As a seasoned analyst with over two decades of experience in the crypto market, I have seen countless projects rise and fall, some spectacularly so. The current state of Hamster Kombat (HMSTR) is a classic case of hype versus reality.
Due to less than anticipated performance following its airdrop and exchange listing, Hamster Kombat’s token (HMSTR) has seen a decrease in value. Despite the hype and anticipation surrounding the tap-to-earn Telegram game, the token’s price drop can be attributed to profit-taking activities that occurred post-listing.
Immediately following its listing on several exchanges on September 26, the price of HMSTR began to plummet quickly. This rapid decline was due to investors cashing out their profits, which caused a massive selling wave and resulted in a substantial decrease in value almost instantly.
People anticipated that HMSTR might mirror the performance of Notcoin, a different token which experienced a significant spike during its debut, yet HMSTR failed to achieve the same level of success.
Over the past six days, HMSTR‘s value has plummeted by more than half. Unfortunately, the token continues to struggle in the bear market, with its worth decreasing by approximately 15% in just the last day. As I write this, HMSTR is being traded at $0.004512.
One significant reason for the pessimistic outlook towards the HMSTR token is increasing discontent within its user base, particularly due to concerns about the token’s distribution method. Despite Hamster Kombat boasting a colossal fanbase of over 300 million people, the airdrop distribution to 131 million users did not bring forth the anticipated favorable results.
Hamster Kombat Community Distrust and HMSTR Token Distribution Issues
The unfavorable perception of the HMSTR token might stem from issues related to its distribution being perceived as unfair. Those impacted by the distribution process felt that the guidelines and adjustments prior to the airdrop appeared biased towards influencers, since a larger portion of the tokens were given to them rather than common players.
You lost your community the day you’ve announced your biased allocation for influencers by leaving the whole community 📌
— Crypto with Khan ( SFZ ) (@Cryptowithkhan) September 26, 2024
The way the token was dispersed has resulted in users questioning its reliability, thereby generating apprehension, ambiguity, and worry (FUD). Consequently, this has negatively impacted the token, leading some individuals to unload their HMSTR or refrain from buying it.
Regardless of a less-than-ideal performance in the HMSTR price post-listing, it managed to secure a prominent position within the top tokens that debuted during Q1 of 2024.
Can Season 2 Change the Course for HMSTR?
In September, it was disclosed that Hamster is preparing for its break or interim period, which acts as a prelude to Season 2.
If the second season successfully rekindles interest among the community and maintains player engagement, it may lead to the price surge that some investors had anticipated earlier. For now, though, HMSTR is grappling with doubt and market stress. It remains to be seen if the project can rise above these hurdles and instigate a lasting recovery for the token.
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2024-10-02 17:55