Market Downturn Affects Speculative Assets
The meme coin and NFT markets have experienced a sharp decline, with valuations plummeting on November 21, 2025, marking the lowest levels seen since previous record highs. This downturn signifies a broad market deleveraging, significantly impacting speculative assets and shaking investor confidence across the cryptocurrency landscape.
Meme Coins See Substantial Losses Amid Market Deleveraging
Meme coins and NFTs have reached new valuation lows, according to BlockBeats News. The meme coin market cap declined to $39.4 billion, representing a 66.2% drop from its peak. Major meme coins such as DOGE, SHIB, and TRUMP coins saw sharp declines, with few leadership comments noted across social media platforms.
Analysts report a $5 billion value reduction in meme coin markets within 24 hours, highlighting heightened volatility across top tokens. In the NFT sector, the total market cap is $2.78 billion, marking a 43% drop in a month, with prominent collections like Hyperliquid Hypurr and CryptoPunks affected.
"The rapid decline in NFT market caps, hitting yearly lows, underscores the speculative bubble popping in the digital asset space." - James P. Kwan, Crypto Commentator
NFT Market Cap Plummets Amid Collection Value Drops
The current crash in meme coin and NFT valuations marks a reversal to levels not seen since April 2025, showcasing a typical pattern following major ETH and BTC corrections.
As of November 21, 2025, Dogecoin's (DOGE) market cap nears $20.83 billion, with a 24-hour trading volume change of 66.89%. Over recent periods, DOGE fell by 13.04% in 24 hours, reflecting broad market pressures on speculative assets, according to CoinMarketCap.
Coincu insights suggest that the current downturn might precipitate potential regulatory changes aimed at enhancing transparency in high-volatility segments. Historical trends indicate possible recovery aligned with broader crypto market stabilization dynamics. However, recent analysis shows that Dogecoin could be approaching a breakout point.