Hamster Kombat down 59% after airdrop

Hamster Kombat’s token fell sharply days after the viral Telegram mini-game airdropped millions of tokens to users.

Trading data revealed that Hamster Kombat (HMSTR) plunged nearly 60% since its token generation event and exchange listing on Sept. 26. HMSTR’s debut price was around $0.012 across platforms like Binance and decentralized trading venue Ebi.

At press time, the cryptocurrency was trading for less than $0.0058 and has steadily declined since its late September launch.

24-hour HMSTR price chart – Sept. 30 | Source: crypto.news

Hamster Kombat became a popular mini-game on The Open Network (TON) and private messenger app Telegram, promising to outshine other projects like Notcoin (NOT). Its pre-launch growth seemed undeterred by listing delays and postponements, as over 150 million users logged in to Hamster Kombat’s official game.

You might also like: Supposed Hamster Kombat co-founder launches new game

Since listing, an exodus has swept across the web3 game’s community. Users have been leaving the project’s Telegram and other social media town halls as HMSTR’s price plummeted. What several participants described as a lackluster token airdrop is likely the main reason for subdued price action and reduced community engagement.

More than 131 million accounts were eligible for the HMSTR distribution, but users expressed displeasure with individual token allocations. Public sentiment suggested boycotting the project hours before its token was listed, and post-distribution responses echoed similar opinions.

Dear CEOs,

💥 Hamster family is truly an unstoppable force!

🚀 Over two-thirds of the airdrop have already been distributed between our players.

🪙 30+ million users have already started trading $HMSTR, with more joining every second.

🚧 Due to overwhelming demand, you might…

— Hamster Kombat (@hamster_kombat) September 26, 2024

Nevertheless, the anonymous team plans to push ahead with the TON-powered blockchain game. Last week, Hamster Kombat updated its roadmap to include future non-fungible token support. HMSTR developers also disclosed a web app targeting desktops and smartphones, along with NFT integrations and another airdrop round dubbed “Season 2.”

Read more: Hamster Kombat hints at NFTs, web app after airdrop

Source