The non-fungible token (NFT) and memecoin markets saw modest recoveries over the past week, aligning with a broader uptick in risk sentiment across the crypto sector.
According to CoinGecko, the global NFT market capitalization rose from roughly $3.5 billion on Nov. 5 to $3.9 billion, marking an almost 12% increase in just seven days.
A similar trend played out in the memecoin market. Data from CoinMarketCap showed the combined valuation of leading memecoins climbed from $47 billion to $52 billion, an 11% weekly gain.
The rebound suggests a renewed speculative appetite among traders, who appear to be rotating back into higher-risk assets following weeks of subdued activity. This shift comes despite ongoing macroeconomic uncertainty surrounding the unresolved U.S. government funding negotiations.
The latest upswing follows a sharp downturn in NFT valuations earlier this month. As Cointelegraph previously reported, the global NFT market capitalization plunged 46% between Oct. 5 and Nov. 5, before this recent stabilization and recovery took hold.
Blue-Chip NFT Recovery Remains Uneven
Not all top-tier NFT collections shared in the recent market rebound, according to sales data from CryptoSlam. Only a handful of major projects among the top 20 posted significant week-over-week gains.
CryptoPunks led the recovery with a 22.8% jump in seven-day sales, totaling nearly $3 million. Mutant Ape Yacht Club and Milady Maker also saw strong rebounds, climbing 36.5% and 80%, respectively. On Polygon, Courtyard recorded a 14% increase, while smaller Ethereum-based collections such as Lil Pudgys rose about 24%.
However, several blue-chip names continued to slide. Bored Ape Yacht Club (BAYC) sales fell 10.3% over the week, while Pudgy Penguins and Moonbirds dropped 23% and 2%, respectively.
Across blockchains, most of the top 10 networks by NFT sales volume saw declines ranging from 6% to 42%. The exceptions were BNB Chain (+53%), Polygon (+9.3%), and Flow (+43%), which all bucked the broader downtrend.
The mixed performance highlights that the current NFT recovery remains highly selective, concentrated in collections with stronger community engagement and trading momentum, while overall liquidity and market participation remain subdued.
Memecoin Rally Broadens Across the Market
In contrast to the selective recovery seen in NFTs, the memecoin sector experienced a broad-based upswing, with all of the top 10 tokens by market capitalization posting gains over the past week.
Dogecoin (DOGE) rose 8.7%, while Shiba Inu (SHIB) and Pepe (PEPE) advanced 10.4% and 7%, respectively. On Solana, leading memecoins also rallied, with Bonk (BONK) jumping 11.8% and Dogwifhat (WIF) gaining 14.2%.
The standout performer among large-cap memecoins was Donald Trump’s official token, which surged 14.2% over the week, outpacing its peers.
The synchronized rise across major memecoins suggests a renewed wave of speculative enthusiasm, as traders reenter riskier segments of the crypto market amid improving sentiment.
