The recently launched Hamster Kombat, a viral Telegram-based tap-to-earn game, is facing mounting uncertainty as its native token, HMSTR, experiences a sharp decline in value.
This development comes shortly after the token’s remarkable surge following its listing on Binance, the largest cryptocurrency exchange by trading volume. However, despite its early success, the token has struggled to maintain stability, leaving crypto investors on edge.
After its listing on Binance, HMSTR saw an impressive 581% surge in price, leading to a staggering billion dollars in trading volume on its first day, outperforming many altcoins. This spike initially gave the token significant traction in the crypto space. However, this bullish momentum was short-lived, with the token experiencing notable volatility over the past 24 hours.
Current Market Performance
As of press time Hamster Kombat was trading at $0.005795, down 4.10% from the previous day. The token’s market cap is $373 million, placing it at #150 on CoinMarketCap, with a 24-hour trading volume of $242,063,656.
The circulating supply is reported at 64.4 trillion HMSTR tokens, with a maximum supply of 100 trillion. The token’s rapid fluctuation in price has raised concerns among investors, with many watching closely for signs of further market movements.
The price chart for HMSTR over the past day shows significant volatility. The token’s price began around $0.00601 before plunging to a low of $0.0057.
While there was a brief recovery later in the evening of September 29, the price continued to fluctuate, culminating in a short-lived surge to above $0.0061 in the early hours of September 30. Despite this upward spike, the token quickly retraced its gains, dropping back to the $0.0058 range.
Source: CoinMarketCap
Currently, the token appears to be facing resistance levels at $0.0057, with investors eagerly monitoring for signs of stabilization. The volatility has particularly attracted short-term traders looking to capitalize on the rapid price movements.
Technical Indicators Signal Mixed Outlook
In recent trading activity for the HMSTR/USDT pair on Binance, the token showed a slight upward movement, reaching $0.005770 after hitting a low of $0.005700.
The MACD indicator reflects a bearish trend, as the MACD line has crossed below the signal line, although the narrowing gap suggests potential stabilization. The weakening downward momentum, as seen in the histogram, points to a possible reversal in the near future.
Source: TradingView
Moreover, the Relative Strength Index (RSI) is set at 41.09 meaning that the stock is near the oversold level.
The overall RSI is down for the relative price decline, but a slightly upward slope in the recent data signifies a reversal. Still, technicals have reversal signs that raise doubts about the ability of short-term market signals to guide traders appropriately.
The post Hamster Kombat Price Prediction September 30: HMSTR Dips 4.10%, But Will $0.0057 Support Hold? appeared first on Coinfomania.
