Sign Up on MEXC
After the launch, the X Empire price faced a complete downtrend, heavily disappointing its holders. The Elon Musk-inspired Tap-to-earn game token recently went live in the crypto market, but its value dropped 45% in the first 24 hours. More importantly, this happened despite its price jump to an ATH in the first hour of the launch, but in the next few hours, a downtrend spoiled the game. The Airdrop and token listing on multiple exchanges created high selling pressure, making the investors concerned about it following the HMSTR pattern, which is a bigger disappointment.
HMSTR, the native token of the Hamster Kombat Telegram mini-game, was also popular at some point. It has a user base of 300M followers but still became a disappointment, with the month-long downtrend. Even at the time of reporting, the Hamster Kombat price is struggling, and the same might happen with its competitor X Empire.
X Empire Price Surged 400% Before 45% Decline
The Telegram mini-game is now officially listed on various popular crypto exchanges like KuCoin, Gate.io, Bitget, and many others, showing its high demand in the market. This hype is also visible in the charts, where the X Empire price surged more than 400% within an hour of listing, cheating an all-time high of $0.0001301. However, ever since then, the price has plummeted more than 52%, currently at $0.00006192, which is problematic.
However, it is understandable that the 34.5 billion X tokens airdrop distribution is causing high volatility. The sellers went active right after the X Empire price peaked within the first hour, initiating a downtrend. Regardless, it has a market capitalization and trading volume of $30.16M and $118.30M, which are still decent.
Interestingly, this hype was the result of all the interesting benefits the team promised. For example, they have promised to make the community their priority, allocating the majority of the tokens to the community. Additionally, there is zero locking and vesting period. Now, the confusion is whether this hype will initiate an uptrend or the downtrend will persist.
Can X Empire Price Follow The HMSTR Pattern?
The X airdrop and TGE event was supposed to happen in the previous month, but there were some unexpected delays. However, that became a profitable point for this token, as with delay, its hype grew even higher until the airdrop team made a controversial decision, banning 44 million from the airdrop and only allowing 6M. It was the same mistake that the HMSTR team made, which led to heavy criticism and its downfall, and the same might happen with this as well.
Another disappointing factor is that most analysts anticipated a listing price of $0.0002, but the actual listing is even half of it, at $0.00009599. This broke the player’s hope of witnessing the X price surging to the $1 mark soon.
Another concerning point is this heavy downtrend within 24 hours of the launch, which also happened with Hamster Kombat. However, as the team has implemented a phased distribution, the volatility should not impact its performance for long. More importantly, it will create more excitement for the remaining players. For now, it is uncertain how the X Empire price will perform next, but it is certain if it fails to overcome the sellers, the price might continue to decline just like HMSTR did.
- Bitcoin Treasuries Add Nearly $1B BTC This Week as Holdings Cross 1M BTC
- Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH
- Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure
- Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline
- World Liberty Financial Discloses Reason for Blacklisting 272 Wallets
- HBAR Price Forecast: Analyst Targets 123% Rally as ETF Approval Odds Hit 90%
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
