Despite hitting 300M active users at peak, the Hamster Kombat price is failing on users’ expectations. The token is still bearing losses in the ongoing bullish market, where it is currently trading at $0.003897, maintaining a drop of 61% from its ATH of $0.01004, set two months ago. However, this is not a constant drop, as following the Bitcoin price rally, HMSTR price also attempted a recovery earlier, but that did not last long. Interestingly, there is hope as the trading volume is peaking.
Analyzing The Trends In Hamster Kombat Price
The developers launched the tap-to-earn game at the beginning of the year, which became super popular among players. Within a few months, the game gained 300 million users and finally launched the crypto token HMSTR at the September end. However, due to issues with the airdrop distribution and last-minute implementation of the controversial anti-cheat system, the Hamster Kombat price took a hit, crashing almost immediately after the listing.
The dip was also in the players’ sentiments, as the Hamster Kombat active addresses dropped from 300 Million in August to 41 Million in November, bearing an 86% drop. This has eventually influenced the HMSTR token price performance. Even today, the token is trading at $0.003897 after facing a 3% drop over the last 24 hours and a 15% drop over the week. However, in contrast, there is a steep rise in the trading volume, currently at $118.50M after a 3% surge. The number is much bigger in the week’s time frame, indicating users’ interest is returning to the token.
Even at present, the spot trading volume of this token is quite high, but the prime was also a week ago when it reached $1.3B and $4B in perpetual in November. At the same time, the HMSTR price surged to $0.005938 before declining again.
Season 2 Launch & Sentiments Driving The Trading Volume
The Hamster Kombat team has recently announced some key updates around Season 2 on November 9. As per that, the next season is right around the corner, with many interesting features. As a result, the players are excited as the season is likely to bring virtual gaming studio management, better token economics, custom gaming space creation, community-drive game challenges, and custom gaming space.
Interestingly, after November 9, the trading volume attained new highs, per the Hamster Kombat telegram post. Ever since then, the TV has been quite high, indicating users’ interest in the new season and its possible impact on the Hamster Kombat price.
It is also visible in the Coinmarket sentiments data, revealing that 73% of 89476 voters have bullish sentiments for the token, whereas only 23% hold bearish sentiments. Additionally, it has achieved the second highest on-chain holders, at 11 billion after Aptos, which is impressive.
Meanwhile, the Bitcoin rally is driving the entire market towards the bullish market, where the user’s sentiments have turned greedy, assisting in increasing the HMSTR’s TV.
Bottom Line
With Season 2 on the line, the holders are anticipating the Hamster Kombat price to rally. More importantly, around 73% of the CoinmarketCap voters believe in the bullishness of this token despite its poor performance. This bullish sentiment of the users is eventually boosting the token’s trading volume and considerable recovery in the price. Now, it has to see how these sentiments will impact its price in the long term, especially amid the Bitcoin price rally.
The post What’s Happening to Hamster Kombat Price After Record Trading Volume? appeared first on CoinGape.
