Toncoin Surges into Top 10 Cryptocurrencies, Fueled by Viral Game Hamster Kombat

• Toncoin (TON) surges to $7.03, entering the top 10 cryptocurrencies.
• Hamster Kombat’s integration spikes TON’s daily trade volume by 270%.
• TON’s MACD suggests a potential rebound despite easing momentum.

The launch of Hamster Kombat, a tap-to-earn management simulation game, has sparked interest and driven up the value of Toncoin (TON), despite a bearish weekend start.

This surge propelled Toncoin past Cardano, securing its position among the top 10 cryptocurrencies by market capitalization. The game, which utilizes on-chain assets on the TON blockchain, has attracted a massive user base, contributing to TON’s robust performance.

This development led to TON’s price reaching a 7-day high of $7.03 in the last 24 hours. While it failed to break through resistance, bullish momentum remained strong at press time, with TON trading at $6.73, a 6.10% increase from the intra-day low.

Alongside this rally, TON’s market capitalization (ranking 9th) and 24-hour trading volume surged by 5.77% and 269.80% respectively, reaching $16,208,874,781 and $495,972,466.

TON/USD 24-hour price chart (source: CoinMarketCap)

Hamster Kombat Growth and User Engagement

Hamster Kombat has gained popularity on social media platforms, particularly on Telegram, by leveraging the app’s native sharing features. The game has attracted over 60 million players, with 24 million daily active users. Additionally, the Hamster Kombat YouTube channel garnered 10 million subscribers in just seven days.

Hamster Kombat recently announced a special “launch on TON” card to celebrate its integration into the TON ecosystem. This new feature aims to further enhance player rewards, improving the overall gameplay experience. With the growing number of users engaging with the game and its new features, demand for Toncoin is likely to follow suit.

TON/USD Technical Analysis

On the TONUSD 24-hour price chart, the Average Directional Index (ADX) rating of 12.19 suggests that the bull rally may be losing momentum. This trend could indicate a potential price correction or consolidation period for Toncoin before another rally. 

If the ADX continues to drop, and the RSI stays flat, Toncoin could experience a corrective phase, and a pullback might occur in the medium term. In the shorter timeframe, the bulls may still be able to make a comeback as the current RSI reading is only at 56.

TON/USD 24-hour price chart (source: TradingView)

The Moving Average Convergence Divergence (MACD) rating of 0.10 while its signal line at 0.11 suggests that the bullish momentum is losing steam, but there is still potential for a rebound. A crossover above its signal line could signal a continuation of the upward trend for Toncoin. 

Moreover, the histogram shows a slight decrease in bullish momentum, indicating a possible consolidation phase soon. This trend could present a buying opportunity for traders looking to enter at a lower price before the next leg up.