Memecoins plunged to their lowest valuation in 2025 on Friday, dropping to a combined market capitalization of $39.4 billion, according to data aggregator CoinMarketCap.
The sector shed over $5 billion in 24 hours, declining from $44 billion despite a 40% increase in trading volume. This marks a big reversal from the year’s peak on Jan. 5, when the memecoin market cap collectively hit a high of $116.7 billion. Friday’s rout marks a 66.2% drawdown from the 2025 high.
The sharp sell-off mirrors a broader decline across the digital asset market. CoinGecko data shows that the total crypto market cap fell from $3.77 trillion on Nov. 1 to $2.96 trillion on Friday, wiping out $800 billion in just three weeks.
At the time of writing, Bitcoin (BTC), the market’s top asset, traded at $82,778, down 14.7% over the past week. Ether (ETH) showed similar losses, falling 16% to $2,688 over the seven-day period.
Memecoin market capitalization one-year chart. Source: CoinMarketCap
Top memecoins bleed across all timeframes
At the time of writing, the top 10 memecoins by valuation are deep in the red across every major time frame, including the 1-hour, 24-hour and seven-day charts. This suggests that the risk appetite in the sector declined.
The biggest memecoins, Dogecoin (DOGE) and Shiba Inu (SHIB), posted double-digit losses, while tokens like Pepe (PEPE), Bonk (BONK) and Floki (FLOKI) saw even steeper declines.
Top 10 memecoins by market capitalization. Source: CoinMarketCap
Across the board, seven-day drops ranged from 11% on the low end to over 20% for the tokens hit the hardest.
United States President Donald Trump’s Official Trump (TRUMP) memecoin was the least affected, but still slid 11.65% over the past week. The token is followed by Dogecoin, which declined 14.10% and SPX6900, which lost 14.26% in value.
Bonk, Pudgy Penguiins (PENGU), Pepe and Dogwifhat (WIF) recorded the deepest weekly losses at about 20% each.
Related: BlackRock Bitcoin ETF sheds $2.47B in November as outflows hit record $3.79B
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