The recent performance of the cryptocurrency market reveals a cautiously optimistic shift, with both the NFT and meme coin sectors experiencing a gradual recovery after a temporary decline. This increase suggests renewed investor interest and potential stabilization of risk appetite despite continued macroeconomic uncertainty and an unresolved U.S. fiscal dispute. As traders once again invest in riskier assets, the broader crypto market is closely monitoring whether the momentum can be sustained in the face of continued volatility and regulatory challenges.
- Global NFT market capitalization rose nearly 12% in one week, recovering from a steep decline.
- Meme coins showed broad gains across major tokens, with some reaching double-digit gains.
- While select NFT collections such as CryptoPunks and Mutant Ape Yacht Club recorded notable sales increases, large-scale blue-chip NFTs continued to decline.
- Blockchain performance has been mixed across NFT-focused ecosystems, with BNB chains, Polygon, and Flow outperforming other chains.
- While the sector’s recent gains suggest increased confidence among traders, liquidity remains concentrated in a few collections.
NFT and meme coin market recovery
NFT and meme coin markets have seen a modest rebound over the past week as optimism has returned to crypto traders. According to data from CoinGecko, the global NFT market capitalization has increased from about $3.5 billion on November 5 to $3.9 billion today, an increase of about 12% in just seven days. At the same time, the total valuation of meme coins expanded from $47 billion to $52 billion, an 11% increase in the week. These moves highlight a renewed appetite for speculation as traders pour money into riskier digital assets amid continued macroeconomic uncertainty.
This rally follows a significant downturn that saw the total value of NFTs plummet 46% between October 5th and November 5th. Nevertheless, the current recovery points to the possibility of stabilization, indicating that some investors are eyeing a possible bottoming out of the recent decline.
Performance of selective NFT collections
While some collections are gaining momentum, not all blue-chip NFTs are rebounding the same way. According to CryptoSlam, only certain top-tier collections recorded significant sales increases. CryptoPunks’ weekly sales rose 22.8% to near $3 million, while Mutant Ape Yacht Club and Milady Maker soared 36.5% and 80%, respectively. Similarly, smaller Ethereum projects like the Polygon-based Courtyard project and Lil Pudgys also showed significant growth, registering over 14% and 24%, respectively.
Conversely, prominent NFTs such as Bored Ape Yacht Club, Pudgy Penguins, and Moonbirds continue to face declines. BAYC sales were down 10.3%, Pudsey Penguins and Moonbirds were down 23% and 2%. Overall, major NFT marketplaces for top blockchains saw sales volumes decline by 6% to 42%, while some chains such as BNB Chain, Polygon, and Flow recorded significant increases of 53%, 9.3%, and 43%, respectively. This divergence highlights a fragmented recovery driven primarily by a small number of high-momentum collections and blockchain ecosystems.
Widespread benefits across meme coins
In contrast to the NFT market, the memecoin sector showed broader positive trends. Over the past week, all of the top 10 meme coins by market capitalization have recorded gains. Dogecoin (DOGE) rose 8.7%, Shiba Inu (SHIB) rose 10.4%, and Pepe (PEPE) rose 7%. Notably, Solana-based tokens such as Bonk (BONK) and Dogwifhat (WIF) rose 11.8% and 14.2%, respectively. The surge was led by US President Donald Trump’s official meme coin, which rose 14.2%, highlighting the growing enthusiasm and speculative interest in the sector.