As a seasoned researcher with years of experience navigating the dynamic world of cryptocurrencies, I can confidently say that the recent surge in Chiliz (CHZ) is nothing short of remarkable. Having closely followed the crypto market’s ups and downs, I must admit that the resurgence of fan tokens and the impending Pepper airdrop has added an exciting twist to the narrative.
In simple terms, Chiliz, a significant blockchain platform specializing in sports and entertainment, reached its peak in the past 3 months.
On today’s trade, the Chiliz (CHZ) token surpassed a significant barrier, peaking at $0.072 – a level not seen since July 22. It has soared more than 66.50% since it hit its lowest point in 2021.
As an analyst, I’ve noticed a striking correlation: the recent rebound in the market seems to align with the resurgence of most fan tokens. Specifically, the OG Fan Token (OG), being the largest, has experienced a significant surge, climbing by approximately 213% over the past seven days. This uptick has catapulted its market capitalization to a robust $33.42 million.
In the recent timeframe, the Alpine Formula 1 Team Fan Token (ALPINE) experienced a surge of approximately 43%, and similarly, the Santos FC Fan Token (SANTOS) saw a rise by around 41%. As per FanMarketCap, these fan tokens have collectively amassed a market capitalization of more than $313 million.
The CHZ token also rose as investors awaited the upcoming Pepper airdrop, scheduled for Oct. 10.
🌶️ Prepare for the most sizzling fair launch token – PEPPER!
— Chiliz – The Sports Blockchain ⚽🏆 (@Chiliz) October 2, 2024
On the Chiliz Blockchain, Pepper is set to be the pioneering meme coin. While its official purpose and use are yet undefined on its website, it’s clear that it was developed by the community with an intention to seize control and navigate forward, much like taking charge of a horseback ride.
The airdrop arrives as the meme coin sector is experiencing a surge, with all coins monitored by CoinGecko possessing a collective market capitalization exceeding $53 billion. Notable standouts include Popcat (POPCAT), whose market cap has reached $1 billion in recent times, and Neiro (NEIRO), which has skyrocketed by more than 7,000% during the past few weeks.
Chiliz token flips key resistance
The CHZ token has recovered from a price of $0.043 in August to reach $0.07. It transformed the significant resistance level at $0.0715, its peak on Sept. 27, into a support zone. This action invalidated the double-top chart pattern that was developing.
CHZ has surpassed both its 50-day and 100-day Exponential Moving Averages, suggesting that the bullish sentiment is growing stronger.
Consequently, Chiliz might keep climbing, with a key point to observe at around $0.084, which was its lowest dip on April 13.
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2024-10-09 15:52