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After its much-anticipated launch in September, the Telegram-based game token’s, HMSTR price has been struggling significantly, with a drop of over 53% in the last two weeks. Currently trading below $0.1, HMSTR has recently staged a minor rebound, which saw the token go up by 5.5% in the last 24 hours.
This price movement comes after high volatility associated with the HMSTR airdrop that caused user outrage due to last-minute changes and bans. Also, other competitors such as X Empire who recently announced their airdrop have contributed to the creation of the unsure market.
However, the price of HMSTR increased when OKX added a new trading pair for HMSTR/USDC. This has been made possible by the recent release of Hamster Kombat Airdrop Season 2 as well as new features in the game such as the opportunity for players to keep tokens.
However, the HMSTR token has increased by 5.5% to $0.004057, but the trading volume has decreased by 30% which shows the lack of interest of traders.
According to Analyst Bit Guru, HMSTR violated a rising channel pattern to the downside, indicating bearish control. It also states the resistance level at $0.004330 and the support level at $0.003850 He points out that future market movements could define the future direction of HMSTR.
