With the return of user enthusiasm in Season 2, the price and trading volume of Hamster Kombat have increased significantly.
Despite reaching 300 million active users at its peak, Hamster Kombat's price failed to meet user expectations. In the ongoing bull market, the token is still experiencing losses, currently trading at $0.003897, down 61% from its all-time high of $0.01004 set two months ago. However, this is not a continuous decline, as the HMSTR price had attempted to rebound earlier after Bitcoin prices rose, but it did not last long. Interestingly, as trading volume peaked, there is still hope.
Analysis of Hamster Kombat price trends
The developers launched this click-to-earn game earlier this year, which became very popular among players. Within a few months, the game attracted 300 million users and eventually launched the cryptocurrency token HMSTR at the end of September. However, due to airdrop distribution issues and the last-minute implementation of a controversial anti-cheat system, Hamster Kombat's price took a hit, plummeting almost immediately after its listing.
Player sentiment has also declined as the active addresses for Hamster Kombat dropped from 300 million in August to 41 million in November, a decrease of 86%. This ultimately impacted the price performance of the HMSTR token. Even today, the token's trading price remains at $0.003897, down 3% in the previous 24 hours and down 15% over the week. However, in contrast, the trading volume has surged significantly, currently at $118.5 million, up 3%. Within this week's timeframe, this number is much larger, indicating that user interest in the token is returning.
Even currently, the token's spot trading volume is quite high, but the peak was a week ago when it reached $1.3 billion, and the permanent token volume in November hit $4 billion. Meanwhile, the HMSTR price surged to $0.005938 before dropping again.
Season 2 launch and sentiment driving trading volume
Hamster Kombat team recently announced some key updates for Season 2 on November 9. Accordingly, the next season is coming soon, bringing many exciting features. Therefore, players are very excited as this season may bring virtual game studio management, better token economics, custom game space creation, community-driven game challenges, and custom game spaces.
Interestingly, according to Hamster Kombat's Telegram post, trading volume hit a new high after November 9. Since then, trading volume has remained high, indicating user interest in the new season and its potential impact on Hamster Kombat's price.
Coinmarket sentiment data also shows that 73% of 89,476 voters have a bullish sentiment toward the token, while only 23% are bearish. Additionally, its on-chain holdings rank second at 11 billion, second only to Aptos, which is impressive.
Meanwhile, the rise in Bitcoin is driving the entire market toward a bull market, with user sentiment becoming greedy, which helps to increase the TV of HMSTR.
Conclusion
With the arrival of Season 2, holders expect the price of Hamster Kombat to rise. More importantly, despite the token's poor performance, about 73% of CoinmarketCap voters believe the token is bullish. This bullish sentiment among users ultimately drove a significant rebound in the token's trading volume and price. Now, it remains to be seen how these sentiments will affect its long-term price, especially in the context of rising Bitcoin prices.
