Hamster Kombat price has decreased by 30% in 24 hours of launch and its volume has surpassed $1 billion.

The rise in volume represents a notable surge in sell-offs as eligible players complained about HMSTR's value.

HMSTR's price continues to move sideways, but data shows that the token could sink below $0.0065 again.

The much-anticipated Hamster Kombat (HMSTR) airdrop finally happened yesterday, September 26. In total, the Telegram tap-to-earn mini app distributed 60 million tokens to “CEOs” involved in playing the game.

However, according to many players, the HMSTR airdrop fell short of expectations, leading most to sell the token as soon as it launched. But what else is happening?

Lackluster Hamster Kombat Aidrop Force Sell-Offs, Players React

The HMSTR token launched on several exchanges at 12:00 UTC. While the cryptocurrency community speculated on the price earlier, it eventually started trading at $0.014.

However, within minutes, the HMSTR price dropped by 20% due to massive sell-offs. This performance is in contrast with the broader market, which saw prices increase notably. Currently, the Hamster Kombat price is $0.0069, representing a 30% decrease in the last 24 hours.

As the price plummeted, the volume surpassed $1 billion. Volume is an indicator of interest in a cryptocurrency. When it increases, there is a lot of buying and selling. A decrease, on the other hand, however, indicates otherwise.

But for HMSTR, the rising volume plus the decreasing price is a bearish sign, as it indicates strength to the downward pressure on the token. If this continues, the price might continue to plunge.

Meanwhile, data from Coinglass shows that the token experienced a surge in derivatives volume. This notable rise indicates significant speculative activity around HMSTR. However, like the spot volume, rising derivatives interest alongside falling price is a bearish signal.

Besides this, many players expressed their disappointment in the HMSTR airdrop, which some said offered an average of $8. However, this outcome wasn’t surprising. Despite Hamster Kombat banning 2.3 million players from eligibility before the airdrop, the sheer number of participants remained large, diluting the rewards significantly.#BinanceLaunchpoolHMSTR #