Chiliz turns up the heat: PepperFest’s first birthday brings rewards, contests, and a major community burn as CHZ price trades near 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 runs through October 24 across the project’s social and community platforms. It features a surprise airdrop for stakers, a “raid-to-earn” event, creator bounties paid in CHZ, and a community-driven burn that could remove up to one trillion PEPPER from circulation.
The launch comes as CHZ trades between $0.039 and $0.042, hovering near its weekly lows in a choppy crypto market.
According to Coingecko data, CHZ is trading around $0.0393, with a 24-hour range of $0.0391-$0.0421 and trading volume near $88M.
(Source: Coingecko)
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According to campaign details, PepperFest opened with a 4 trillion-token airdrop for users already staking 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 a rolling token burn capped at 1 trillion PEPPER through October 24.
The idea is simple: reward activity, strengthen community participation, and reduce token supply during the celebration period.
Meanwhile, the next Chiliz Chain upgrade, called Snake8, is scheduled for Tuesday, October 14 (11:00 CEST). The update alters the mechanism of selecting the validators, which is a randomized block-producer mechanism with a minimum participation rate.
This could help to enhance fairness and competition among legitimate holders of Bitcoin, which could enhance the overall performance of the network.
In September, the group stated that Socios Europe Services was allowed in the MiCA framework of the EU.
Another regulatory measure that Chiliz launched is a MiCA-compliant CHZ white paper, which is a regulatory step that may reinforce partner and distribution in Europe in Q4.
Whether CHZ benefits in the long run will depend on three things: the final burn count by October 24, how many users join the raids and bounties, and whether the Snake8 upgrade on October 14 improves network performance for builders and validators.
Broader market trends still matter too; Bitcoin’s swings and global headlines continue to shape risk sentiment across the crypto market.
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CHZ Price Prediction: What Does the Current CHZ Price Range Reveal About Market Sentiment?
A recent chart shared by a crypto analyst on X suggests that Chiliz (CHZ) could be nearing a breakout after nearly seven months of tight consolidation.
#CHZ $Bears.
You better start praying. This consolidation box will soon END. And NO. It's not going to ZERO.
It will most probably be close and the explosion right after will be mind blowing hard..UP!
GL. #CHZ pic.twitter.com/VSntnK5vU8
— 21st Century Crypto (@21centurycrypto) October 10, 2025
The analyst noted that the sideways movement “will soon end,” hinting at a possible upside move ahead.
The daily chart shows CHZ moving within a defined accumulation zone between $0.033 and $0.049 since March 2025.
This range has been repeatedly tested by the token and has been made a classic horizontal, which preeminently anticipates sharp movements. CHZ is currently trading between $0.039 and $0.04, which is marginally higher than the important support levels.
(Source: X)
Momentum indicators are in favor of a bullish inclination. Since May, the LWTI (momentum indicator) started on an upswing trend with a bullish divergence as the price was flat, indicating a buildup in buying power.
The green line in the indicator remaining above the 50 line is an indication of a positive momentum under the surface.
In case CHZ can break above the resistance of $0.049, the next potential upside will be around the area of $0.066 and $0.088, which will correspond with the highs at the beginning of the year 2025.
On the other hand, any failure below $0.033 would undermine the formation, although the analyst ruled out the possibility of a complete turnaround.
Instead, they described the coming breakout as potentially “mind-blowing,” suggesting strong confidence that the months-long consolidation phase is close to ending.
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The post PepperFest Hits 1 Year Anniversary: How High Will CHZ Price Climb in Q4 appeared first on 99Bitcoins.
