tl;dr
In October, the popular tap-to-earn game Hamster Kombat experienced a decline in both subscriber numbers on its official Telegram channel and the price of its token, HMSTR. The Telegram channel saw a significant drop from 60.7 million to 55 million subscribers, losing over 200,000 subscribers daily....
In October, the popular tap-to-earn game Hamster Kombat experienced a decline in both subscriber numbers on its official Telegram channel and the price of its token, HMSTR. The Telegram channel saw a significant drop from 60.7 million to 55 million subscribers, losing over 200,000 subscribers daily. Interest in Hamster Kombat, as reflected by Google Trends data, also decreased sharply. The price of HMSTR hit a new low of $0.003, with the market capitalization dropping to around $218 million. The 24-hour trading volume decreased from over $200 million to just $50 million.
Additionally, other tap-to-earn tokens like Notcoin, Baby DogeCoin, and Catizen also experienced drops, indicating a broader trend of declining interest in these types of tokens. Moreover, overall interest in Hamster Kombat has also plummeted, reflected by Google Trends data. Search interest for the keyword “Hamster Kombat” dropped sharply from a peak of 100 points in September to just 3 points in October. This decline followed community dissatisfaction with the airdrop campaign.
Despite recently revealing a new roadmap, which includes the launch of new gameplay and the integration of NFTs as in-game assets by the end of the year, the data suggests players are not excited about these plans. On October 23, the price of HMSTR dropped by over 8%, hitting a new low of $0.003. From a market capitalization of over $600 million, the token’s value now stands at around $218 million. Additionally, the 24-hour trading volume has not maintained its September level of over $200 million. By October, the average 24-hour volume had dropped to just $50 million.
Moreover, leading tap-to-earn tokens like Notcoin, Baby DogeCoin, and Catizen have all recorded drops of 15% to 20% this week. After their initial listings, these tokens entered a downward trend, with player interest gradually declining. Meanwhile, other sectors, such as meme coins and AI tokens, continue to capture the attention of investors.