Hamster Kombat token price has dropped more than 30% following the highly anticipated airdrop and token listing.

Hamster Kombat (HMSTR) dropped to $0.0088, bringing its total value to over $574 million, making it the 110th largest cryptocurrency. Its opening price was also significantly lower than its pre-market futures high of $0.3865.

It has been listed on several major centralized exchanges, including Binance, OKX, MEXC, Gate.io, Woo, and KuCoin. Binance has also launched an earning program where participants will have the chance to win 100 million HMSTR tokens.

Data from CoinGecko shows that Hamster has a maximum supply limit of 100 billion tokens, with 64.3 billion tokens in circulation. This drop could happen as many airdrop recipients start selling their tokens.

Hamster Kombat's valuation shows it is smaller than Notcoin (NOT), the first token to be listed with a market capitalization of over $871 million.

Hamster has a larger ecosystem than Notcoin, by a wide margin. It boasts over 300 million players, 37.6 million YouTube subscribers, and 14.3 million X followers.

One possible reason for the price drop is that Hamster has over 35 million tokens locked up, while Notcoin's entire 102.4 million tokens are in circulation.

The biggest short-term risk for Hamster would be a massive sell-off by the millions of people who have accumulated billions of tokens over the past few months. Typically, newly listed Telegram tokens fall shortly after their launch.

Catizen ( CATI ) initially rose to $1,150 after its launch but has since fallen more than 38%. Similarly, Notcoin and Pixelverse have both seen double-digit declines from their all-time highs. On the positive side, the Hamster Kombat airdrop comes at a time when most cryptocurrencies are rallying. Bitcoin ( BTC ) rose to $64,700 while the total value of all coins increased by 3.7% to $2.26 trillion.

Other highly anticipated tokens have also disappointed in the past. Sweat Economy, for example, is down 94% from its all-time high, despite Sweatcoin having over 50 million users before the SWEAT token was airdropped.