$HMSTR

Hamster Combat (HMSTR) Price Drops 50% After Airdrop, Signals Further Downside

Hamster Combat (HMSTR) has performed disappointingly since its launch and listing on cryptocurrency exchanges. Despite the initial hype and excitement surrounding the project, the ensuing profit-taking activities have led to a significant price drop over the past week.

With negative sentiment towards HMSTR on the rise, the toncoin-based token appears poised to extend its decline. This analysis covers what you need to know.

Hamster Combat Fails to Convince Investors

On September 26, Hamster Combat distributed 60 million HMSTR tokens to its players, after which it began trading on cryptocurrency exchanges at $0.014.

However, a massive sell-off led to its price dropping rapidly within minutes. Since then, the token has continued its downward trend, dropping by 50% over the past six days. At the time of writing, HMSTR is trading at $0.0047, indicating an 11% decline over the past 24 hours.

Since launch, the price of HMSTR has faced negative pressure, as evidenced by the current negative weighted sentiment indicator of -0.16. This metric tracks the overall state of the market, and negative sentiment indicates that most social media discussions are driven by fear, uncertainty, and doubt, often a precursor to an extended downtrend.