Memecoins experienced a significant downturn on Friday, reaching their lowest valuation of 2025 with a combined market capitalization of $39.4 billion, according to data aggregator CoinMarketCap.
The memecoin sector saw a decline of over $5 billion in a 24-hour period, dropping from $44 billion despite a notable 40% increase in trading volume. This downturn represents a substantial reversal from the year's peak on January 5, when the memecoin market cap collectively reached a high of $116.7 billion. Friday's sharp decline signifies a 66.2% drawdown from the 2025 high.
This steep sell-off mirrors a broader trend of decline across the digital asset market. Data from CoinGecko indicates that the total cryptocurrency market cap fell from $3.77 trillion on November 1 to $2.96 trillion on Friday, resulting in the evaporation of $800 billion in just three weeks.
At the time of reporting, Bitcoin (BTC), the market's leading asset, was trading at $82,778, marking a 14.7% decrease over the past week. Ether (ETH) exhibited similar losses, falling 16% to $2,688 during the same seven-day period.
Top Memecoins Bleed Across All Timeframes
As of the time of writing, the top 10 memecoins by valuation were showing significant losses across all major time frames, including the 1-hour, 24-hour, and seven-day charts. This widespread decline suggests a diminished risk appetite within the sector.
The most prominent memecoins, Dogecoin (DOGE) and Shiba Inu (SHIB), recorded double-digit losses. Other tokens, such as Pepe (PEPE), Bonk (BONK), and Floki (FLOKI), experienced even steeper declines.
Across the board, seven-day drops ranged from 11% on the lower end to over 20% for the tokens that were most significantly impacted.
The Official Trump (TRUMP) memecoin, associated with United States President Donald Trump, showed the least impact but still slid 11.65% over the past week. Following TRUMP, Dogecoin declined 14.10%, and SPX6900 lost 14.26% of its value.
Bonk, Pudgy Penguiins (PENGU), Pepe, and Dogwifhat (WIF) recorded the steepest weekly losses, each dropping approximately 20%.
NFTs Slide to Lowest Valuation Since April
The non-fungible token (NFT) market, another speculative segment of the crypto ecosystem, also experienced substantial losses, mirroring the downturn in memecoins and the broader digital asset market.
Data from CoinGecko shows that the NFT market cap fell to $2.78 billion on Friday. This represents a 43% decrease from its $4.9 billion valuation recorded 30 days prior. This figure marks the lowest market cap for digital collectibles since April, indicating a fading demand for NFTs.
A majority of the top 10 NFT collections posted double-digit declines over the last month. The most significant loser was Hyperliquid's Hypurr NFTs, which dropped 41.1% in 30 days.
Following Hypurr, Moonbirds and CryptoPunks recorded losses of 32.7% and 27.1%, respectively. Pudgy Penguins also experienced a decline of approximately 26.6% within the same time frame.
Only two collections managed to buck the sector-wide slump. Infinex Patrons posted an 11.3% gain in the last 30 days, making it the top performer among the top 10 NFT collections.
Meanwhile, Autoglyphs maintained a relatively stable position, with a loss of only 1.9%, which was the smallest decline observed within the group.