In October, Hamster Kombat, the most-played tap-to-earn game of 2024, appears to be waning. This month, the official Telegram channel for the game saw a sharp decline in subscribers. In addition, HMSTR’s price fell to a record low.
Telegram Channel Loses Subscribers
The number of subscribers to Hamster Kombat’s announcement Telegram channel dropped drastically from 60.7 million to 55 million in October, indicating over 5 million loss per Tgstat statistics. Even though the channel loses almost 200,000 members every day on average, the Hamster Kombat Announcement is still the most subscribed Telegram channel.
Other Telegram mini-app channels, such as Tapswap, DOGS, Yescoin, and Catizen, have also seen a significant decline in subscribers this month. Additionally, Google Trends data shows that interest in Hamster Kombat has drastically decreased overall.
From its peak of 100 points in September to just 3 points in October, search interest for the term “Hamster Kombat” fell precipitously. The community’s discontent with the airdrop program was the cause of this deterioration.
The data indicates that gamers are not enthusiastic about the plans, even though a new roadmap was just revealed that calls for the introduction of new gameplay and the incorporation of NFTs as in-game assets by the end of the year.
One prominent member of the community, Crypto with Khan, encouraged other users to unfollow the channel, saying “I am unfollowing @hamster_kombat on every single social media platform. Now it’s your turn to unfollow them and show the world that no other project should dare to treat their community this way. Unfollow and report all social media accounts of those influencers and YouTubers who have been bootlicking Hamster Kombat and selling false dreams for their benefit.”
HMSTR Token Price Drops to New Low
The price of HMSTR fell by more than 8% on October 23 and fell to a new low of $0.003. The token is currently worth about $218 million, down from a market capitalization of nearly $600 million.
Furthermore, the 24-hour trade volume has failed to hold onto the $200 million+ level it reached in September. The average 24-hour volume was under $50 million by October. This drop suggests that investors are not interested in buying the token again.
Furthermore, this week has seen 15%–20% declines in popular tap-to-earn tokens like Notcoin (NOT), Baby DogeCoin (BabyDoge), and Catizen (CATI).
These tokens went into a downward trend after being first listed, with player interest progressively waning. In the meantime, investors are still interested in other crypto categories like meme coins and AI tokens.
Conclusion
The sharp decline in interest and engagement for Hamster Kombat, once a leading tap-to-earn game, highlights the challenges facing the play-to-earn and tap-to-earn sectors. The drastic drop in Telegram subscribers and a significant price fall for the HMSTR token indicate dissatisfaction within the community, particularly around the airdrop program and the perceived unmet promises.
While a new roadmap and NFT integration were meant to revive interest, the current sentiment suggests a loss of faith, driven by prominent community members urging others to unfollow. This trend mirrors broader market declines in similar tokens, suggesting deeper systemic issues in the tap-to-earn model.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.