Why Did The Price Drop After Listing? 📉
🔹 Airdrop Selloff: Over 60 billion tokens were airdropped to 131 million users, leading to an immediate selloff, causing the price to drop by 30%.
🔹 Airdrop distribution issues: Large amounts of airdrops were given to influential people, leading to dissatisfaction and distrust in the transparency of the team.
🔹 Market speculation: Initial price expectations were based on a supply of 10 billion tokens, but the actual supply was much higher, disappointing.
🔹 Uncertain lockup period: The unannounced lockup of 11% of tokens led to more sell-offs as users no longer wanted to hold the tokens.
Price Prediction: What's Next?
🔸 Support: Immediate support is at $0.0060. If this level is broken, we could see a further drop to $0.0050.
🔸 Resistance: The resistance level is at $0.0073, which marks the upper boundary of the current trading range.
Market Capitalization Outlook
Hamster Kombat's market cap is $437 million, well below initial market expectations. Given the post-TGE sell-off, sentiment remains bearish unless we see a significant shift in market sentiment.
