Hamster Kombat (HMSTR) announced a new beginning of the Telegram game with the debut of The DAO, giving new utility to the HMSTR token.
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
Hamster Kombat (HMSTR), a viral Telegram-based crypto game that rose to prominence earlier this year following the surge in the popularity of meme crypto projects, has entered a new era, announcing The DAO. It is clear that the new phase of the viral game will include a decentralized autonomous organization (DAO), bringing additional utility to the project.
In a post on social media platform X (formerly Twitter), Hamster Kombat confirmed that The DAO will allow HMSTR token HMSTR $0.00304 24h volatility: 10.8% Market cap: $195.33 M Vol. 24h: $40.53 M holders to make decisions and participate in the day-to-day governance of the blockchain project, allowing the community to have a say in the project’s future. However, additional details regarding The DAO have yet to be made publicly available.
Hamster Kombat is a tap-to-earn game that recently debuted its token after a lot of community backlash over the delay in the launch. Following the launch, the cryptocurrency skyrocketed to an all-time high of $0.01004 in September and has since then crashed a whopping 66.57% from the ATH, trading at $0.003362 at the time of writing.
It is important to note that the Hamster Kombat token reached its all-time low in November. The coin is currently up 48.73% from the all-time low and has crashed 15.60% in the past week while dropping 33.82% in the last 30 days. Additionally, according to the data from Google Trends, interest in the Telegram game has nosedived, indicating that the hype of the project is dying.
Notably, The DAO has the capacity to save Hamster Kombat and reinstate investors’ interest in the Telegram game. The players of the game were promised life-changing returns earlier this year, but so far, that promise hasn’t been fulfilled. According to a report from asset management firm Vanguard, the digital asset community is disappointed in Hamster Kombat operators for allegedly scamming their users.
While the actual rewards were touted to be much higher, investors received only $1-$4 payouts in Nigeria while users in other parts of the world faced a similar situation. As a result, the crash in the price of HMSTR amid a broader market surge was expected.
As seen in the daily chart provided by TradingView below, it is clear that the Hamster Kombat token has crashed significantly in the past few weeks. The Relative Strength Index (RSI) for HMSTR reads a value below 40, which means that the bears are overall in charge of the digital asset’s price action.
Source: TradingView
Further, the Moving Average Convergence Divergence (MACD) just confirmed a bearish divergence with the signal line breaking above the MACD line. Overall, the technical situation does not look favorable for the HMSTR token based on the current price trajectory.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
