The HMSTR value seems 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 stress, which has led to a value drop of over 50% from its present all-time excessive (ATH).
What Is Conserving Hamster Kombat Under $0.1
The token’s circulating provide of 64.37 billion HMSTR is principally what’s preserving its value beneath $0.1. An increase to $0.1 implies 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 whole market cap.
For the HMSTR value to realize 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 present 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.
Furthermore, Hamster doesn’t have any predefined burn mechanism in place. As such, the token stays inflationary and would solely develop into much less helpful as they launch extra tokens into circulation. Hamster launched a whopping 64% of its whole provide of 100 billion HSMTR upon launch. 60% of the provision went to the group.
This was a daring transfer, contemplating {that a} vital variety of these group members had been already prone to dump their tokens upon receipt of their airdrop. This in the end created a state of affairs whereby the token’s provide exceeded its demand, which contributed to the downward stress it confronted upon launch. Regardless of its heavy recognition, the Hamster Kombat downtrend has continued.
The HMSTR value is at present 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 received’t finish till Q1 of subsequent yr, which means that the token’s value might obtain some stability earlier than then.
HMSTR Value To Recuperate Like NOT Did?
Crypto analyst Crypto Hunter has raised the potential for Hamster Kombat having fun with an analogous value restoration as Notcoin. The NOT token fell by 80% following the Notcoin airdrop earlier this yr. Nonetheless, the token went on to report a 5x improve 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.
On the time of writing, HMSTR value 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.
Disclaimer: The introduced content material could embrace the non-public 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 to your private monetary loss.
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