Why did HMSTR continuously decrease its price after listing on the exchange?
👉Airdrop Sell-off: Over 60 billion tokens were distributed to 131 million users, resulting in an immediate sell-off and a 30% price drop.
👉Airdrop Distribution Issues: A large number of airdrops were allocated to influencers, leading to dissatisfaction and a loss of trust in the team's transparency.
👉Market Speculation: Initial price expectations were based on a supply of 10 billion tokens, but the actual supply is much higher, causing disappointment.
👉Uncertain Lock-up Period: The unexpected lock-up of 11% of tokens has triggered further sell-offs, as users are no longer interested in holding the tokens.
Price Prediction:
🔹 Support Level: Immediate support is at $0.0060. If this level breaks, we could see a drop to $0.0050.
🔹 Resistance Level: Resistance is at $0.0073, marking the upper boundary of the current trading range.
Market Capitalization Outlook: The market cap of Hamster Kombat is currently $437 million, significantly lower than initial market predictions. Sentiment remains bleak following the post-TGE sell-off, unless we see a substantial shift in market confidence.
Price is acting very strongly, watch for liquidity zones at milestones. they can help you reduce your risk
#HMSTR #hamsterkombat #Crypto
