Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Hamster Kombat Token Crashes 39%: What Happened to HMSTR?

Hamster Kombat Token Crashes 39%: What Happened to HMSTR?

CoineditionCoinedition2024/09/29 16:00
By:Anisha Pandey
  • Hamster Kombat (HMSTR) has nosedived 39% in the past week.
  • The viral token has achieved a market cap of $382.4 million since debut.
  • HMSTR made an all-time low on September 29 at a price of $0.005562.

Hamster Kombat, the viral Telegram-based tap-to-earn game faces uncertainty as crypto investors react to the massive fall in the price of HMSTR, the game’s native token.

According to the data from CoinMarketCap, HMSTR has fallen over 39% in the past seven days. At the time of writing, it is trading at $0.006104, down 39.58% from its all-time high of $0.01004, which it hit four days ago.

The Hamster Kombat token generation event took place just days ago, and the altcoin has struggled since then. The airdrop for the viral game was one of the most anticipated events of 2024 for the crypto space, following the Notcoin (NOT), ZkSync (ZK), LayerZero (ZRO), and other airdrops.

In the past 24 hours, HMSTR trading volume rose 49.64% to $249 million, and the cryptocurrency has reached a market capitalization of $382.4 million, ranked 149th in the crypto market. Most of the trading volume for the cryptocurrency occurs on Binance for the HMSTR/USDT trading pair.

Read also: TON Blockchain’s Biggest Test Yet: Hamster Kombat Airdrop

Upon listing on Binance , the world’s largest crypto exchange by trading volume, HMSTR token surged 581%, achieving a billion dollars in trading volume on the very first day, surpassing the majority of altcoins in the crypto space.

HMSTR Accumulation Dips

The accumulation/distribution graph shows whether an asset is currently being accumulated by investors or if distribution is prevailing, which is a bearish indication for prices.

Hamster Kombat Token Crashes 39%: What Happened to HMSTR? image 0 Hamster Kombat Token Crashes 39%: What Happened to HMSTR? image 1

The chart provided by TradingView above confirms a significant decline in the accumulation of HMSTR, which suggests that investors are selling off their tokens to capitalize on the gains made during the listing.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

MARA's stock jumps after raising $1 billion via convertible notes to buy more bitcoin

MARA Holdings announced the successful closing of its $1 billion offering of 0% convertible senior notes due 2030.The bitcoin miner plans to allocate around $199 million of the proceeds to repurchase $212 million in principal of its existing convertible notes due 2026. The remaining funds will be used to acquire more bitcoin.

The Block2024/11/21 16:11

Gold loses luster as institutional demand fuels bitcoin price surge, analysts say

Bitcoin’s 46% surge over the past month, contrasted with gold’s 3% decline, highlights a shifting investor preference toward alternative store-of-value assets, analysts say.Derivatives traders are buying up bitcoin call options ahead of Trump’s inauguration, signaling strong bullish sentiment for the beginning of 2024.

The Block2024/11/21 16:11

SEC is 'engaging' Solana ETF applicants: report

SEC “engaging” on Solana ETF applications, sparking optimism for potential approval in 2025.VanEck, 21Shares, and Bitwise lead Solana ETF filings amid pro-crypto White House hopes.SOL token rises 4.6% to $247.91, bolstered by Solana’s strong DeFi ecosystem and demand.

The Block2024/11/21 16:11