TON buyers are confident prices will recover, breaking above $6 in the coming sessions. However, its performance will be shaped by market sentiment and how Bitcoin reacts to local support and resistance lines.

TON Sharpe Ratio Rising

While there are external factors to consider, one analyst notes that the Toncoin Sharpe Ratio is rising and is now in the “low-risk zone.” Based on the analyst’s assessment, TON offers a favorable risk-reward balance for holders and investors.

Analysts use the Sharpe Ratio to gauge the risk-adjusted rate of return. The return is higher when it rises, even after factoring in existing risks.

How prices perform depends on, among others, prevailing sentiment and adoption. As of mid-October, 77% of all TON traders expect prices to edge higher, looking at a CoinMarketCap poll.

The analyst added that the improvement is noticeably better than last year when the Sharpe Ratio was in a “high-risk” zone. It remains to be seen whether prices will recover in the coming sessions.

Toncoin Holders Exceed 90 Million: Will A Bitcoin Rally Spark Demand?

Over the past few trading months, TON has grown in prominence, cementing its position in the top 10. The rapid valuation follows the success of some of its protocols, including the tap-to-earn game, Hamster Kombat. At the same time, meme coin interest is taking up shape in Toncoin, looking at trading volume associated with Dogs.

According to on-chain data, the growth of Toncoin has seen its user base expand. As of early October, there were nearly 90 million TON holders, a 24X rise over the past year. With Toncoin dapps finding adoption, the more users choose to engage, buying TON, pushing prices even higher.

If Bitcoin rises, breaking above $66,000 and $70,000 in the coming sessions, the probability of TON rising in tandem will be higher. As mentioned earlier, a decisive breakout above $6 could anchor the next leg up to June 2024 highs.

Hamster Kombat Develops Bullish Indicators

Given the current state of the Hamster Kombat token and the consistent decline, it seemed at first that this was a failed launch. However, crypto analyst Saeed Sheikh sees an opportunity where many sees losses. In an analysis posted on the TradingView website, Sheikh explained that the current indicators could actually be bullish for the Hamster Kombat price.

As the crypto analyst explains in the post, the decline in the Hamster Kombat price has pushed the altcoin into oversold territory. This explains the sharp decline in price over the last month. But it is also bullish for the price, especially a popular altcoin like Hamster Kombat.

When an asset is in oversold territory, it often means that it is due for a recovery. This is because the sellers will have exhausted their stash and this leaves only the holders in charge. As a result, support is often established for the price, providing a bounce point for the next recovery.

If this is the case and the Hamster Kombat sellers are nearing exhaustion as it enters oversold territory, then Hamster Kombat could be forming support somewhere around $0.005. In this case, this would be the bounce-off point for the next rally and recover its losses from September.

Where Is The Price Headed?

Going by the crypto analyst’s chart, the Hamster Kombat price could more than double from here if it plays out correctly. There are multiple major targets to hit and overcome as they carry the most resistance for the altcoin from here.

The first target to hit is $0.009116 at the 0.382 Fibonacci level. Here is the first resistance, but arguably the most easiest to conquer from here. Next is the $0.011 target at the 0.236 Fibonacci level. Last but not least is the $0.014149 target, which is the strongest resistance. Naturally, as the price increases, so does the resistance from bears.

Given the current position of the Hamster Kombat price at the time of this writing, hitting the very last target at $0.014149 would mean a more than 100% increase. However, this move is also largely dependent on how the Bitcoin price sways the crypto market, according to the crypto analyst.

Hamster Kombat: ‘Unfair’ Token Distribution

The Hamster Kombat crew has been alleged of unfair airdrop distribution of the HMSTR tokens. Many players who invested a lot of time and money in the game got only a meager fraction of the projected tokens; some barely had $50 worth.

The community is particularly upset about the role of referrals in determining token allocations. The amount of tokens received by the player was comparatively higher in proportion to the number of referrals they have compared to the other regular players. Additionally, the team did not host over 2 million people in an airdrop after terming the users as “cheaters.”

HAMSTER MATH

The results of Season 1 have been finalized:

Over 300 million people have joined Hamster Kombat since March 26, 2024, 131 million qualified for the airdrop on September 26th and around 2.3 million were banned as cheaters.

30.6 million of qualified�pic.twitter.com/LH5eD3i8al

�Hamster Kombat (@hamster_kombat) September 22, 2024

Lack Of Transparency And Broken Promises

Other criticism of Hamster Kombat is a perceived failure to be more open and lack fulfillment of some promises to the community. The team promised several large incentives to players, such as an “equally important” reward system which was never met.

The use of “keys” during the final weeks of Season 1 also caused confusion since no clear information was issued regarding importance, with some players focusing just on collecting keys to later find out they are banned for shortchanging.

The community’s dismay of the token distribution has resulted in a notable pushback. Many of the players labeling the airdrop a “scam” have expressed their wrath on social networking sites. Some have even promised to sell their tokens right away after listing and abstain from the game.

The Hamster Kombat team has not yet provided a clear explanation or resolution for the community’s concerns. With millions of players potentially selling their tokens, the listing could face significant volatility and downward pressure on the HMSTR price.

Those who follow the project actively and invest in the premarket should know that the price of the token may skyrocket to its correct value and drop to low levels. Most of the players and investors are seeing great hope in the listing, but this issue that came recently should make them take cautious steps.

Meanwhile, Hamster Kombat will have to answer the complaints of the community and rebuild confidence when the dust settles if it is to keep its success and appeal over the long haul.

Featured image from Protos, chart from TradingView