The recent decline in the price of Hamster Kombat (HMSTR) can be attributed to several factors, primarily linked to the aftermath of its airdrop and listing. Following a massive airdrop on September 26, 2024, where over 60 billion tokens were distributed, many recipients immediately sold off their tokens. This led to a sharp 43% price drop, driven by the sudden surge in supply and lack of buying pressure to absorb the sales. The price has continued to drop, and HMSTR is currently trading at around $0.0038.
Additional factors contributing to the price decline include confusion surrounding token distribution, issues with influencer allocations, and an unexpectedly high token supply. These issues led to decreased confidence in the project. As a result, many traders are now betting against HMSTR, further exacerbating the sell-off.
Without a change in market sentiment or new developments from the project, HMSTR may continue to face downward pressure.
