📉Hamster Kombat listed on major exchanges but fell 30%, what's the reason?
Recently, the cryptocurrency game Hamster Kombat was listed on major exchanges and attracted much attention. However, surprisingly, its price fell sharply.
🌟Hamster Kombat is a very popular click-to-earn game on the Ton Blockchain. Since its launch six months ago, it has accumulated more than 300 million users and more than 100 million monthly active users. The HMSTR token launched on the Open Network (TON) has also attracted widespread attention. 4.3% of the transactions in the first block interacted with the contract address of Hamster Kombat, which shows its high popularity.
💥But after listing, the price trend of $HMSTR was not satisfactory. The pre-market futures high was $0.3865, but the opening price failed to meet expectations. The initial trading price was $0.014, then fell to $0.011, and soon plummeted to $0.0088. As of the time of writing, the trading price is $0.006791, down 30.42% in the past day, and the market value has also dropped 30% to $437 million.
📊Analyzing the reasons, there are mainly the following points. First, negative market sentiment has surged. HMSTR failed to meet market expectations, which has frustrated investor confidence. Secondly, the total liquidation amount reached $5.1 million in the past 24 hours, the market is bearish, and long position holders lack confidence. Furthermore, from the technical indicators, HMSTR's relative strength index (RSI) is 26, and the moving average (MA) based on RSI is 36.17, indicating that the currency is oversold, selling pressure is greater than buying pressure, and sellers dominate the market.
🎯If the current market conditions continue, the price will fall further to $0.005. However, if a correction occurs, the price could be pushed above $0.010.
In general, the price drop of Hamster Fighter after its listing is the result of a combination of factors. Investors need to pay close attention to market dynamics and make decisions carefully. 💡