CandleFocus Hamster Kombat in a harsh reversal; market cap drops below Notcoin
2024-09-26
Author: Content Editor
Hamster Kombat's token, HMSTR, experienced a significant plunge of over 30% following its highly-anticipated airdrop and token listing. The token's value dropped to $0.0088, resulting in a total valuation of over $574 million, making it the 110th largest cryptocurrency. Despite being listed on major centralized exchanges such as Binance, OKX, and KuCoin, the token's opening price was considerably lower than its pre-market futures high. The decline in value is likely due to airdrop recipients selling their tokens. Despite the drop, Hamster Kombat has a larger ecosystem than Notcoin, with over 300 million players and a substantial following on YouTube. However, the token faces the risk of increased selling by those who accumulated tokens, which is a common occurrence for newly listed Telegram tokens. Despite the price drop, the airdrop took place during a time when most cryptocurrencies, including Bitcoin, were rising in value.
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