Hamster Kombat fails to excite meme community

The popular token based on the Ton blockchain posted extreme market volatility, falling by as much as 30% in less than 5 days. The steep drop came after the recent launch and airdrop, which encouraged users to cash out their tokens and swiftly increased selling pressure.

HMSTR, currently trading at $0.0068, is in a consolidation phase but still raises concerns about its market’s stability and potential future price changes.

Price action indicates a possible breakdown as the price movement oscillates horizontally between resistance and support. Furthermore, a downward trend in the price of Hamster Kombat could be caused by the growing selling pressure.

The lower bound of the range, $0.006500, which has been challenged multiple times, is where price action indicates immediate support.

In addition, a lot of players complained about the airdrop. Even though 2.3 million players were barred from Hamster Kombat before the airdrop, a significant number of people still participated, greatly reducing the payouts.

Shortly after Binance announced HMSTR’s initial listing, Hamster Kombat revealed that the token’s futures trading had begun.
It was possible to trade with up to 75x leverage, according to Hamster Kombat on X.

A declining price coupled with increasing volume is a sign of strength for the downward pressure on the token, which is negative. Should this persist, the price may drop even further.

Meanwhile, a spike in the token’s derivatives volume was observed, according to Coinglass statistics. This noteworthy increase suggests that HMSTR is the subject of much speculation. Rising interest in futures combined with declining pricing, affirms a bearish indication, just like the spot volume.