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Coinspeaker
What Is Driving Hamster Kombat (HMSTR) 17% Price Increase?
Hamster Kombat (HMSTR), a viral Telegram-based clicking crypto game, has rallied significantly, jumping 17.19% over the past week and 3.36% in the last 24 hours alone, despite the broader market crash.
The latest rally is largely attributed to the platform’s new daily Morse code challenges.
Players who successfully decode the encrypted word stand to win a massive 1 million HMSTR token reward, adding more utility to the game’s ecosystem.
Hamster Kombat Attempts to Maintain Virality
Since March 2024, Hamster Kombat has amassed over 200 million players, positioning itself as a dominant force in Web3 gaming.
Unlike traditional clicker games, Hamster Kombat uses crypto rewards and interactive puzzles to keep its audience engaged and grow its user base.
The latest March 13 cipher challenge requires players to decipher a hidden word daily, using Morse code inputs. The goal seems to be to improve engagement of the users.
The code for Thursday was “STONKS.” Users had to put in enter the correct Morse code format:
- S: ● ● ● (tap, tap, tap)
- T: ▬ (hold)
- O: ▬ ▬ ▬ (hold, hold, hold)
- N: ▬ ● (hold, tap)
- K: ▬ ● ▬ (hold, tap, hold)
- S: ● ● ● (tap, tap, tap)
The challenge allows Hamster Kombat to maintain its virality while solidifying its position in the GameFi sector.
The combos for March 14 have also been unveiled, seen in the image below.
HMSTR Token Price Analysis
At press time, HMSTR is trading at $0.002235, pushing its market cap to $143.96 million and is ranked 256th on CoinMarketCap.
Also, the daily chart below shows that the Relative Strength Index (RSI) reads a value of 62.13, indicating that HMSTR is approaching overbought territory.
Notably, traders should watch for potential corrections following the substantial price increase in the past week.
The Fibonacci extension levels on the chart above highlight key resistance and support zones.
If HMSTR breaks above the immediate resistance at $0.0025, it could see a push toward higher levels. Conversely, a failure to hold current gains might lead to a retracement toward the 0.786 Fib level around $0.0018.
The Launch of Hamster Network
In late February, Hamster Kombat debuted Hamster Network, the first-ever gaming-focused Layer-2 blockchain built on the TON blockchain.
The network aims to provide a high-speed, scalable protocol for decentralized applications and lower transaction fees.
Hamster Network leverages the TON Virtual Machine to execute smart contracts and ensure compatibility with the Telegram-backed blockchain’s existing ecosystem.
The Network introduces a wallet, a bridge, and a decentralized exchange, sending a clear message that HMSTR developers are constantly working to provide additional utility.
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What Is Driving Hamster Kombat (HMSTR) 17% Price Increase?
