Hamster Kombat Token HMSTR Drops 27% Amid Market Correction
Hamster Kombat (#HMSTR) Market Update
- HMSTR is currently trading at approximately $0.00107, down 27% in the past 24 hours.
- The token's market capitalization has decreased by $25 million, now near $69 million.
- 24-hour trading volume increased over 266%, indicating panic-selling among investors.
Factors Contributing to Price Drop
- Post-airdrop sell pressure from over 131 million users dumping tokens.
- Whale wallets offloading significant amounts of HMSTR, leading to liquidations among smaller holders.
- Lack of clear roadmap and ecosystem development after initial hype.
- Community disappointment over unconfirmed rumors of a Binance listing.
- Weak tokenomics with a circulating supply of 64 billion out of a total 100 billion.
Price Outlook
- Current RSI is at 13.95, indicating oversold conditions with potential for short-term rebound.
- Immediate resistance level at $0.00125.
- Price below the 20-day moving average (~$0.0019), suggesting ongoing bearish sentiment.
- A further decline below $0.001 could push prices towards $0.0005.
HMSTR price chart with RSI and Bollinger Bands | Source: TradingView
Solaxy ($SOLX) Presale Update
- Solaxy aims to enhance Solana's performance by addressing network congestion and scalability issues.
- Current SOLX presale price is $0.001754, with $47.8 million secured in funds.
- Offers a 103% Annual Percentage Yield (APY) for staking.
- SOLX will be deployed across multiple chains post-presale for trading on various exchanges.