Hamster Kombat Price Prediction As App Users Hit New Low of 48 Million

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As a seasoned researcher with a knack for deciphering market trends, I find myself looking at Hamster Kombat (HMSTR) and feeling a sense of déjà vu. The declining user base, the dwindling price, and the bearish sentiment all paint a familiar picture – one that I’ve seen many times before in my crypto journey.

The possible decrease in Hamster Kombat’s price could increase due to a decrease in mini-app users, which has recently reached a record low of 48 million. This substantial drop in user numbers fuels worries about the coin’s meme’s future price trend.

1) The cost of HMSTR has decreased by 2.1% in the last 24 hours and is now at $0.0027. Surprisingly, while Bitcoin‘s price is lifting the overall crypto market, the value of HMSTER has failed to gain traction. At present, Hamster Kombat is 62% lower than its peak price set just 34 days ago.

Impact of Dropping User Base On Hamster Kombat Price

Since the project’s airdrop, the number of users on Hamster Kombat has been steadily decreasing. The community felt disappointed with the way the airdrop was handled, leading to widespread dissatisfaction and a significant drop in sentiment. As a result, the price has plummeted by over 62% within just two months.

The decline in the number of users for the Hamster Kombat Telegram Mini App has been notable, coinciding with a decrease in its price. At this moment, the game boasts around 48 million monthly users, which is a drop from 55 million just a week ago. This translates to about a million users leaving daily. Interestingly, during this same period, the app’s price decreased by approximately 18.1%. The performance of its competitor, X Empire, in terms of pricing, has been posing a challenge to Hamster Kombat’s market demand.

At the moment, Hamster Kombat is on its second season of the game, yet it’s still encountering negative feedback from disgruntled players.

According to data from IntoTheBlock (ITB), there’s been a significant decrease in activity by large holders (whales) over the past week, suggesting these whales may be leaving the project.

As an analyst, I’ve observed a significant bearish sentiment among derivative traders as per the Coinglass Liquidation Map (LM). In the past 30 days, the Short positions totaled $5 million, while Long positions only amounted to $1 million. This trend is also evident in the 7-day and 1-day timeframes, indicating a predominantly bearish outlook on the asset.

The skew towards pessimism suggests that sellers have more influence over the Hamster Kombat market at present, as many traders believe the prices will decrease in the near future.

What’s Next For HMSTR Price?

As an analyst, I’m observing that the HMSTR price appears to be moving within a descending channel, which signifies a robust downward trend. The price oscillates between the channel’s support and resistance levels, hinting at a period of consolidation. Recent candles seem to indicate a pause or narrowing in the price movement.

At present, there’s a holding point near the price of $0.0027, but should the price fall beneath this level, it might trigger a potential decline of approximately 10%, taking it down to roughly $0.0023.

In simpler terms, the trading volume for Hamster Kombat’s market has decreased by 16%, suggesting that there’s not much demand either to buy or sell the asset aggressively. Interestingly, the Open Interest (OI) of HMSTR has increased by 0.8%, despite a 2.1% decrease in its price. This means more traders are entering into short positions for this asset. Historically, when traders go short, expecting the price to fall, it often results in a drop in price as they’re essentially betting on the asset’s value decreasing further.

Should bulls make an appearance, there’s a possibility that Hamster Kombat’s price could spike up to approximately $0.00305 (Level 1 of Resistance). If this resistance level gets broken, it would indicate market power and contradict the present bearish perspective. The next potential target would then be $0.004, representing a significant increase of 46% from its current value.

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2024-10-31 16:12