Hamster price rose 66% on Thursday: A closer look at the HAM coin

On Wednesday, Hamster coin fell 40.31% to $ 0.000000000781 but is now experiencing a rebound. Over the past week, it has increased by a mind-boggling 724.61%.

The coin dominated the crypto headlines this week amid a brief exchange of tweets between Elon Musk and Billy Markus, a co-creator of Dogecoin (DOGE / USD).

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This article will take a closer look at what the Hamster Coin is and if there is any logic behind the concept.

Mr. Goxx’s idea

The Hamster cryptocurrency revolves around Mr. Goxx, a hamster who chooses crypto trades. The hamster chooses which asset to trade by running on a wheel divided into several options.

Then he sells or buys this currency through one of the two tunnels. It might sound silly, but the Hamster has already outperformed the S&P 500 and Dow Jones stock indexes since June 12. Faced with Warren Buffett’s Berkshire Hathaway, the hamster generates a higher yield.

Mr. Goxx even matched the performance of Bitcoin (BTC / USD) over the same period.

Presumably, the transactions are executed by the hamster’s anonymous human trading partner, who posts the buy and sell orders.

More than just “throwing darts”?

Markus (“Shibetoshi Nakamoto”) is not thrilled with the hamster’s success, which he did not anticipate. He tweeted:

Musk replied:

Even the most balanced portfolios will suffer from investment selection which is reminiscent of throwing darts at a board.

Meanwhile, the type of Hamster price volatility is not only typical of new coins, but of the crypto market in general. There is no shortage of new coins in the market and investors seem to be looking to whatever Musk mentions. Those like Hamster, which are based on a smart or eye-catching gadget, stand out.

Sometimes these unusual pieces do well; sometimes not. If you still want to buy Hamster parts, these are the best places to buy HAM right now.

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Binance

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