Memecoin market sinks to 2025 low as $5B wiped out in a day

Memecoins and NFTs have hit their lowest levels of 2025, with a combined market capitalization for memecoins dropping to $39.4 billion, down from $44 billion, losing over $5 billion within 24 hours. This decline represents a 66.2% drop from the year's peak of $116.7 billion in January. The total crypto market cap has also seen a significant reduction, falling from $3.77 trillion to $2.96 trillion, erasing $800 billion in three weeks. Bitcoin traded at $82,778, down 14.7% over the past week, while Ether fell to $2,688, suffering a 16% loss. The top 10 memecoins have recorded losses across all time frames, with Dogecoin and Shiba Inu posting significant declines. The NFT market has also slumped, with its valuation cut to $2.78 billion, reflecting a 43% decrease over the past month. Most top NFT collections showed double-digit losses, highlighting diminishing demand in speculative assets across the crypto sector.

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