In the early days of Instagram, hashtags were a powerful tool for users to discover and engage with new content on the platform. By adding relevant hashtags to their posts, users could increase the visibility of their content and attract likes, comments, and new followers. However, over time, the use of hashtags on Instagram has changed, and many people now believe that they are no longer an effective way to grow your audience on the platform.

One of the main reasons why Instagram hashtags are dead is that they have become oversaturated. With millions of users on the platform, there are now countless hashtags being used for every topic, interest, and community imaginable. This means that it is increasingly difficult to stand out and get noticed when using hashtags, and many users have stopped using them altogether.

Another reason why Instagram hashtags are dead is that they have been abused by spam accounts and bots. Many users have started using hashtags to spam other users with irrelevant and annoying content, which has led to a decrease in the quality and relevance of the content that is associated with hashtags. This has made it more difficult for genuine users to get noticed and attract engagement when using hashtags.

Furthermore, Instagram has made changes to its algorithms that have reduced the visibility of posts with hashtags. In the past, posts with hashtags were more likely to appear in the "top posts" section of a hashtag page, which could increase their visibility and engagement. 

However, Instagram has now changed its algorithms to prioritize posts from users that the user follows or has interacted with, which means that posts with hashtags are less likely to be seen.

In conclusion, Instagram hashtags are dead, and you shouldn't use them. The oversaturation of hashtags, the abuse of hashtags by spam accounts and bots, and the changes to Instagram's algorithms have all contributed to their decline in effectiveness. Instead of relying on hashtags to grow your audience on Instagram, it is better to focus on creating high-quality, engaging content, engaging with your followers and other users, and using other growth strategies.