- As the PEPPER airdrop approaches, the CHZ cryptocurrency has recovered to a three-month high.
- Launched fairly, Meme Coin aims to give the reins back to the community.
- Despite two CHZ selling walls looming, a retest of the yearly high is still underway.
Sports-focused blockchain Chiliz (CHZ) is advancing toward entering the top 100 cryptocurrencies by global market capitalization. Having surpassed the $0.15 price level twice this year, Chiliz is looking to hit this milestone again thanks to solid volume.
Harvesting peppers that revitalizes the lives of Chiliz holders
Chiliz’s community is excited about the upcoming PEPPER airdrop. A new meme coin is causing a stir across social media. According to blockchain intelligence platform Santiment, Chiliz is among the top three most popular cryptocurrencies based on social mentions.
Along with Bitcoin (BTC) and Nubcoin (NUB), the Chiliz cryptocurrency is mainly discussed because of the excitement surrounding PEPPER. Digital funds will soon be distributed to eligible wallets as the Chiliz blockchain completes the snapshot for the airdrop on October 10th.
Additionally, Binance, the leading cryptocurrency exchange by trading volume, recently announced support for the PEPPER airdrop. All Binance customers holding CHZ will receive 150 PEPPER tokens when the airdrop begins. CHZ emphasizes a fair launch mechanism that ends pre-mining or initial coin offering (ICO).
Is CHZ cryptocurrency ready for $0.15 in the next bull cycle?
“Everyone starts on equal footing.” Read X’s message to see the snapshot and issuance of plant-based meme coins. The Chiliz blockchain community appears to have been encouraged by this message, with daily trading volume surpassing $500 million for the first time.
Zooming in on the daily chart, the weekly outlook for Chiliz doesn’t look so bleak as the cryptocurrency is close to breaking the $0.073 resistance level. CHZ has hit above $0.15 twice: during the spring bull market in March this year and in late May 2024.
The sports and entertainment blockchain’s native cryptocurrency successfully rebounded from its yearly low of $0.05 on September 18. This has led several large investors to jump back on the CHZ train and increase their cryptocurrency holdings. Chiliz is up 35% in the last 30 days, hovering around $0.07 at the time of publication.
Whale Alert detected a large transaction, with one whale withdrawing 650 million tokens worth $46.4 million to an on-chain wallet. This accumulation movement may suggest that large investors expect an eventual price rise. Nonetheless, for CHZ to get back above $0.15, it will have to break two large resistance barricades.
Firstly, 3.63 billion CHZ tokens are held between $0.069 and $0.073, which is very important for Chiliz’s weekly period. If claimed, CHZ would face another hurdle of $0.094 to $0.115. This resistance area is because it encounters 29.3B token holders split across 8.43K addresses.
On the flip side
- The freshly launched PEPPER meme coin has a massive supply of 8,888,888,888,000,000.
- Available only on the Chiliz chain, the price of PEPPER is currently $0.000000002891 3 hours after launch.
Why This Matters
Meme Coin can be considered a play on the blockchain built on top of it. The fun and light-hearted nature of MEMCOIN serves as an ideal stimulus for building a strong and loyal community.
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