Hamster Kombat's (HMSTR) performance since its airdrop has been disappointing. After an exciting launch, profit-taking has led to a significant price decline. This analysis covers the current state of HMSTR and what investors should know.
On September 26, Hamster Kombat distributed 60 million HMSTR tokens to players, beginning trading at $0.014. Unfortunately, massive selloffs quickly reduced its price, leading to a staggering 50% decline over the past week. As of now, HMSTR trades at $0.0047, reflecting an 11% drop in the last 24 hours.
Since the airdrop, HMSTR has faced a bearish sentiment with a negative weighted sentiment of -0.16. This suggests that the majority of discussions are influenced by fear and uncertainty, often leading to prolonged downtrends.
Despite the loss in value, futures traders remain optimistic, with Coinglass data indicating positive funding rates for HMSTR. However, $9 million in long positions have been liquidated due to ongoing price drops.
Current readings from HMSTR’s hourly chart indicate further declines. The Directional Movement Index (DMI) suggests that sellers dominate the market, with potential for a drop to $0.0010. However, a shift to bullish sentiment could see prices rise by 59% to $0.0075.
Investors should monitor the market closely as bearish trends persist, but remain alert for any shifts in sentiment that could signal a price recovery.
