#HMSTRtoTheMoon $HMSTR #HMSTR_STRONG #BinanceBlockchainWeek
The uncertainty in the crypto market persists, with volatility remaining strong. One of the most notable examples of this is the situation with the Hamster Kombat token. Launched just a few days ago with high excitement and expectations, experts predicted significant gains post-launch. However, contrary to these predictions, the HMSTR price has plummeted, losing over 38% of its value.
HMSTR Declines by 38%
Hamster Kombat (HMSTR) was listed on popular crypto exchanges, including Binance, on September 26. However, this listing period saw some unrest within the community. Just before the listing, the introduction of last-minute anti-cheat mechanisms disappointed millions of users, causing the HMSTR hashtag to trend on social platforms for days and drawing continuous backlash from followers. The significant drop in the HMSTR price over the past six days has further escalated user dissatisfaction.
The token initially experienced a brief surge shortly after launch, reaching a value of $0.01004, but quickly retreated. It currently trades at approximately $0.005411, reflecting a 46% decline. Despite this, HMSTR’s trading volume has increased in line with its popularity. Although trading volume decreased by 35% in the last 24 hours, it remains at a strong $157 million, indicating potential interest. However, the declining price amidst strong volume is not a positive sign.
Technical Indicators and Future Outlook
Users who received airdrops express disappointment due to token distribution and price performance. Currently, Hamster Kombat ranks 162nd by market capitalization, trading with a valuation of $348 million. The circulating supply constitutes 64.38% of the total supply, which positively impacts liquidity.
Despite its high market capitalization, the downward trend for HMSTR continues. Technical indicators reveal significant selling pressure on the token. The Relative Strength Index (RSI) being in the oversold territory confirms the continuation of this downward trend, although it may also hint at a potential reversal in the future. Coinglass reports a 6.76% increase in open positions for futures contracts over the past 24 hours, which is seen as a positive signal.
Other technical indicators, such as DMI and ADI, confirm the current downward trend while also signaling a potential reversal. Nonetheless, the existence of such reactionary sell-offs before the second season starts is not encouraging for the medium and long-term outlook.
Despite being one of the most popular tap-to-earn games on Telegram, attracting over 300 million users, Hamster Kombat’s HMSTR price has declined by 38% since launch. While technical indicators suggest ongoing downward trends, there remains a possibility of recovery in the long term if selling pressure decreases.
In conclusion, despite having a large user base, Hamster Kombat’s token performance continues to fall short of expectations. Stakeholders can evaluate the token’s future performance by monitoring technical indicators.
