The memecoin sector has entered its steepest downturn of 2025. According to multiple analytics sources, the combined market capitalization of meme tokens fell to $39.4 billion on Friday — the lowest level since the beginning of the year. In just 24 hours, the sector lost more than $5 billion, despite trading volume surging by almost 40%.
The current slump stands in sharp contrast to January’s peak, when the market was valued at $116.7 billion. This means the sector has now dropped over 66% from its yearly high.
The broader crypto market is experiencing similar pressure. Experts note that the total capitalization of digital assets has fallen from $3.77 trillion in early November to $2.96 trillion, wiping out roughly $800 billion in just three weeks. Bitcoin traded around $82,778, down 14.7% for the week, while Ethereum hovered near $2,736. For comparison, Tesla shares slid 16% to $2,688 over the same period.
Leading memecoins continue to post heavy losses. Dogecoin and Shiba Inu declined as investors moved away from high-risk assets, while coins such as Pepe, Bonk, and Floki Inu saw even steeper drops. The memecoin associated with Donald Trump’s account fell 11.65%. Dogecoin slid 14.10%, and Bonk, Pudgy Penguins, Pepe, and Dogwifhat each lost around 20%.
The NFT market is also under severe pressure. The segment’s capitalization fell to $2.78 billion, marking a 43% monthly decline — the lowest reading since April and a reflection of shrinking demand for digital collectibles.
The biggest losers included Hypurr by Hyperliquid, which plunged 41.1%. Moonbirds fell 32.7%, while CryptoPunks dropped 27.1%. Analysts note that memecoins and NFTs are currently experiencing the sharpest losses across the digital asset ecosystem.
