The memecoin market has seen a drastic decrease in its market capitalization, falling to $44 billion, a nearly 40% reduction from the previous value of $72 billion. This decline marks a return to levels not seen since July. As of Sunday, the market has made a slight recovery to $53 billion, a number reminiscent of the surge that occurred during a Solana-based memecoin boom.

For four months prior, the memecoin sector had been stable, maintaining a market cap above $60 billion due to strong interest from retail investors, particularly in tokens linked to Solana and BNB Chain. However, the recent downturn indicates a shift in market dynamics.

Currently, the market cap stands at $57 billion, still significantly lower than previous highs.

Top Memecoins Experience Major Declines

The leading memecoins control around $47 billion of the total memecoin market cap, representing over 82% of the sector. At the moment, all major tokens are in the red, showing losses on both the daily and weekly charts. Notable coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) reported weekly declines ranging from 13% to 22%. Other leading tokens like Bonk (BONK) and Floki (FLOKI) have also experienced declines over 20% in the past week.

Moreover, the official memecoin associated with US President Donald Trump has faced similar losses, seeing a 20% decrease in its weekly metrics.

Other Sectors Stabilize Post-Crash

While the memecoin sector grapples with its losses, other crypto categories have begun to stabilize more swiftly post-crash. Non-fungible tokens (NFTs) have shown resilience, rebounding slightly after losing about 20% of their overall market value.

Exchange-traded funds (ETFs) are witnessing renewed investor interest with Bitcoin ETFs observing a net inflow of $102 million and Ether ETFs drawing $236 million in fresh capital after previous outflows. Other cryptocurrencies like Bitcoin, which had fallen to $102,000, have climbed back over $111,000, while Ether has similarly recovered past the $4,000 mark.