In October, Hamster Kombat, the most subscribed channel on Telegram, experienced a sharp drop in its subscriber count.
In October, Hamster Kombat, the most subscribed channel on Telegram, experienced a sharp drop in its subscriber count.
According to data from TGStat, the channel's followers decreased from 60.7 million to 55 million, averaging a loss of over 200,000 subscribers daily. This decline is mirrored by a broader downturn affecting other Telegram mini-app channels, including Tapswap, DOGS, Yescoin and Catizen.
Google Trends data further illustrates diminishing interest in Hamster Kombat, with search interest for the term plummeting from a peak of 100 points in September to just three points in October.
This drop in interest coincides with community dissatisfaction stemming from a controversial airdrop campaign.
Despite the launch of a new roadmap promising enhanced gameplay and the integration of NFTs as in-game assets by year-end, player enthusiasm appears to be waning.
In addition to subscriber losses, the price of Hamster Kombat's token, HMSTR, hit a new low of $0.003 on Oct. 23, marking more than an 8% decrease. The market capitalization has fallen from over $600 million to approximately $218 million.
Trading volume also reflects this trend, with the average 24-hour trading volume dropping to around $50 million, down from over $200 million in September.
Other tap-to-earn tokens, such as Notcoin, Baby DogeCoin and Catizen, have similarly seen declines of 15% to 20% this week, contributing to a general trend of waning investor interest in the sector.
Meanwhile, alternative cryptocurrency sectors, including meme coins and AI tokens, are gaining traction among investors.
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