Hamster Kombat, once a highly anticipated airdrop, has faced a significant downturn, mirroring the trajectory of other popular Telegram tap-to-earn tokens like Notcoin, Catizen, and Pixelverse. This decline can be attributed to several factors, including the tendency of “tap to earn” tokens to experience sell-offs as holders realize profits, and the inherent challenge of maintaining momentum for even the most promising networks, as exemplified by the decline of Axie Infinity’s user base.
Data from DappRadar reveals that Hamster Kombat’s network has witnessed a substantial decrease in active users in recent weeks. This decline, coupled with a stagnant subscriber base on YouTube and a significant drop in daily trading volume, has raised concerns about the token’s future. Some analysts even speculate that the token may be delisted from exchanges if the trend persists.
However, there are signs that the downward momentum may be waning. The Relative Strength Index and the Stochastic Oscillator, technical indicators used to assess market trends, are showing upward movement.
Additionally, the formation of a falling wedge pattern, a common reversal signal, suggests that the token could potentially rebound to its October 7 high of $0.0053, representing a potential 100% increase from current levels.
While a break below the all-time low of $0.00228 would invalidate this bullish outlook and could lead to further price declines, the current market indicators and technical analysis suggest that a potential recovery may be on the horizon for Hamster Kombat.