Chiliz turns up the heat: PepperFest’s first birthday brings rewards, contests, and a major community burning as CHZ price nears weekly lows.
Chiliz, the sports blockchain behind CHZ and Socios.com, launched PepperFest on Friday, October 10, marking the first digital anniversary of its community token, PEPPER.
The two-week campaign will run until October 24 across the project’s social and community platforms. It features a surprise airdrop for stakers, a “raid-to-earn” event, creator rewards 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, settling near weekly lows in a volatile cryptocurrency market.
Second Coingeko data, CHZ is trading around $0.0393, with a 24-hour range between $0.0391 and $0.0421 and a trading volume near $88 million.
(Source: Coingecko)
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According to campaign details, PepperFest opened with a 4 trillion token airdrop for users who are already staking on PEPPER. Over the next two weeks, the event will reward community involvement through “raids” and creator challenges.
One hundred creators will earn 500 CHZ each for their content, while engagement on official PepperFest posts, likes, reposts and comments will fuel an ongoing token burn limited to 1 trillion PEPPER through October 24.
The idea is simple: reward activity, strengthen community participation and reduce token supply during the celebration period.
In the meantime, the next one Chiliz chain updatecalled Snake8, is scheduled for Tuesday, October 14 (11:00 CEST). The update alters the validator selection mechanism, which is a randomized block production mechanism with a minimum participation rate.
This could help improve fairness and competition among legitimate Bitcoin holders, which could improve the overall performance of the network.
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 represents a regulatory step that could strengthen partners and distribution in Europe in the fourth quarter.
CHZ’s long-term benefits will depend on three things: the final user count by October 24, how many users join raids and bounties, and whether the October 14 Snake8 update improves network performance for builders and validators.
Broader market trends also continue to matter; Bitcoin swings and global headlines continue to shape risk appetite in the cryptocurrency market.
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CHZ Price Prediction: What does the current CHZ price range reveal about market sentiment?
A recent graph shared from a crypto analyst on X suggests that Chiliz (CHZ) may be close to breakout after nearly seven months of tight consolidation.
You better start praying. This consolidation box will end soon. AND NO. It won’t go to ZERO.
Most likely it will be close and the explosion right after will be crazy..UP!
GL. #CHZ pic.twitter.com/VSntnK5vU8
— 21st Century Cryptocurrencies (@21centurycrypto) October 10, 2025
The analyst noted that the sideways movement “will end soon,” suggesting a possible upward movement in the future.
The daily chart shows that CHZ has been moving within a defined accumulation zone between $0.033 and $0.049 since March 2025.
This range has been tested several times by the token and a classic horizontal has been created, which prominently anticipates sudden movements. CHZ is currently trading between $0.039 and $0.04, which is slightly above important support levels.
(Source: X)
Momentum indicators favor a bullish bias. Since May, the LWTI (momentum indicator) started an uptrend with bullish divergence as the price was flat, indicating an increase in purchasing power.
The green line in the indicator that remains above the 50 line is an indication of positive momentum below the surface.
In case CHZ manages to break above the $0.049 resistance, the next potential upside will be around the $0.066 and $0.088 area, which will correspond to the early 2025 highs.
On the other hand, any failure below $0.033 would jeopardize the formation, although the analyst has ruled out the possibility of a complete reversal.
Instead, they described the impending breakout as potentially “mind-blowing,” suggesting strong confidence that the months-long consolidation phase is nearing an end.
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The post PepperFest Celebrates One-Year Anniversary: How Much CHZ Price Will Rise in the Fourth Quarter appeared first on 99Bitcoins.