The token $HMSTR associated with the popular game Hamster Kombat has experienced a sharp decline of 27% in the last 24 hours, losing $25 million in market capitalization. According to CoinMarketCap, the token price has fallen to $0.00107, which is 60% lower than the monthly high. The main reason for the crash was mass sell-offs by large holders (whales) and pressure from excess supply due to the unlocking of tokens earned in the game. The trading volume in a day increased by 266%, indicating panic among investors.
Analysts note that the weak tokenomics of HMSTR, specifically 64 billion tokens in circulation out of a maximum of 100 billion, increases pressure on the market. Moreover, the popularity of the game is declining: the number of active players has decreased from 300 million to 41 million in three months. This creates additional risks for the long-term value of the token.
Investors are advised to exercise caution, as further sell-offs may worsen the situation. Keep an eye on market news to stay updated on changes! Subscribe to #MiningUpdates for current updates on cryptocurrencies and GameFi.
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