ADate: Thu, Sept 26, 2024, 05:08 AM GMT
The much-anticipated listing of Hamster Kombat (HMSTR), a popular tap-to-earn Telegram game, is happening today on major exchanges like Binance and Bitget. The hype is undeniable, with the project boasting a massive 300 million players, a YouTube channel with 36 million subscribers, and a Telegram group of 55 million members. Naturally, those who participated in the airdrop are eager to cash in. But the big question for many is: What’s the best move—hold or sell?
To answer this, let's look at some recent history.
How Have Previous Telegram Miniapp Listings Fared?
There have been three notable Telegram-based projects that were listed before Hamster Kombat: Notcoin (NOT), Dogs (DOGS), and Catizen (CATI). Here's what happened:
1.Initial selling pressure: Like clockwork, each project faced selling pressure as airdrop participants flooded the market to sell their tokens.
2.Post-dip recovery: Despite the sell-off, both NOT and DOGS managed to recover from their initial lows and recorded gains in the weeks following their listings.
However, the long-term data isn't as rosy:
1.Notcoin (NOT) is now down 70% from its all-time high.
2.Dogs (DOGS) is down 48%.
3.Catizen (CATI) has fallen 33% from its peak.
What’s the Best Move—Hold or Sell?
If history is any indication, there’s a good chance HMSTR could face an initial dip due to the selling pressure from airdrop holders. Selling early to secure gains and rebuying later at a lower price might be a smart strategy for those looking to maximize profits. However, there’s also the potential for a recovery, similar to what happened with NOT and DOGS, so holding might also pay off in the long run.
Conclusion
The decision to hold or sell ultimately depends on your risk tolerance and long-term outlook. The data suggests airdrop holders may want to take advantage of the initial listing price and buy back once the selling pressure cools off.
Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
