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It has been almost three weeks since the HMSTR token joined the crypto market, but the Hamster Kombat price-performance was nothing less than a huge disappointment. HMSTR is the native token of the popular tap-to-earn game with more than 300 million active users. However, such high popularity failed to save the token’s performance on the charts. 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 $0.003863 with a market capitalization of $248.68M after facing a 55.62% drop in value. However, the user’s interest is totally lost from this token, as its trading volume has declined to $32.45M. The Hamster Kombat price can only recover from the ongoing consolidation if the demand increases drastically.
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 might happen.
Will HMSTR Price Hit $1 in 2024?
A few days ago, there was a heavy surge in Hamster Kombat’s TV due to the users getting active in the market with the anticipation around Uptober. However, the Hamster users’ anticipation does not exist anymore. Regardless, there is an ongoing Bitcoin price rally before the US elections that has boosted the entire crypto market, turning user sentiments from fear to neutral. As a result, many altcoins are performing quite well, but HMSTR is still struggling.
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.
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