Memecoin Market Sinks to 2025 Low as $5B Wiped Out in a Day

Why It Matters

The sharp correction underscores waning speculative appetite for high‑risk crypto assets, pressuring valuations and potentially curbing future fundraising and development in the memecoin and NFT ecosystems.

Summary

The memecoin market plunged to its lowest valuation since early 2025, with combined market cap falling to $39.4 billion—a $5 billion loss in 24 hours and a 66.2% drawdown from the Jan. 5 peak of $116.7 billion. The sell‑off occurred despite a 40% surge in trading volume and coincided with a broader crypto market contraction, as total crypto cap slid from $3.77 trillion to $2.96 trillion, erasing $800 billion in three weeks. Leading memecoins such as Dogecoin, Shiba Inu, Pepe, Bonk and Floki posted double‑digit weekly declines, while the NFT sector also hit a low, with market cap dropping to $2.78 billion, a 43% fall from a month earlier.