The recent launches of HMSTR coin from Hamster Kombat and CATI coin from Catizen AI have resulted in substantial price declines, with losses reaching up to 50%. These coins, which had recently achieved their highest prices, now face significant depreciation in value.
Major Drop in Coin Prices
Hamster Kombat’s HMSTR coin has dropped approximately 52%, currently valued at $0.0046. Meanwhile, Catizen AI’s CATI coin has decreased by 45% over the past month, trading around $0.45.
Severe Value Loss in Notcoin
Another popular Telegram game, Notcoin (NOT), has also experienced notable losses, plummeting 13.2% in a single day to $0.0075. Since its peak in June, Notcoin has seen a staggering 74% decline, reflecting similar price fluctuations within 2024.
Overall Decline in the Crypto Market
In the last 24 hours, the overall cryptocurrency market has fallen by 5.1%. Bitcoin has dipped 3.5%, now priced at $61,000, a trend also mirrored in global financial markets. The Dow Jones Industrial Average in the United States has similarly decreased by 0.41%.
Launch of Hamster Kombat and Reactions
Hamster Kombat drew attention with the introduction of HMSTR coin last week, resulting in mixed reactions among its 300 million players. The anticipated coin distribution for 129 million players fell short of expectations.
General Situation in Global Markets
Amid the cryptocurrency downturn, panic has also struck global financial markets. Most indices in U.S. stock markets closed in the red, while oil prices rose by 3%, marking the only positive development in the market.
The recent losses underscore the importance of portfolio diversification and closely monitoring market movements for investors.
