The constant downtrend pattern in the Hamster Kombat price chart has worried its holders for weeks now. This tap-to-earn game had a heavy demand among players and 300 Million game players’ support, but its native token still failed on the charts. At the time of reporting, the CoinmarketCap data indicates a 67% loss since the launch. However, the case is different today, as the HMSTR price has slowly begun to climb, giving hope to its holders to make significant returns on their holdings.

Hamster Kombat Price Surged 3% Today

The HMSTR token is moving up for the first time since its launch, shocking a few as the constant downtrend has made them lose hope in this token. Many were concerned that the hype is dying for trending crypto coins, including HMSTR. However, a new hope has risen, as the Hamster Kombat price is up 3% in the last 24 hours, currently at $0.002845. Though the surge is nothing compared to its overall drop, it is significant enough to conclude that the hype is not entirely dead and that there is a possibility that the token will bounce up.

As the Bitcoin price attained a 4-month high, currently trading at $71,127.66, the bulls are returning to the market. Bitcoin (BTC) has a high dominance, and its performance also impacts the altcoins. Because of this new bullish movement, the user’s sentiments turned to greed in the market, resulting in the pump in HMSTR price. More importantly, the trading volume of $46.55M after a 41.49% surge indicates that user activity is rising for the token.  As a result, its market capitalization has grown to $183.07M, making it the 248th biggest cryptocurrency.

Is Hamster Kombat Price Capable of $0.1?

The recent growth in the Hamster Kombat price is impressive, as the token followed a downtrend for weeks. However, this does not confirm the further gains, as the current surge happened with the overall market’s recovery. More importantly, despite its popularity, it has many challenges restricting its capability, beginning with a high token supply. Even its competitor X Empire price performance is challenging its demand in the market.

HMSTR has a supply of 100B HMSTR, so the user demand is fulfilled, limiting its performance. Analysts suggest introducing a token burn mechanism to limit its supply and create scarcity. However, the representative has never said anything about it.

Secondly, even since the airdrop, there has been high volatility around the token, which caused this drop in the first place. Even after the team disclosed season 2, the players are disappointed with the previous airdrop. The analysts have reported declining enthusiasm among players and a decreased gaming activity this month.

Last but not least, as the HMSTR price has been down since its launch, the sellers might dominate again, dropping its value. The technical analysis also indicates a strong selling pressure for the token, which could limit its performance in the future. However, today’s RSI data of 24.331501 confirms the buying actions, which could continue for some time, indicating further gains.

Interestingly, a few crypto analysts have anticipated the Hamster Kombat price to hit $0.67 by 2025. However, a target of $0.1 is unachievable for now, as it is 71% away from its ATH target of $0.01004, but in the long-term, there is a minor possibility to see the token growing to new highs, specifically with Bull Run.

The post Is Hamster Kombat Price Capable of Hitting $0.1? appeared first on CoinGape.

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