On September 26, the price of Hamster Kombat dropped by 30%, following the team’s largest airdrop on the Ton blockchain. Currently trading at $0.006810, the token is under heavy selling pressure as recipients cash out their airdrop rewards, leading to the price decline. The token is now consolidating, raising questions about its next move.
Why Is Hamster Kombat's Price Falling After the Exchange Listing?
Despite being listed on major exchanges, several factors have contributed to Hamster Kombat's price drop after its airdrop of 60 billion tokens to 131 million users:
1. Post-Listing Sell-Offs: Airdrop recipients quickly sold their tokens after the listing, triggering a sharp price decrease.
2. Airdrop Distribution Issues: Influencers received large amounts of tokens through referrals, creating dissatisfaction and doubts about the team's transparency.
3. Market Speculation: Initial price expectations were based on an estimated supply of 10 billion tokens. When the actual supply was revealed to be much higher, it led to disappointment and further selling pressure.
4. Lock-Up Period Uncertainty: An unannounced lock-up period for 11% of the tokens created confusion, causing even more sell-offs as participants hesitated to hold the token.
Hamster Kombat($HMSTR ) Price Prediction: What's Next?
The price is currently trading sideways between support and resistance, hinting at the possibility of a downward move.
Support: Immediate support is at $0.0060. If breached, the price may test $0.0050.
Resistance: The upper resistance level is at $0.0073, marking the top of the current trading range.
Market Cap Outlook
Hamster Kombat’s market cap is currently $437 million, significantly lower than the initial expectations before its listing. Following the sell-off after the TGE event, the outlook remains uncertain unless market sentiment improves.
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