Memecoins’ Glorious Fall: Back to Humble July Beginnings! 😂🥺

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In the grand theater of human folly, where wallets brim with hope and despair dances a clumsy jig, the memecoin sector has tumbled back to the modest days of July, as these whimsical tokens grapple with the hangover of the crypto world’s tempestuous Friday soirée.

Data from CoinMarketCap reveals that on Oct. 11, the memecoin empire contracted to a paltry $44 billion-a plunge of nearly 40%, from $72 billion the day prior. By Oct. 12, it clawed back to $53 billion, echoing the far-off whispers of July before a Solana-driven memecoin carnival sparked a late-summer romp. How swiftly ambition inflates the balloon, only for reality to prick it with cruel precision! 😏

These last four months, the memecoin market cap lounged above $60 billion, buoyed by the fickle affections of retail throngs, courtesy of Solana and BNB Chains. Yet, this recent nosedive whispers of a cruel reversal, like a lover’s neglect that turns fondness to dust.

As I pen this, the sector wallows at $57 billion, a shadow of its erstwhile glory. Oh, the irony of permanence in impermanence! 💸

Top memecoins wail in the wake of Friday’s crimson deluge

CoinMarketCap decrees that the top 10 memecoins command about $47 billion, over 82% of the theater’s spoils. All, alas, trade in scarlet hues on both 24-hour and seven-day ledgers, a symphony of sorrow.

Majestic beasts like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have shed 13-22% weekly, weeping like forgotten souls. Other luminaries-Bonk (BONK) and Floki (FLOKI)-have dived over 20%, while the President’s own token, that vainglorious emblem, has diminished by 20% in the fortnight. Sarcasm: Because who needs stability when drama abounds? 🙄🚀

Even the Commander-in-Chief’s nom de plume coin succumbed to the fray, now 20% adrift in the weekly tides.

Other domains rebound with aristocratic haste post-crash

While memecoins nurse their bruises like convalescents in a Chekhovian sanatorium, other realms have darted back to form with enviable poise.

A mere day after the rout, non-fungible tokens (NFTs) pirouetted upward. The NFT domain lost $1.2 billion-20% vaporized-yet reclaimed 10% the morn after, resilient as a jilted lover feigning indifference. 🤑

Crypto exchange-traded funds (ETFs), too, wooed fresh suitors amidst outflows. Tuesday saw spot Bitcoin ETFs swell with $102 million in inflows, Ether ETFs basking in $236 million-recovery’s sweet embrace!

Elder cryptocurrencies regained their composure swiftly. Bitcoin (BTC), plunged to $102,000, now ascends above $111,000 per CoinGecko. Ether (ETH), sunken below $3,700, resurfaces past $4,000. How these storied titans shrug off tempests, while the pups whimper! 😆

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2025-10-16 14:27