The Graph (grt) 
Hamster Kombat Price Takes a Hit: Can the Token Recover?
Hamster Kombat, a popular tap-to-earn network, has seen its price decline by double digits, losing momentum in the market. As of February 26, the token traded at $0.001790, marking a significant drop of over 87% from its all-time high. The market capitalization has also fallen to $116 million.
A Decline Mirroring Other Tap-to-Earn Assets
The decline of Hamster Kombat mirrors that of other tap-to-earn assets, such as Notcoin, Catizen, and DOGS, which have all seen significant price drops. Even the recently airdropped Tapswap token has plunged by nearly 100%.
The price drop follows widespread selling from holders who received HMSTR tokens through the airdrop. The number of Hamster Kombat users has also dropped from over 300 million at its peak to fewer than 12 million today.
Developers Counter the Decline with New Utility
To counter this decline, the developers are working to create utility for the token. They recently launched a layer-2 network on the TON blockchain, aimed at improving transaction speeds and lowering costs.
Hamster Kombat hopes that the new layer-2 network will attract game developers and expand the ecosystem. The network is powered by the Ton Virtual Machine, with all proof-of-record transactions posted on TON.
Challenges Ahead for Hamster Kombat
Hamster’s challenge is how to attract more developers to the ecosystem, given the limited DEX ecosystem and falling user numbers on the TON blockchain.
Additionally, Hamster Kombat is banking on Season 2, which will introduce HamsterVerse, a new gaming experience designed to revitalize user engagement.
Potential for a Price Surge
Despite the current decline, HMSTR price may surge by 260% if it breaks out of its current falling wedge pattern. The token has recently formed a series of lower lows and lower highs, characterized by two converging downward trendlines.
A breakout is expected as the trendlines near convergence. The Percentage Price Oscillator and Relative Strength Index have also formed a bullish divergence pattern, signaling potential upward momentum.
If Hamster Kombat breaks out, the price could rally to $0.0064, the highest swing level from November 10, representing a potential 265% increase from its current price.
Key Takeaways:
• Hamster Kombat’s price has declined by over 87% from its all-time high.
• The decline mirrors that of other tap-to-earn assets.
• Developers are working to create utility for the token with a new layer-2 network.
• The token has formed a falling wedge pattern, signaling potential upward momentum.
• A breakout could result in a potential 265% increase in price.
Stay up-to-date with the latest news on Global Crypto News for more insights into the world of cryptocurrencies and blockchain technology.
