Hamster Kombat (HMSTR), a gaming sensation on the Telegram app utilizing the Toncoin blockchain, has launched its native token, HMSTR. As of September 26, 2024, the market welcomed HMSTR following an extensive airdrop of 100 billion tokens.
The game has rapidly amassed a robust community, boasting 300 million active players. Additionally, it maintains a popular YouTube channel with a subscriber base of 36 million and a Telegram group with 55 million followers.
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Hamster Kombat Price Stalls After Airdrop
The HMSTR token has experienced a notable decline, losing over 55% from its highest value recorded 12 days ago on September 26, 2024. This drop to $0.00452 from the all-time high of $0.01004 followed the release of 60% of HMSTR’s total supply during the recent Hamster Kombat airdrop.
The influx has contributed to a sustained selling trend, which dampens the prospects of a swift price recovery. Despite the current downward pressure, there is potential for price stabilization. The second season of the airdrop campaign is scheduled to run until the first quarter of next year.
Additionally, the anticipated introduction of new features in the Telegram-based game may enhance the HMSTR token’s utility. Such updates are expected to encourage retention among current holders and purchases by new players eager to engage with the upcoming gaming enhancements.
The technical analysis of the daily chart reveals that HMSTR recently broke free from a longstanding descending resistance trend. While this initially signaled a potential reversal from the bearish momentum, the resistance capped the token’s upward movement at $0.0052, indicating that challenges still lie ahead for a full recovery.
The Hamster Kombat price has seen a descending triangle following the bearish trend. As of the reporting, the HMSTR price is trading at $0.004522, marking a decrease of 9.83%. According to CoinMarketCap data, the trading volume over the last 24 hours stands at approximately $95,421,904, a drop of 4.88% from the previous day.
The market capitalization has similarly retracted to $291,114,951, indicating significant selling pressure and investor wariness. This price movement reflects a broader sentiment in the crypto market following the decrease in other crypto markets.
Is a Bullish Trend on the Horizon?
Recent market data reveals a downward trend in several notable altcoins. TON has registered a modest 2% drop, reflecting a slight bearish sentiment. Notably sharper, Notcoin’s value has declined by 6%, signaling a stronger bearish outlook. Meanwhile, the Bitcoin price remains stable at around $62,000 following recent market adjustments.
Hamster Kombat’s current trading scenario demands attention to its support levels. The immediate support is $0.004, while the secondary support is $0.003. A decline below these levels could further dip HMSTR’s price, putting its market resilience to the test.
Conversely, a resurgence in bullish momentum could propel HMSTR above the $0.005 threshold. Such an upward move would signify robust bullish strength, potentially aiming for a $0.007 target. Continuing this positive trend might push Hamster Kombat to challenge the $0.01 resistance mark in the near future.
The daily technical indicators for Hamster Kombat on the cryptocurrency exchange KuCoin show mixed signals. The Relative Strength Index (RSI) stands at 30, indicating an oversold position. This level suggests that the market is not currently overbought or oversold. The Moving Average Convergence Divergence (MACD) shows a slight negative momentum, as evidenced by the histogram moving below the signal line.
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