As a seasoned crypto investor with a knack for spotting trends and a penchant for navigating market volatility, I’ve seen my fair share of rising stars and fallen titans in this dynamic space. Hamster Kombat was a game that initially caught my attention due to its meteoric rise and the potential it held. However, watching its rapid decline has been a sobering reminder of the risks inherent in this industry.
Originally popular as a tapping-to-earn game on Telegram, Hamster Kombat has experienced a significant drop in both user numbers and interaction levels. This decline is attributed to political controversies, bans, and the emergence of tough competitors.
Initially, Hamster Kombat counted a massive 300 million users back in August. However, by November 5th, the game had shrunk down to just 41 million active monthly users, marking an alarming drop of approximately 86%.
In just eight days since its launch, the new mini app on Telegram called Paws has rapidly gained traction and amassed an impressive user base of 20.5 million people, outpacing the growth rate of Hamster Kombat.
Based on data from IntoTheBlock (ITB), on September 27th, the number of active Hamster Kombat addresses reached approximately 772,330. Since then, user engagement and token interest have noticeably decreased, dropping over 36% in the last week.
Token price and activity plummet
The struggles faced by Hamster Kombat are evident in the drop of its HMSTR token value. From a peak of $0.01 on September 26, it has plummeted almost 70%, reaching around $0.0022 as of November 4, based on data from CoinGecko. This decrease aligns with reduced user interaction within the network and fewer daily active users.
The decrease in the number is being supported by ITB’s Active Addresses Ratio (AAR), a measure that compares the number of active addresses to those holding HMSTR. This ratio recently reached its lowest point in 30 days, with only 0.34% of users actively using the platform.
On the other hand, as per ITB’s data, the number of addresses that own HMSTR has persistently grown, reaching a 30-day peak of 3.5 million holders on November 4.
As observed across various well-liked Telegram games, an interesting trend has been noticed, particularly in the case of the DOGS token airdrop. This airdrop value decreased significantly from $0.0014 to $0.0004 within the timeframe spanning August and Nov 4.
As an analyst, I’ve observed a consistent decrease in activity levels mirrored by the declining value of the token, reaching a 30-day low of only 0.27% active users on November 3rd.
Scrutiny and volatility response
1) The game Hamster Kombat has received negative feedback from Iranian authorities and allegations of potential bans in Uzbekistan that later turned out to be false.
Previously, the Hamster Kombat team communicated to CryptoMoon that they are planning to integrate a payment system, release new games, and introduce Non-Fungible Tokens (NFTs) as playable items within their existing games.
One falls, one rises
Contrary to the decline in both network usage and token value for Hamster Kombat, the Paws Mini App witnessed an impressive influx of over 11 million new users within just two days.
On November 4th, an announcement made through the Paws Telegram channel revealed that a total of 10 million wallets have been linked to the application, along with boasting a milestone of one million followers on their associated X project account.
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2024-11-05 14:17