The much-anticipated Hamster Kombat (HMSTR) token is now live on the Toncoin blockchain, home to 100 million active users. As expected, HMSTR's price dropped from around $0.1 to approximately $0.0068. This launch has driven a significant surge in trading activity, leading to congestion on the blockchain and record-high TON fees as users rushed to claim their HMSTR rewards.
Despite the network activity, Toncoin's price remains resilient, recently rebounding from lows near $4.45 and consolidating below $6. It's currently near the crucial resistance of the 200-day MA at $6.2, with technicals suggesting a potential breakout. Although the recent pullback saw the token lose pivotal support, it quickly rebounded, hinting at a re-entry into a bullish pattern.
The long-term outlook for Toncoin appears extremely bullish, with indicators pointing to an imminent short-term rally. With its status as one of the most traded coins, a surge to double-digit figures seems likely. However, concerns about its ties to Telegram could pose challenges ahead. Keep an eye on TON!
