As the $HMSTR token listing on Binance approaches, it's essential to weigh your options carefully. Here are some critical points to consider before making any decisions:
1. Token Supply Concerns: With a massive supply of 100 billion tokens, there could be significant selling pressure once trading begins. Be cautious of how this might affect price stability.
2. Vesting Strategy: The team has set aside tokens for âSeason 2â under a vesting schedule, which raises questions about long-term intentions. This could indicate potential future dilution and may not inspire confidence among investors.
3. Community Trust Issues: Recent actions, such as banning legitimate users, have led to a loss of trust within the community. This sentiment can contribute to increased sell pressure as investors look to exit.
4. Pre-Market Price Indicators: Early price signals suggest that $HMSTR may not perform well initially. Itâs crucial to be aware of these indicators before making any moves.
5. Lack of Utility and Credibility: Assess the actual utility of $HMSTR. What benefits does it offer? Research the team behind the project and their responsiveness to community concerns. Transparency and credibility are vital for any successful token.
6. Comparison with Other Projects: Tokens like $NOT, $DOG, and Blum have shown more visibility and community engagement, which sets a high bar for $HMSTR. Lack of similar engagement can be a red flag.
Given these factors, many may consider a cautious approach, potentially selling a significant portion of their holdings. Personally, Iâm letting go of 90% of my investment to minimize risk.
Make your decision wisely to avoid being left holding the bag when the market shifts.
