In accordance with Coindesk, the memecoin market, which reached a peak of $150.6 billion in late 2024, has since declined by nearly 70% to a total market capitalization of just over $47 billion as of November 2025, according to the CoinGecko State of Memecoins Report 2025. Daily trading volumes also dropped to under $5 billion earlier this month, down from a high of $87 billion in 2024. DOGE accounts for $20 billion of the total market cap, with INU, TRUMP, and PEPE collectively making up another $6 billion. Independent memecoins continue to dominate over 86% of the sector, while most launchpad tokens failed to build durable liquidity.
Memecoin Market Cap Falls 70% to $47 Billion After $150 Billion Peak in 2024
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Summary
Memecoin market cap fell 70% to $47 billion in November 2025, down from a $150.6 billion peak in late 2024, per the CoinGecko State of Memecoins Report 2025. Daily market report data shows trading volumes dropped below $5 billion, compared to $87 billion in 2024. DOGE leads with $20 billion, while INU, TRUMP, and PEPE add $6 billion. Independent memecoins hold over 86% of the sector, as most launchpad tokens failed to sustain liquidity. Traders are now eyeing altcoins to watch for potential rebounds.
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