Hamster Kombat price faces a potential further drop as mini-app users hit a new low of 48 million. This significant decline raises concerns about the future of the meme coin’s price trajectory.
HMSTR price is down 2.1% in the last 24 hours and is trading at $0.0027. Despite Bitcoin price pulling up the entire crypto market, the price of HMSTR has struggled to rise. Hamster Kombat is currently down 62% from its all-time high established 34 days ago.
Impact of Dropping User Base On Hamster Kombat Price
The Hamster Kombat user base has been dwindling since the project conducted its airdrop. The community was largely unsatisfied with how the airdrop was conducted, resulting in negative sentiment that has seen the price crash over 62% in less than two months.
With the price, the Hamster Kombat Telegram Mini App usage has also tanked. At press time, the game has only 48,545,992 monthly users, down from 55 million a week ago. This is an average of 1 million users lost per day. The drop was accompanies with an 18.1% decrease in price in the same period. Even its competitor X Empire price performance is challenging its demand in the market.
Hamster Kombat is currently in Season 2 of its game, but continues to receive negative sentiment from disappointed users.
Data from IntoTheBlock (ITB) shows large holder NetFlow has been dropping over the last 1 week, which shows whales are departing from the project.
Additionally, Coinglass Liquidation Map (LM) shows derivative traders are bearish on the asset. In the 30–day LM data, there were $5 million worth of Shorts compared to just $1 million Longs. The data is bearish also on the 7-day and 1-day timeframes.
This imbalance indicates that the bearish sentiment is dominating the Hamster Kombat market as traders anticipate price to drop in thr future.
What’s Next For HMSTR Price?
HMSTR price is in a falling channel, indicating a strong downtrend. Price is bouncing between channel support and resistance, with recent candles suggesting consolidation.
There is a temporary support around the current price of $0.0027, but if price breaks below, it could lead to a 10% drop to $0.0023.
Hamster Kombat’s 24-trading volume is down 16%, indicating a lack of strong buying or selling pressure. However, HMSTR’s Open Interest (OI) is up 0.8% while price has dropped 2.1%, which indicates that futures traders are entering Shorts on the asset. This is usually followed by a price drop as traders are betting on the price moving lower.
If bulls decide to enter the scene, Hamster Kombat price may surge to $0.00305 (Resistance 1) which has eld the price down for the last week. If price breaks above this resistance, it will signal market strength and will invalidate the current bearish thesis. Next target would be $0.004, a 46% increase from the current price.
Frequently Asked Questions (FAQs)
Hamster Kombat’s price decline is attributed to a shrinking user base and community dissatisfaction after the recent airdrop. The game app’s monthly users dropped to 48 million, driving down demand and increasing negative sentiment.
The app lost about 7 million users in a week, causing the price to drop by 18.1% in the same period. This loss in users has pressured the price downward as fewer players engage with the game.
No, sentiment among traders is bearish. Data shows a significant increase in short positions on Hamster Kombat, indicating that traders expect the price to continue declining.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/hamster-kombat-price-prediction-as-app-users-hit-new-low-of-48-million/
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