Hamster Kombat, the highly anticipated Telegram game, has officially launched its airdrop and made its debut on major crypto exchanges. Despite facing backlash from the community over unfair token distribution, the token saw significant trading volume on its first day, signaling strong interest from market participants. The question now remains: will the enthusiasm of gamers propel the asset to new heights?
Listing Gains for Hamster Kombat
Hamster Kombat is a popular Tap-to-Earn (T2E) game built on The Open Network (TON) and accessible through Telegram. Players can earn in-game coins by completing tasks and missions, which can then be exchanged for the project’s native cryptocurrency, HMSTR.
On Thursday, HMSTR was listed on major cryptocurrency exchanges such as Binance, Bitget, KuCoin, and others. Within the first 24 hours, the token recorded over $1.2 billion in trading volume, as reported by Coingecko data.
However, the airdrop event for Hamster Kombat distributed 60 billion tokens—60% of the total supply—to its 131 million players. The distribution faced criticism for its lack of transparency and unfair allocation of tokens to influencers and YouTubers for referrals.
Crypto enthusiast Cryptowithkhan accused the project of deceiving the community by disproportionately rewarding influencers and YouTubers. The lack of disclosure regarding vesting schedules further added to the community’s dissatisfaction.
The negative sentiment surrounding the airdrop distribution could potentially impact the price of HMSTR and lead to a prolonged correction in the market.
HMSTR Poised for Major Breakout
An analysis of the hourly chart shows a consolidation trend in the price of Hamster Kombat within a triangle formation. This pattern indicates a narrowing range with dynamic resistance and support levels.
At the time of writing, HMSTR was trading at $0.0067 with a market cap of $438.2 million. If sellers manage to turn the bottom support trendline into resistance, the token could see a 10% decline to test the $0.006 support level, followed by a potential rally to $0.0053.
On the other hand, buyers could invalidate the bearish scenario by initiating a breakout from the triangle pattern, paving the way for a rally above the $0.008 barrier.
For those curious about the future price movement of HMSTR, Coinpedia offers an insightful Hamster Kombat price prediction for the years 2024 to 2030.
In conclusion, Hamster Kombat’s debut on major crypto exchanges and the enthusiasm of gamers have set the stage for potential growth. However, the controversy surrounding the airdrop distribution highlights the importance of transparency and fair practices in the crypto space. Investors and players alike will be closely monitoring the market dynamics to see how HMSTR performs in the coming days.