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Hamster Kombat soars 90% in 7 days: A short-term spike?
The post Hamster Kombat soars 90% in 7 days: A short-term spike? appeared on BitcoinEthereumNews.com. Data revealed that only 10% of HMSTR investors were in profit. Technical indicators suggested that Hamster Kombat was testing a crucial support. Hamster Kombat [HMSTR] showcased impeccable performance last week as the token’s price surged by 90%. However, the token couldn’t sustain the uptrend. HMSTR witnessed a double-digit decline in the past 24 hours. Does this mean HMSTR will lose its recently gained value? Decoding Hamster Kombat’s performance The token registered more than 90% price hike in the past seven days, which was commendable. However, the uptrend didn’t last long. In the past 24 hours alone, the token witnessed a over 20% price drop. At the time of writing, Hamster Kombat was trading at $0.004458 with a market capitalization of over $286 million. Despite the 90% price hike over the last week, only 92k HMSTR addresses were in profit, which accounted for 10% of the total number of HMSTR addresses. Source: IntoTheBlock It was interesting to note that whales had the majority of the stake in Hamster Kombat’s available supply. As per IntoTheBlock’s data, there were 10 whales that held over 84% of HMSTR supply at the time of writing. What metrics suggest Since the token witnessed massive volatility in the recent past, we checked how this affected HMSTR’s on-chain metrics. As per our analysis, Hamster Kombat’s trading volume increased while its price rose. Similarly, its volume also dropped when its value depreciated. Additionally, its open interest also followed a similar trend. Both of these metrics indicated that the recent 20% price drop might not last. Whenever trading volume and open interest drop, it indicates that the chance of the on-going precise trend changing is high. However, after a sharp increase, HMSTR’s social dominance dipped, indicating a decline in the token’s popularity in the crypto market. Source: Santiment Apart from…
The post Hamster Kombat soars 90% in 7 days: A short-term spike? appeared on BitcoinEthereumNews.com.
Data revealed that only 10% of HMSTR investors were in profit. Technical indicators suggested that Hamster Kombat was testing a crucial support. Hamster Kombat [HMSTR] showcased impeccable performance last week as the token’s price surged by 90%. However, the token couldn’t sustain the uptrend. HMSTR witnessed a double-digit decline in the past 24 hours. Does this mean HMSTR will lose its recently gained value? Decoding Hamster Kombat’s performance The token registered more than 90% price hike in the past seven days, which was commendable. However, the uptrend didn’t last long. In the past 24 hours alone, the token witnessed a over 20% price drop. At the time of writing, Hamster Kombat was trading at $0.004458 with a market capitalization of over $286 million. Despite the 90% price hike over the last week, only 92k HMSTR addresses were in profit, which accounted for 10% of the total number of HMSTR addresses. Source: IntoTheBlock It was interesting to note that whales had the majority of the stake in Hamster Kombat’s available supply. As per IntoTheBlock’s data, there were 10 whales that held over 84% of HMSTR supply at the time of writing. What metrics suggest Since the token witnessed massive volatility in the recent past, we checked how this affected HMSTR’s on-chain metrics. As per our analysis, Hamster Kombat’s trading volume increased while its price rose. Similarly, its volume also dropped when its value depreciated. Additionally, its open interest also followed a similar trend. Both of these metrics indicated that the recent 20% price drop might not last. Whenever trading volume and open interest drop, it indicates that the chance of the on-going precise trend changing is high. However, after a sharp increase, HMSTR’s social dominance dipped, indicating a decline in the token’s popularity in the crypto market. Source: Santiment Apart from…
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