What is Hamster Coin and price predictions revealed

IT’S been a big week of gains for Hamster Coin – and now some are wondering if this will become the next big meme token.

In the past 24 hours, the cryptocurrency has risen 7% to $0.000000042451, according to CoinGecko.

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Furthermore, Hamster Coin has climbed 75% and 170% in the past week and month respectively.

Hamster has gained as crypto exchange P2PB2B confirmed on Thursday that the meme coin would get listed.

“Being listed on an exchange, only makes Hamster more accessible for people to buy and sell it,” Goldman Sachs expert Andrew Lokenauth told The Sun.

He added: “Being on an exchange makes it easier to trade the coin, which can be a positive driver for price.”

But before investing – make sure you understand the risks.

The biggest thing with any cryptocurrency is the extreme volatility that they are subject to – meaning you could lose a lot of money if you’re not careful.

And this is taken a step further with meme coins like Hamster. This is because meme coins don’t gain off fundamentals like major cryptocurrencies such as Bitcoin.

Instead, meme coins typically gain off an internet-based joke.

Tesla chief executive officer Elon Musk has already joined the Hamster party and sent the coin surging in September by tweeting “Hamster has mad skillz!!

That came in response to Dogecoin founder Shibetoshi Nakamoto sharing a post about a hamster becoming a crypto investor.

Also, it’s worth noting that Twitter chief executive Jack Dorsey has gotten involved too, indicating in the summer that Hamster is the biggest threat to Ethereum.

However, keep in mind that meme coins could sink at any point, should the community lose interest or find another asset.

What is Hamster coin?

As the meme coin evolution has taken off in the past year, Hamster launched its coin on several trading platforms in early June.

The biggest thing to know about Hamster is its community and its decentralized token, which allows traders to make direct transactions without relying on financial intermediaries.

“Community is everything and HAMSTER COIN strives to promote unity within the team,” its website reads.

Also, its white paper claims it is more “powerful and secure” when compared with other meme tokens.

Another thing to know is why Hamster’s coin trades with so many zeros. This is because of its massive supply of 10 quadrillion tokens.

Hamster Coin price prediction

Predicting the price for meme coins is always tricky due to the unknowns that lie ahead.

One being, it’s impossible to tell if meme crypto traders will lose interest and if or when Mr Musk feels like driving up the price.

Mr Lokenauth said where Hamster winds up will depend on the “hype” and social media influence surrounding it.

“Hype is what pushed many of these meme coins to new heights, he said.

“When Doge was one penny, 70 cents seemed impossible but it happened, due to hype.”

Price prediction websites have also listed forecasts.

In 12 months from now, Wallet Investor expects Hamster to knock off a few zeros and trade at $0.000031. In five years, it sees the price reaching $0.000153.

Meanwhile, PricePrediction is a little more conservative and only sees Hamster’s average price sitting at $0.00000007 in December 2022.

But always keep in mind that price predictions could change if more bullish or bearish trends take place.

We’ve done price predictions for Bitcoin, Ethereum, Dogecoin, Shiba Inu, dYdX, EOS, Saitama, Loopring, Decentraland, Ethereum Name Service, DogeZilla, Aave, GYEN, and Algorand.

Also, check out six things you need to know about Decentraland and four things you need to know about Dogecoin.

This post first appeared on thesun.co.uk