The post Will Hamster Kombat Price Lose $0.6 Line Amid Community Backlash? appeared first on Coinpedia Fintech News
Telegram game Hamster Kombat has finally launched its long-awaited airdrop and started its debut on major crypto exchanges on Thursday. While HMSTR faced the community backlash for unfair airdrop distribution, the token witnessed a substantial trading volume on its first day, indicating the market participants’ interest. Will the gamer’s enthusiasm push 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. The game allows users to earn in-game coins by completing tasks and missions and exchanging them with the project’s native cryptocurrency, HMSTR.
On Thursday, the HMSTR was listed on major cryptocurrency exchanges, including Binance, Bitget, KuCoin, Gate.io, MEXC, OKX, Bybit, and Bitfinex. In the first 24 hours, the token logged over $1.2 billion in trading volume, according to Coingecko data.
Simultaneously, the Hamster Kombat airdrop event distributed 60 billion tokens— 60% of the total supply— to their 131 million players. However, due to unfair token distribution and lack of transparency, the airdrop witnessed a quick backlash from community members.
Rising Community Disappointment
Crypto enthusiast Cryptowithkhan accused the project of cheating the community by disproportionately allocating substantial tokens to YouTubers and influencers for referrals.
“Influencers and YouTubers are the main culprits behind this disappointment. They sell the dream of iPhones and Lambos to new users to gain millions of views and subscribers and earn huge money through this.”
The X post highlighted that the vesting schedules implemented were not disclosed to the community, indicating a lack of transparency.
The growing user dissatisfaction could negatively impact the Hamster Kombat (HMSTR) price and drive a prolonged correction.
HMSTR Poised for Major Breakout
An hour chart analysis shows a consolidation trend from Hamster Kombat price within a triangle formation. This chart pattern shows two converging trendlines driving a narrowing range with dynamic resistance and support.
By press time, the HMSTR price traded at $0.0067 while maintaining a market cap of $438.2 million. If sellers flip the bottom support trendline into potential resistance, the asset could plunge 10% to challenge $0.006 support, followed by an extended rally to $0.0053.
However, the buyers could invalidate with a bullish breakout from the triangle pattern to bolster a rally past the $0.008 barrier.
Curious if the $HMSTR price will reach $0.0010? Find out now in Coinpedia’s insightful Hamster Kombat price prediction for 2024 to 2030.