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Meme Coins and NFTs Both Drop to Yearly Lows as Traders Abandon Speculative Assets
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.
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