Hamster Kombat, which launched in March, has surpassed 240 million players worldwide. The game has gone viral, as has the previous tap-2-earn success and popular games like Toncoin, Pixelverse, Tapswap and many others that operate on the Ton blockchain.
Unlike other tokens, Hamster has attracted a large global user base, with many expecting significantly larger rewards than the stated rewards. The game is simple: To manage a fictional exchange where the CEO is at the top, you must adopt a virtual hamster.
Hamstar Kombat's HMSTR was officially listed today, along with a massive airdrop at 12:30 PM UTC. However, before that, Binance locked up over $3 billion in tokens, which Binance promised to give away.
However, the token has dropped more than 20% from its peak price on the futures market after starting trading at a peak of $0.015000. Many gamers on X (formerly Twitter) have started complaining about the current price and how it affects their expectations.
After the initial surge, HMSTR fell sharply, similar to Dogs and Catizen, falling to around $0.008714. This sudden price action draws attention to the volatility that is common in newly released coins. The initial excitement may have led to a quick sell-off.
The price of Hamster Kombat has found a bottom at around $0.0085. If broken, this barrier could lead to further declines; this is essential to maintain the bullish momentum.
0.010 is the immediate resistance level. A strong breakout above this level could indicate a trend change and a possible rise to $0.0150 or higher.
As the market continues to decline, sentiment appears bearish. However, the relative strength index, or RSI, is approaching oversold territory, suggesting a recovery could be on the cards if buying demand picks up.
Short Term Analysis
Bullish Scenario: If Hamster Kombat price sustains above the $0.0085 support level, the price could rise above $0.010, which could lead to further gains.
Bearish scenario: With the target set at $0.0070, a break below $0.0085 could indicate additional downside risk.
Why Are Market Prices Falling So Sharply?
The anticipation and excitement from traders may have led to a massive sell-off, thus affecting the current price of the Kombat token. Additionally, the token faced backlash due to the controversy surrounding its model and initial listing on Binance which created doubts in the minds of players and investors about the Hamster token, thus putting pressure on the token before the listing and leading to the decline.
While crashes like this are nothing new to the cryptocurrency market, if the token price rises above the current price, players could start making some profits from the tokens they mine.
Is Hamster Kombat Worth the Expectation?
Players grind to increase Points Per Hour (PPH), which was initially proposed as a key metric for token distribution, due to Hamster Kombat's explosive growth. However, many gamers felt their efforts were in vain when the creators changed the focus to "key collection".
The fact that many players were excluded from the highly anticipated Season 1 airdrop due to rule changes only added to the discontent. Furthermore, 2.3 million accounts were deleted for allegedly cheating, leaving many angry and arguing that time was wasted trying to earn points.
Even players who qualified for the airdrop were left unimpressed as the rewards fell short of expectations. Some have suggested that specific influencers who did minimal work received a disproportionate amount of HMSTR through referrals.
Another controversial move was the implementation of a no-notice vesting exercise, where 88.75% of the tokens could be claimed on the day of listing, with the remainder being unlocked over ten months.
It's too early to say that Hamster has failed, but the fact is that it has shattered the expectations of investors, who are now increasingly worried about the outcome of these tokens.
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