Hamster Kombat (HMSTR), once hailed as a viral GameFi phenomenon, is now grappling with a sharp market correction. As of Friday, HMSTR is trading at $0.00107, marking a steep 27% drop in the past 24 hours. The token has shed approximately $25 million in market capitalization, now standing at around $69 million, according to CoinMarketCap. Notably, the 24-hour trading volume skyrocketed by 266%, suggesting a wave of panic selling among investors.
Downward Spiral Triggered by Whale Activity and Market Disillusionment
HMSTR has plunged nearly 60% from its May 11 peak of $0.0028, with analysts pointing to a combination of whale sell-offs and unmet expectations. Several large wallets reportedly dumped significant HMSTR holdings, triggering a cascade of liquidations from smaller retail investors and compounding the bearish momentum.
Why Is Hamster Kombat ($HMSTR) Crashing? 🤯
— cryptophilip 🚀💯 (@FaschingPhilip) June 9, 2025
After one of the year’s most hyped airdrops, $HMSTR is now tanking hard.
📉 Here’s why:
• Airdrop Sell Pressure: 131M+ users got free tokens – many are dumping fast.
• Whale Activity: Top wallets (likely insiders) are offloading… pic.twitter.com/1CHnBIWlpI
The token’s downfall is further fueled by the lack of a concrete development roadmap. Despite early enthusiasm driven by its tap-to-earn gameplay, Hamster Kombat failed to deliver on the ecosystem growth many had anticipated. Disappointment around unfulfilled rumors of a Binance listing has also soured investor sentiment.
Adding to the pressure, a flood of in-game mined tokens recently became claimable, increasing the circulating supply. With 64 billion tokens already in circulation out of a 100 billion maximum, HMSTR’s weak tokenomics have accelerated the sell-off.
Technical Outlook: Danger Zone Below $0.001
Technically, HMSTR remains deep in bearish territory. The Relative Strength Index (RSI) has plunged to 13.95—an extremely oversold level—while the price continues to break below the lower Bollinger Band. At $0.001065, HMSTR trades far beneath its 20-day simple moving average of approximately $0.0019. A sustained drop below the $0.001 mark could send the token tumbling toward the $0.0005 support level.
Solaxy (SOLX) Emerges as a Bright Spot
Amid HMSTR’s volatility, Solaxy (SOLX) is gaining investor attention with its innovative approach to improving the Solana network’s performance. Currently in presale, SOLX aims to ease congestion and reduce transaction failures by batching and processing transactions off-chain before settling on Solana’s mainnet.
Also Read: Hamster Token (HMSTR) Breakout Signals Bullish Surge – Key Levels to Watch
Offering a 103% APY for staking, SOLX is priced at $0.001754 and has already secured $47.8 million in funding. Post-presale, SOLX will launch across multiple chains, with availability on both centralized and decentralized exchanges. For long-term Solana-focused investors, Solaxy presents a promising alternative amid GameFi market turbulence.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
