Memecoin market sinks to 2025 low as $5B wiped out in a day

Memecoins plunged to their lowest valuation in 2025 on Friday, dropping to a combined market capitalization of $39.4 billion, according to data aggregator CoinMarketCap. 

The sector shed over $5 billion in 24 hours, declining from $44 billion despite a 40% increase in trading volume. This marks a big reversal from the year’s peak on Jan. 5, when the memecoin market cap collectively hit a high of $116.7 billion. Friday’s rout marks a 66.2% drawdown from the 2025 high. 

The sharp sell-off mirrors a broader decline across the digital asset market. CoinGecko data shows that the total crypto market cap fell from $3.77 trillion on Nov. 1 to $2.96 trillion on Friday, wiping out $800 billion in just three weeks. 

At the time of writing, Bitcoin (BTC), the market’s top asset, traded at $82,778, down 14.7% over the past week. Ether (ETH) showed similar losses, falling 16% to $2,688 over the seven-day period.

Top memecoins bleed across all timeframes

At the time of writing, the top 10 memecoins by valuation are deep in the red across every major time frame, including the 1-hour, 24-hour and seven-day charts. This suggests that the risk appetite in the sector declined. 

The biggest memecoins, Dogecoin (DOGE) and Shiba Inu (SHIB), posted double-digit losses, while tokens like Pepe (PEPE), Bonk (BONK) and Floki (FLOKI) saw even steeper declines. 

Across the board, seven-day drops ranged from 11% on the low end to over 20% for the tokens hit the hardest. 

United States President Donald Trump’s Official Trump (TRUMP) memecoin was the least affected, but still slid 11.65% over the past week. The token is followed by Dogecoin, which declined 14.10% and SPX6900, which lost 14.26% in value.

Bonk, Pudgy Penguiins (PENGU), Pepe and Dogwifhat (WIF) recorded the deepest weekly losses at about 20% each. 

Related: BlackRock Bitcoin ETF sheds $2.47B in November as outflows hit record $3.79B

NFTs slide to lowest valuation since April

The non-fungible token (NFT) market, another speculative corner of the crypto ecosystem, also faced steep losses alongside memecoins and broader digital assets. 

CoinGeko data shows that the NFT market cap fell to $2.78 billion on Friday, down 43% from its $4.9 billion valuation 30 days ago. The figure represents the lowest market cap for digital collectibles since April, reflecting a fading demand for NFTs. 

A majority of the top 10 NFT collections posted double-digit declines in the last month. The biggest loser was Hyperliquid’s Hypurr NFTs, dropping 41.1% in 30 days.

It was followed by Moonbirds and CryptoPunks, which posted a 32.7% and 27.1% loss, respectively. Pudgy Penguins also lost about 26.6% in the same time frame. 

Only two collections bucked the sector-wide slump. Infinex Patrons posted an 11.3% gain in the last 30 days, making it the best performer among the top 10 NFT collections.

Meanwhile, Autoglyphs held relatively steady with only a 1.9% loss, the smallest decline among the group.