In October, Hamster Kombat—the once-dominant Telegram channel—saw a notable drop in its subscriber base and token value, reflecting a challenging period for the platform.
Data from TGStat shows Hamster Kombat’s followers dwindled from 60.7 million to 55 million, translating to a daily average loss of over 200,000 subscribers. This decline reflects a broader downturn impacting other Telegram mini-app channels like Tapswap, DOGS, Yescoin, and Catizen, which have all seen user interest wane.
Search insights from Google Trends echo this trend, showing a steep fall in search interest for “Hamster Kombat,” which dropped from a peak of 100 points in September to a low of three points in October. This loss of interest aligns with a community backlash following a controversial airdrop campaign, which has left some subscribers dissatisfied.
Despite introducing a new roadmap that includes enhanced gameplay and the integration of NFTs as in-game assets by the end of the year, player engagement has continued to decline. Alongside subscriber losses, Hamster Kombat’s token, HMSTR, reached a new low of $0.003 on October 23, marking an 8% decrease. The market capitalization plummeted from over $600 million to roughly $218 million.
The platform’s trading activity has similarly slowed, with average 24-hour trading volume dropping to around $50 million, down significantly from the $200 million average seen in September. This dip in trading volume suggests a shift in investor sentiment.
Other tap-to-earn tokens, such as Notcoin, Baby DogeCoin, and Catizen, have similarly seen declines between 15% and 20% this week, contributing to a broader downturn in this sector.
While interest in tap-to-earn tokens fades, investors are increasingly looking toward alternative crypto categories, such as meme coins and AI tokens, which have started to capture market attention with renewed momentum.