Hamster Kombat chart pattern points to a major comeback

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As a seasoned crypto investor with battle-hardened nerves and a portfolio that resembles a rollercoaster map, I must admit that the Hamster Kombat (HMSTR) bear market has been a tough pill to swallow. The token, once brimming with anticipation, has plummeted over 80% from its all-time high, leaving me and many others in a state of disbelief.

The Hamster Kombat token, highly anticipated as an airdrop, has unfortunately found itself stuck in a prolonged downturn, or ‘bear market’, instead.

The stock price for Hamster Kombat (HMSTR) has plummeted more than 80% since its peak, resulting in a fully diluted market capitalization of approximately $268 million.

The crash it experienced is similar to the significant decline seen in other well-known Telegram click-to-earn tokens such as Notcoin (NOT), Catizen (CATI), and Pixelverse. These tokens have plummeted significantly from their all-time highs.

A plausible explanation for this decrease could be that numerous “earning” tokens frequently experience sell-offs when their holders decide to withdraw their investments. Furthermore, even highly anticipated networks can lose steam over the long term. For instance, Axie Infinity (AXS) experienced a significant decline in its user base following 2021, despite its early success.

According to DappRadar’s data, there were approximately 118,000 distinct wallets actively using the network during the past week. Conversely, the price of its token has fallen significantly from $172 in 2021 to just $5 today, resulting in massive financial losses for investors totaling billions of dollars.

It appears that Hamster Kombat, a platform once popular with many users, has experienced a significant decline in its user base lately. As reported by Rektology, approximately 260 million users have left the platform within the last few weeks. If this downward trend persists, there’s a possibility that the token associated with Hamster Kombat could be removed from various digital exchanges.

As a dedicated crypto investor, I’ve noticed that the growth on Hamster Kombat’s YouTube channel seems to have plateaued compared to its earlier surge this year. Despite the captivating content, it appears we’ve been stuck at approximately 36.9 million subscribers for some time now.

Today’s trade volume for HMSTR has decreased as well. According to CoinMarketCap, the 24-hour volume stands at approximately $34 million, which is significantly lower than the over $100 million it was just a few weeks ago.

Hamster Kombat price could rebound

On a hopeful side, it seems like the HMSTR token might be reaching its lowest point, implying possible profits in the upcoming period.

Since October 25th, I’ve noticed a softening of the downward trend I was observing earlier. The Relative Strength Index (RSI) and the Stochastic Oscillator, two key indicators I follow, appear to be moving in an upward direction now.

Significantly, the trading trend for Hamster Kombat appears to be shaping into a falling wedge formation, which is often a sign of an impending reversal. If this pattern holds true, it’s possible that the token could surge back up towards $0.0053 – a level last seen on October 7 – marking a potential 100% growth from its current value.

Instead, if the value dips lower than its record lowest point of $0.00228, it would contradict the optimistic forecast, potentially causing a continued decrease in price, possibly reaching as low as $0.0015.

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2024-11-07 20:26