Memecoins dropped to their lowest valuation of 2025 on Friday, falling to a combined market capitalization of $39.4 billion, according to CoinMarketCap.
The sector lost more than $5 billion in a single day, sliding from $44 billion despite a 40% jump in trading volume. It’s a sharp reversal from the January 5 peak, when memecoins collectively reached $116.7 billion. Friday’s decline represents a 66.2% drawdown from that high.
The steep slump reflects a broader downturn across digital assets. CoinGecko data shows the total crypto market cap slipped from $3.77 trillion on Nov. 1 to $2.96 trillion on Friday — a staggering $800 billion erased in just three weeks.
As of press time, Bitcoin traded at $82,778, down 14.7% over the past week. Ether followed a similar trend, dropping 16% to $2,688 over the same period.
Top memecoins are seeing losses across every timeframe
As of now, the 10 largest memecoins by market cap are in the red across all major intervals — including the 1-hour, 24-hour, and 7-day charts — signaling a clear pullback in risk appetite within the sector.
Market leaders Dogecoin and Shiba Inu logged double-digit declines, while tokens such as Pepe, Bonk, and Floki suffered even sharper drops.
Over the past week, losses across major memecoins ranged from 11% on the low end to more than 20% for the hardest-hit tokens.
U.S. President Donald Trump’s Official Trump memecoin was the most resilient, though it still fell 11.65% for the week. It was followed by Dogecoin, down 14.10%, and SPX6900, which dropped 14.26%.
Bonk, Pudgy Penguins, Pepe, and Dogwifhat posted the steepest declines, each shedding roughly 20% over the same period.
NFTs drop to their lowest valuation since April
The NFT market — another speculative segment of the crypto landscape — also suffered heavy losses in tandem with memecoins and the broader digital asset downturn.
According to CoinGecko, the NFT market cap slid to $2.78 billion on Friday, down 43% from $4.9 billion just 30 days prior. This marks the lowest valuation for digital collectibles since April and signals waning demand for NFTs.
Most of the top 10 NFT collections saw double-digit losses over the past month, with Hyperliquid’s Hypurr NFTs leading the declines after plunging 41.1% in 30 days.
Moonbirds and CryptoPunks followed, dropping 32.7% and 27.1%, respectively, while Pudgy Penguins shed roughly 26.6% over the same period.
Only two major collections managed to resist the broader downturn. Infinex Patrons gained 11.3% in the last month — the strongest performance among the top 10 — and Autoglyphs held relatively stable with a modest 1.9% decline, the smallest drop in the group.
