Why is Pokemon Go dead? Or is it dying?

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It’s not exactly dead. Or else Niantic wouldn’t be running so many events (monthly community days, nearly bi-weekly themed events, etc).

Your definition of “dying” is that less people are currently playing than the weeks following release day. But plenty of people do play, or else Niantic wouldn’t be making as much money as they do now.

However, to answer to why the game has less players than release:

Yes, it’s pretty dead.People first started playing because they were nostalgic and because of how hyped up Pokémon GO was. It started dying because the servers kept crashing, the footstep marks next to the Pokémon were out of whack, they didn’t deliver on their promises is the trailer (like trading, raids, and battling friends). Theystillhaven’t introduced trading in Pokémon GO, after 2+ years. Pokémon GO fest made even more people stop playing because the event was a total failure and more importantly, nobody got refunds. (The tickets themselves didn’t cost that much, but many people flew far from their homes just to attend this event.)