Should you buy CHZ after the increase due to FIFA World Cup hype?

Chiliz (CHZ/USD) has experienced an increase in popularity and value as communities prepare for the FIFA World Cup 2022.

Chiliz is a cryptocurrency created for sports and entertainment, where every sporting organization can utilize its network to create fan tokens.

FIFA World Cup hype as a catalyst for growth

Chiliz is a platform that empowers sports enthusiasts to engage with their favorite sports teams. This is accomplished by them getting rewards, bonuses, as well as tickets for events, alongside shopping opportunities.

In the latest Chiliz news, due to the popularity of Chiliz as a crypto technology within the sports industry, its native cryptocurrency, CHZ, has seen a 31% increase in the last week.

The CHZ token is used to purchase fan tokens and even acts as the platform’s internal currency.

Chiliz also operates the blockchain-based sports entertainment platform, Socios, where fans can vote on the platform with their tokens through smart contracts.

The FIFA Football World Cup 2022 will begin on November 20, which will spark even more usage of this platform and more demand for CHZ and fan tokens. Is now the right time for investors to begin filling their portfolios with CHZ balances? 

Should you buy Chiliz (CHZ)?

On November 4, 2022, Chiliz (CHZ) had a value of $0.24242.

CHZ/USD Chart by Tradingview.

The all-time high of the Chiliz (CHZ) cryptocurrency was on March 13, 2021, when it reached a value of $0.878633. At its ATH, CHZ was trading $0.636213 higher in value, or 262% higher.

To get a better perspective surrounding its current price point, we will review its historical performance to see if it has been bearish or bullish.

Chiliz (CHZ), from its 7-day price performance, had its low point at $0.189437, while its high point was at $0.248013. Here we can see a bullish run for the token, which increased by $0.058576 or 31%.

As we move forward to more recent performance charts, its low point in the last 24 hours was at $0.231529, while its high point was at $0.243793. This is just an increase of 5% or by $0.012264.

Investors looking to profit from the cryptocurrency should buy CHZ, as they can expect CHZ to climb to $0.4 by the end of November 2022.

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