthen partners and distribution in Europe in the fourth quarter.
The long-term benefits of CHZ will depend on three things: the final number of burns by October 24, the number of users who join raids and bounties, and whether the Snake8 upgrade on October 14 improves network performance for builders and validators.
Broader market trends are also important; Bitcoin fluctuations and global headlines continue to shape risk sentiment in the crypto market.
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CHZ Price Prediction: What does the current CHZ price range reveal about market sentiment?
A recent painting common by a crypto analyst on
You better start praying. This consolidation box will end soon. And NO. This is not going to ZERO.
It will most likely be close and the explosion right after will be breathtaking..UP!
GL. #CHZ pic.twitter.com/VSntnK5vU8
– 21st Century Crypto (@21centurycrypto) October 10, 2025
The analyst noted that the sideways movement “will end soon,” hinting at a possible upward move.
The daily chart shows that CHZ has been moving in a defined accumulation zone between $0.033 and $0.049 since March 2025.
This range has been tested several times by the token and has become a classic horizontal, which anticipates sudden movements par excellence. CHZ is currently trading between $0.039 and $0.04, which is slightly above important support levels.
(Source: X)
Momentum indicators are in favor of an uptrend. Since May, the LWTI (Momentum Indicator) began an upward trend with a bullish divergence while the price was stable, indicating an accumulation of purchasing power.
The indicator’s green line remaining above the 50 line is an indication of positive momentum below the surface.
If CHZ manages to break through the $0.049 resistance, the next potential upside will be around $0.066 and $0.088, which will match the early 2025 highs.
On the other hand, any failure below $0.033 would undermine the formation, even though the analyst ruled out the possibility of a complete reversal.
Instead, they described the upcoming breakout as potentially “mind-blowing,” suggesting strong confidence that the months-long consolidation phase is about to end.
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The article PepperFest Celebrates its First Anniversary: How High Will CHZ Price Rise in Q4? appeared first on 99Bitcoins.
