The HMSTR value appears unlikely to hit $0.1 anytime quickly, contemplating that over 60% of the token’s provide was put in circulation following the Hamster Kombat airdrop. The HMSTR token additionally continues to witness vital promoting strain, which has led to a value drop of over 50% from its present all-time excessive (ATH).
What Is Keeping Hamster Kombat Below $0.1
The token’s circulating provide of 64.37 billion HMSTR is principally what’s holding its value beneath $0.1. An increase to $0.1 implies that the Hamster Kombat can have a market cap of $6.43 billion. However, for now, such a market cap for the crypto token is unlikely doable, contemplating the crypto market’s complete market cap.
For the HMSTR value to achieve such a market cap, the broader crypto market might want to expertise exponential development. For context, solely the fifteen largest crypto tokens by market cap at the moment boast a market cap of $6.4 million and above. As such, it’s unlikely that HMSTR will witness a value surge to $0.1 anytime quickly.
Moreover, Hamster doesn’t have any predefined burn mechanism in place. As such, the token stays inflationary and would solely change into much less priceless as they launch extra tokens into circulation. Hamster launched a whopping 64% of its complete provide of 100 billion HSMTR upon launch. 60% of the provision went to the neighborhood.
This was a daring transfer, contemplating {that a} vital variety of these neighborhood members had been already prone to dump their tokens upon receipt of their airdrop. This finally created a scenario whereby the token’s provide exceeded its demand, which contributed to the downward strain it confronted upon launch. Despite its heavy reputation, the Hamster Kombat downtrend has continued.
The HMSTR value is at the moment down over 50% from its present ATH of $0.01004. The token might as soon as once more witness a provide shock when season 2 of the Hamster airdrop ends. However, the season 2 airdrop marketing campaign received’t finish till Q1 of subsequent yr, which means that the token’s value might obtain some stability earlier than then.
HMSTR Price To Recover Like NOT Did?
Crypto analyst Crypto Hunter has raised the potential of Hamster Kombat having fun with an identical value restoration as Notcoin. The NOT token fell by 80% following the Notcoin airdrop earlier this yr. However, the token went on to file a 5x enhance in value after its preliminary value decline.
The analyst’s accompanying chart confirmed a similarity between each HMSTR and NOT’s value actions after their respective airdrops. In line, Crypto Hunter believes that Hamster Kombat has the potential to develop and rise above $0.01.
At the time of writing, HMSTR value is round $0.00479, up over 2% within the final 24 hours. However, buying and selling quantity is down by over 42%, with $78 million traded throughout this era.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto information author and editor who has lined matters that lower throughout DeFi, NFTs, sensible contracts, and blockchain interoperability, amongst others. Boluwatife has a knack for simplifying essentially the most technical ideas and making it simple for crypto newbies to know. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The introduced content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.
