Memecoins Hit 2025 Low as $5 Billion Vanishes in a Single Day
Memecoins and NFTs have reached their lowest values since early 2025, as traders withdraw from speculative markets.
Memecoins faced significant declines in value on Friday, reaching a market capitalization of $39.4 billion, as reported by data aggregator CoinMarketCap. The sector saw a loss of over $5 billion within just 24 hours, dropping from $44 billion, despite a 40% increase in trading volume. This downturn is stark compared to the peak on January 5, 2025, when the memecoin market reached a high of $116.7 billion, now reflecting a 66.2% reduction from that peak.
This sharp decline in memecoins is reflective of a larger drop in the digital asset market. According to CoinGecko, the total cryptocurrency market cap plummeted from $3.77 trillion on November 1 to $2.96 trillion, losing $800 billion over three weeks.
As of this report, Bitcoin (BTC) trades at $82,778, down 14.7% over the last week. Ether (ETH) has similarly decreased, falling by 16% to $2,688 in the same timeframe.
Top memecoins suffer across all time frames
Currently, the leading memecoins are experiencing substantial losses across all time frames, including 1-hour, 24-hour, and seven-day performance metrics, suggesting a decrease in risk appetite among traders. The major players, Dogecoin (DOGE) and Shiba Inu (SHIB), each recorded double-digit percentage declines, while others like Pepe (PEPE), Bonk (BONK), and Floki (FLOKI) faced even steeper losses.
Across the memecoin spectrum, weekly declines varied from 11% at the least to over 20% among the most impacted tokens. The Official Trump memecoin saw smaller declines, just 11.65%, while Dogecoin and SPX6900 experienced losses of 14.10% and 14.26%, respectively. Memecoins like Bonk, Pudgy Penguins (PENGU), Pepe, and Dogwifhat (WIF) witnessed approximately 20% losses each.
NFTs decline to their lowest valuations since April
The NFT market, another speculative category, also suffered along with memecoins and the broader cryptocurrency market. CoinGecko indicates that the NFT market cap dropped to $2.78 billion on Friday, a 43% decrease from its previous valuation of $4.9 billion just a month ago. This figure marks the lowest stage for digital collectibles since April, showing diminished demand for NFTs.
Most major NFT collections recorded declines, with Hyperliquid’s Hypurr NFTs plummeting 41.1% over the past 30 days, followed by Moonbirds and CryptoPunks, which lost 32.7% and 27.1%, respectively. Only two collections showed growth, with Infinex Patrons increasing by 11.3%, marking it as the best performer, while Autoglyphs experienced a minimal loss of 1.9%, the least among the top collections.
