Back on the scene: NFT and memecoin markets recover after a month-long slump

Back on the scene: NFT and memecoin markets recover after a month-long slump

After months of declines, the non-fungible token (NFT) and memecoin markets have seen a significant rebound in the past week. This trend reflects improved sentiment in cryptocurrency markets, although macroeconomic uncertainty still persists.

NFTs: selective growth and sharing success

The global NFT market cap increased from around $3.5 billion to $3.9 billion during the week, representing a nearly 12% increase. While the overall decline since October was 46%, some collections saw significant growth. For example, CryptoPunks rose by 22.8%, Mutant Ape Yacht Club by 36.5%, and Milady Maker by as much as 80%. Smaller projects like Lil Pudgys also performed well, with growth of around 24%.

On the other hand, big names like Bored Ape Yacht Club, Pudgy Penguins, and Moonbirds continued to lose value, with sales falling by 10-23%. This difference shows that growth is still concentrated in a few collections, while the broader market remains less active.

From a blockchain perspective, BNB Chain (+53%), Flow (+43%), and Polygon (+9.3%) dominate the growth. However, overall, most NFT segments saw a decline in sales volume over the past week.

Memecoins: Broad Growth Across the Market

Unlike NFTs, where success is concentrated in a few collections, memecoins posted significant gains thanks to the growth of all top tokens. Dogecoin (DOGE) strengthened by 8.7%, Shiba Inu (SHIB) by 10.4%, and Pepe by 7%. Other popular memecoins, such as Bonk on Solana, rose by 11.8%, while Dogwifhat by 14.2%.

Interestingly, US President Donald Trump’s memecoin has seen the most significant growth among major tokens, up 14.2% in a week.

Despite the uncertainty in the market, investors are starting to take notice of risky assets again, which suggests that the crypto community is starting to be more willing to speculate again.

Conclusion

While the overall situation in the cryptocurrency markets is still uncertain, recent weeks show that interest in NFTs and memecoins is returning. Some collections hold a strong position and attract investor attention, while the broader market remains divided. These developments indicate that the crypto space is still dynamic and full of surprises.

*This is not an investment recommendation.

The Coingarage Team