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Cryptocurrency News Articles
Hamster Kombat Price Plummets Across Exchanges Despite Binance Futures and Super Earn Promotion
Sep 27, 2024 at 05:15 pm
Hamster Kombat has emerged as a notable play-to-earn game on the Telegram mini-app platform, combining elements of gameplay and cryptocurrency.
Hamster Kombat, a play-to-earn game mini-app on Telegram, has seen its native HMSTR crypto token debut on major exchanges like Binance. The game, where players can adopt virtual hamsters and manage a fictional crypto exchange, has attracted a large player base.
Following its launch, HMSTR experienced a rapid price peak before undergoing a steep decline. On the KuCoin exchange, the HMSTR crypto token’s price initially rose to $0.015 before paring most of its gains. As of Sept. 27, the HMSTR coin price is attempting to hold near the $0.006 price mark.
According to the Hamster Kombat price prediction, if the token begins rallying, HMSTR could face resistance near $0.0077. After breaking above the immediate resistance, the HMSTR crypto coin price could encounter resistance near $0.0091 before correcting.
On the other hand, if the HMSTR crypto coin’s price starts dropping, the Hamster Kombat price could drop to support near $0.0061. Failure of the immediate support level would result in the HMSTR price testing support near $0.0053.
Hamster Kombat Price Drops on Exchanges
Despite the fanfare surrounding the HMSTR crypto listing, its price quickly dropped across multiple exchanges. The token initially surged to $0.015 ($0.0175 on Gate.io) as speculative traders rushed to capitalize on its early success.
However, the excitement was short-lived, and HMSTR faced a sharp drop, losing over 20% of its value within hours. It fell to around $0.0065 by the end of the day, reflecting the volatility often seen with meme tokens like DOGS and Catizen.
The rapid decline left many players and traders with lower expectations for the token’s post-launch performance, as its price fell sharply from its intraday highs.
The sell-off also highlights the volatility of newly listed tokens, which can experience significant sell-offs after their initial surge. As Hamster Kombat price predictions adjust to this volatility, many are keeping a close eye on the token’s movements to determine whether the HMSTR crypto will stabilize or continue fluctuating.
Binance Futures and Super Earn Promotion
Soon after the token’s listing, Hamster Kombat’s official account announced that Binance has opened futures trading for the HMSTR crypto at up to 75x leverage, inviting users to take positions in the volatile market.
The addition of futures trading further amplified the token’s price movements as traders were quick to capitalize on this feature, adding to the overall activity surrounding the token.
In addition to futures trading, Binance has also announced its Super Earn promotion, which allows users to earn up to 300% APR by locking their HMSTR crypto tokens. The promotion has a seven-day subscription period and strict limits on minimum and maximum subscription amounts.
This initiative is designed to encourage long-term holding and stabilize the token’s price amid the speculative activity following its launch. While the futures trading feature adds volatility, the Super Earn promotion aims to stabilize the token’s price by encouraging users to hold their tokens for a more extended period.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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