The HMSTR worth 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 worth drop of over 50% from its present all-time excessive (ATH).
What Is Holding Hamster Kombat Beneath $0.1
The token’s circulating provide of 64.37 billion HMSTR is especially what’s maintaining its worth beneath $0.1. An increase to $0.1 signifies that the Hamster Kombat may have a market cap of $6.43 billion. Nonetheless, for now, such a market cap for the crypto token is unlikely potential, contemplating the crypto market’s complete market cap.
For the HMSTR worth to realize such a market cap, the broader crypto market might want to expertise exponential progress. 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 worth surge to $0.1 anytime quickly.
Furthermore, Hamster doesn’t have any predefined burn mechanism in place. As such, the token stays inflationary and would solely grow to be 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 availability went to the neighborhood.
This was a daring transfer, contemplating {that a} vital variety of these neighborhood members have been already more likely to dump their tokens upon receipt of their airdrop. This finally created a state of affairs whereby the token’s provide exceeded its demand, which contributed to the downward strain it confronted upon launch. Regardless of its heavy recognition, the Hamster Kombat downtrend has continued.
The HMSTR worth 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. Nonetheless, the season 2 airdrop marketing campaign gained’t finish till Q1 of subsequent 12 months, which means that the token’s worth might obtain some stability earlier than then.
HMSTR Value To Recuperate Like NOT Did?
Crypto analyst Crypto Hunter has raised the potential of Hamster Kombat having fun with an analogous worth restoration as Notcoin. The NOT token fell by 80% following the Notcoin airdrop earlier this 12 months. Nonetheless, the token went on to document a 5x improve in worth after its preliminary worth decline.
The analyst’s accompanying chart confirmed a similarity between each HMSTR and NOT’s worth actions after their respective airdrops. In line, Crypto Hunter believes that Hamster Kombat has the potential to develop and rise above $0.01.
On the time of writing, HMSTR worth is round $0.00479, up over 2% within the final 24 hours. Nonetheless, buying and selling quantity is down by over 42%, with $78 million traded throughout this era.
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Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto information author and editor who has coated matters that minimize throughout DeFi, NFTs, good contracts, and blockchain interoperability, amongst others. Boluwatife has a knack for simplifying probably the most technical ideas and making it straightforward for crypto newbies to grasp. Away from writing, He’s an avid basketball lover and a part-time degen.
Disclaimer: The offered content material might embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability on your private monetary loss.
