The popular Tap to earn game, HMSTR token, joined the crypto market a few weeks ago, but the Hamster Kombat price has failed to adhere to the user’s expectations. A mini-game launched on Telegram, gaining 300 Million users, has still failed to perform well in the crypto market. To many surprises, this downfall began days before the HMSTR airdrop. However, the token is slowly attempting recovery, raising holders’ expectations from the HMSTR price to hit $1 in 2024.
Analyzing the Hamster Kombat Price Performance
This telegram mini-game was launched at the beginning of the year, but its native token, HMSTR, entered the crypto market in the previous month. Because of this delay, the hype around the token was uncontrollable as the demand has grown exponentially. However, that faded away soon, as the HMSTR airdrop team blocked millions of users (found cheating in the game) from the token distribution. It resulted in a major backlash, whose impact is clearly visible in the Hamster Kombat price.
The token had a price of 0.0118 USDT just a day before listing, but it declined to $0.009496 on the listing day. However, the HMSTR price is struggling below $0.1 to this day after its continuous downtrend ever since then. At the time of writing, its price is $0.004226 with a market capitalization of $272.49M after facing a 52% drop in value. However, the user’s interest is rising in this token as the trading volume of $89.78M is up by 90% in the last 24 hours. The Hamster Kombat price might recover from the ongoing consolidation if the demand increases.
More importantly, the HMSTR airdrop season 2 is already in the queue, where the team has promised new features. If that fulfills the user’s expectation, a recovery is assured.
Will HMSTR Price Hit $1 in 2024?
The recent surge in Hamster Kombat’s TV is due to the users becoming active in the market with the anticipation around Uptober. More importantly, the ongoing Bitcoin price rally has boosted the entire crypto market, turning user sentiments from fear to neutral. As a result, many altcoins are performing quite well, including HMSTR, as it is also up by like 1%.
Interestingly, the HMSTR price is creating a pattern similar to Notcoin’s recovery pattern, as pointed out by many analysts. This Hamster game itself is based on Notcoin’s properties like tap-to-earn, so there are high expectations from the holders to see this token boost just like Notcoin did. However, the NOT price peaked at an ATH within two weeks of the airdrop, but that is not the case with HMSTR, disappointing many.
Moreover, it is difficult to see the Hamster Kombat price around the $1 mark because the token has already failed on the charts despite the hype. Now, with its investors losing interest and its biggest competitor entering the market, the chances are declining, especially after the Hamster Kombat Vs X Empire debate.
The post Hamster Kombat: Will HMSTR Price Hit $1 in 2024? appeared first on CoinGape.
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