Hamster is one of the cryptocurrencies that emerged in the meme coin wave, such as Dogecoin and Shiba Inu. However, the coin has seen a significant decline in its value since its launch, resulting in losses for a large number of investors who bought it. This article aims to review the status of Hamster and analyze the reasons that may contribute to its rise or continued decline, highlighting the technical and analytical aspects.

1. Why is Hamster Coin interesting?

Despite the ongoing decline, there are several factors that are pushing some investors to remain optimistic about the future of the currency:

The nature of meme coins: Many of these coins experience rocky beginnings before achieving sudden rises supported by strong community engagement, just as happened with Dogecoin.

Speculative betting: Some still see Hamster Coin as an opportunity to make quick profits through short-term speculation.

Community Support: If Hamster can build a strong community base and attract more traders, it could provide an additional boost to its value.

2. Technical analysis of the currency condition

Using technical analysis tools, some important indicators can be observed that may give an idea about the future of the currency:

Price trends: By analyzing the daily and weekly charts, it is clear that the currency is in a bearish phase. There are attempts to break this trend, but they often hit strong resistance levels.

Support and Resistance Levels: Strong support points exist at low values ​​where demand increases, but resistance at higher levels prevents a significant rise.

Trading Volume: Low trading volume indicates weak interest from traders, which may mean a lack of liquidity to sustain a price rise.

3. What does Hamster Coin need to go up?

To achieve a clear recovery in price, the currency needs several pivotal factors:

Increased community engagement: The coin relies heavily on community engagement. If it can gain more attention through social media campaigns or influencer collaborations, it could boost its price.

Partnerships or institutional adoption: Cryptocurrencies that enter into strategic partnerships or rely on innovative technical solutions often see their value increase. So if Hamster can strike partnerships or introduce new projects, it could be a reason to attract investors.

Overall Market Improvement: As with most small coins, Hamster’s performance also depends on the overall market condition. If major coins like Bitcoin and Ethereum see gains, meme coins like Hamster may see a similar surge.

4. Future Prospects: Is there a chance for upside?

Based on current analysis, several scenarios for the future of Hamster Coin can be considered:

Temporary Rise: The currency may experience a temporary rise in the event of widespread interest from the community or a large speculative movement, but without a strong foundation, this rise will be short-lived.

Long-term upside: This scenario requires long-term adoption and continued development of the project, as well as partnerships that lead to increased demand for the coin.

Continued decline: If there are no positive developments on the project front or community adoption, the coin may continue to decline or remain at low levels for an extended period.

5. Percentage analysis of the probability of ascent

Based on current analysis and market condition:

Chance of temporary rise (50%-60%): With the possibility of speculative waves or community reaction, the currency may witness a short-term rise depending on the market condition.

Long-term upside opportunity (20%-30%): To achieve a sustainable upside, the currency needs strong support through new partnerships or innovations, which requires time and significant support.

Continued decline (40%-50%): In the absence of any major changes, the current decline may continue unless the market improves or new interest in the currency emerges.

Conclusion

Amid the current market volatility, there is still hope for Hamster Coin to rise if it succeeds in building a strong community or entering into strategic partnerships. However, analysis suggests that the coin may continue to fall unless there are significant developments that contribute to raising its value.