Hamster Kombat Launches The DAO for Community Governance and Utility
Hamster Kombat (HMSTR) is a Telegram-based crypto game that gained popularity earlier this year amid the rise of meme crypto projects. The game has announced the introduction of a decentralized autonomous organization (DAO), which will provide additional utility to the project.
In a post on social media platform X (formerly Twitter), Hamster Kombat confirmed that the DAO will enable HMSTR token holders to participate in governance decisions, allowing the community to influence the project's future. More details about the DAO are pending public release.
Hamster Kombat operates as a tap-to-earn game and recently launched its token after delays prompted community backlash. Following its launch, the cryptocurrency reached an all-time high of $0.01004 in September but has since fallen 66.57%, currently trading at $0.003362.
The token hit its all-time low in November, but it is up 48.73% from that point. In the past week, it has decreased by 15.60% and dropped 33.82% over the last 30 days. Data from Google Trends indicates declining interest in the game, suggesting a reduction in project hype.
The DAO could potentially revive investor interest in Hamster Kombat. Players were initially promised significant returns, which have not materialized. A report from Vanguard notes dissatisfaction among users, with claims of inadequate payouts ranging from $1-$4, contributing to the recent price decline despite broader market gains.
HMSTR Price Analysis
The daily chart from TradingView shows a significant decline in HMSTR's price over recent weeks. The Relative Strength Index (RSI) sits below 40, indicating bearish control over price action.
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Source: TradingView
The Moving Average Convergence Divergence (MACD) has also shown a bearish divergence, with the signal line crossing above the MACD line. Overall, the technical outlook for the HMSTR token appears unfavorable based on current price trends.