Both memecoins and NFTs have plunged to their weakest levels since early 2025, with traders pulling back from speculative assets across the board.
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.
