Speculative Tokens and NFTs Sink to Multi-Month Lows Amid Sharp Crypto Market Retreat
The memecoin sector suffered one of its steepest single-day declines of the year on Friday, with over $5 billion in value erased within 24 hours. The combined market capitalization of leading memecoins fell to $39.4 billion, its lowest level of 2025, according to new data. The drop reflects a broader collapse in speculative appetite across digital assets as market volatility accelerates.
Memecoins Tumble as Traders Flee Risk
The sector’s market cap slid from $44 billion to $39.4 billion, even as trading volume surged by 40% — a classic sign of panic-driven unwinding. The drawdown represents a 66.2% decline from this year’s peak of $116.7 billion on Jan. 5.
This collapse mirrors the broader market’s retreat. CoinGecko data shows total crypto capitalization fell from $3.77 trillion on Nov. 1 to $2.96 trillion, wiping out $800 billion in three weeks.
At the same time, Bitcoin traded around $82,778, down nearly 15% on the week, while Ether slid 16%, settling near $2,688.
All top 10 memecoins are currently negative across every timeframe, including 1-hour, 24-hour and weekly charts, confirming a widespread withdrawal from high-beta tokens.
Top Tokens Post Double-Digit Losses
Dogecoin and Shiba Inu led the downturn with double-digit weekly losses, while smaller tokens such as Pepe, Bonk and Floki posted even steeper declines.
Seven-day losses ranged from 11% at the low end to more than 20% among the worst-hit assets. Even the comparatively resilient Trump memecoin fell 11.65%, followed by Dogecoin’s 14.10% slide.
The most severe weekly losses came from Bonk, Pudgy Penguins (PENGU), Pepe and Dogwifhat, each dropping around 20%.
NFT Market Hits Lowest Level Since April
The downturn extended into NFTs. CoinGecko data shows the NFT market cap fell to $2.78 billion, down 43% from $4.9 billion just one month earlier. This marks the lowest valuation for digital collectibles since April and underscores the fading demand for non-fungible assets.
Most top NFT collections posted double-digit monthly losses. Hypurr NFTs plunged 41.1%, followed by Moonbirds at 32.7% and CryptoPunks at 27.1%. Pudgy Penguins declined 26.6% over the same period.
Only two collections resisted the downturn: Infinex Patrons, which gained 11.3%, and Autoglyphs, which slipped only 1.9%, marking the smallest decline among major collections.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.