LONDON (IT BOLTWISE) – The memecoin market has experienced a dramatic decline, falling to its lowest level of 2025. Over $5 billion in market value was wiped out in just 24 hours, further adding to the uncertainty in the cryptocurrency industry.
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The memecoin market hit an all-time low on Friday as the total value fell to $39.4 billion. Over $5 billion was pulled out of the market in one day, despite a 40% increase in trading volume. This represents a drastic decline of 66.2% from the year’s peak on January 5, when the market cap reached $116.7 billion.
This plunge reflects a broader decline in the overall digital asset market. According to data from CoinGecko, the total cryptocurrency market cap fell from $3.77 trillion on November 1 to $2.96 trillion on Friday, marking a loss of $800 billion in just three weeks. Bitcoin, the leading asset in the market, was last traded at $82,778, down 14.7% over the past week.
The largest memecoins such as Dogecoin and Shiba Inu also suffered significant losses. Dogecoin fell 14.84% and Shiba Inu fell 11.76% in 24 hours. Other tokens like Pepe and Bonk saw even steeper declines of over 16%. These losses suggest that risk appetite in this sector has fallen significantly.
At the same time, the market for non-fungible tokens (NFTs) has also suffered significant losses. The market value of NFTs fell to $2.78 billion, down 43% from the $4.9 billion value 30 days ago. This is the lowest level since April and shows slowing demand for digital collectibles.
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