Hamsters (ETH: $HAMS) token continues to trend on DexTools, which has added to its rise of over 35,000% at its peak.
$HAMS is designed as a utility token aiding the Hamsters gaming platform. The platform is built for live-streamed, pre-recorded hamster races that incorporate PvP betting. It is a relatively new Ethereum token launched on July 10, pumping from under $0.01 to over $3 in just a few days. Those who got in early raked in big wins in just a few days.
It is important to mention that there is a 5% buy & sell tax on all $HAMS transactions, in which 30% is used for marketing and the other 70% for the development of the platform.
A Platform for Hamster Gambling
Hamsters betting platform is currently open 24/7/365 to players worldwide. $HAMS token holders will receive 80% of the revenue generated from the gambler’s bets, while the remaining 20% goes to a revenue pool for the Hamsters’ team.
The $HAMS project officially went live on Twitch on July 13. In addition, the live streams for the hamster races can also be found on the project’s website, Hamsters.gg.
$HAMS has grown a following of over 6,400 on Twitter in just 2-weeks time. The Hamsters platform has embraced a community-centric approach that rewards the community and encourages its growth. All users are empowered to promote it, which will help grow the value of the $HAMS tokens.
$HAMS Token Performance
As a meme coin, $HAMS is one of the few tokens implementing a working product. Its social media pages remain active and garnered an active community online. As of July 24, 2023, the token has pulled back roughly 87% from the all-time high price of $3.45, however it retains an impressive market cap of $5.2 million, with total liquidity of over $579K. Additionally, trading activity remains high, with 24-hour trading volumes of over $14.9 million. There are a total of 10 million $HAMS tokens.
[Click The $HAMS Chart Above To Trade On DexTools]
Final Thoughts
Hamsters transforms the traditional gaming and gambling industries by including blockchain technology and DeFi solutions into a real-time, visually stimulating user experience. The project has implemented anti-whale mechanisms that limits the number of transactions and the deal size for each wallet.
While Hamsters is making a move toward the downside, it is important to remember that the project is here for the long haul. We are taking an opportunistic look at $HAMS. It’s recent 87% pullback could lead to significant gains in the short-term – as $HAMS could rally hard off previous levels of support.
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