Meme Coins and NFTs Both Drop to Yearly Lows as Traders Abandon Speculative Assets
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BlockBeats News, November 21st, The meme coin market today plunged to its lowest valuation since 2025, with a total market cap dropping to $39.4 billion, evaporating over $5 billion in the past 24 hours, a decrease of about 66.2% from the historical high of $116.7 billion set on January 5th. Top meme tokens across the board saw a sharp decline, with the top ten meme coins showing declines in the past 1 hour, 24 hours, and 7 days, with DOGE and SHIB recording double-digit losses, and TRUMP experiencing the smallest drop but still falling by 11.65%.
The total market cap of NFTs today dropped to $2.78 billion, down 43% from $4.9 billion 30 days ago, hitting the lowest point since April. Over the past 30 days, most of the top ten NFT collections have seen double-digit declines, with the Hyperliquid Hypurr NFT series experiencing the largest drop of 41.1%. Additionally, Moonbirds fell by 32.7%, CryptoPunks by 27.1%, and Pudgy Penguins by around 26.6%.
Meanwhile, the entire crypto market cap has fallen from $3.77 trillion on November 1st to $2.96 trillion, evaporating $800 billion in three weeks.
-- Price
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