The meme coin sector is ending 2025 on a difficult note, with market data showing a steep decline in value and investor interest. Over the past 12 months, meme-based crypto projects have collectively shed close to $14 billion in market capitalisation as prices slumped alongside a broader downturn and weakening retail demand.
Eight of the ten largest meme coins now sit on significant double-digit losses, reflecting a sharp shift in sentiment toward more utility-driven digital assets. This downturn has also eroded the sector’s overall presence in the crypto landscape.
According to figures from BestWallet.com, meme coins now account for just 1.2% of the total crypto market cap, marking a 0.5% decline compared to the same period last year.
Meme Coins` Market Share Plunged 4x in Just Year and a Half
After the ups and downs of 2023 and a dramatic comeback in 2024, stricter global regulations and fading retail enthusiasm have turned 20205 into a rough year for major meme coins. Many retail investors pulled out amid rising market volatility, leaving most leading tokens with massive double-digit losses. According to CoinMarketCap data, eight of the ten largest meme projects by market capitalization have suffered double-digit price drops year-to-date, with each losing between 20% and 80% of their value.
And while this shakeout has opened the door for a new wave of memes like Bitcoin Hyper, Maxi Doge, and Pepenode, projects built on community-driven models, presale buzz, and fresh tokenomics, the aftermath still saw billions wiped from total market cap and a massive plunge in meme coins` market share.
Last November, the meme coin market cap stood at $60 billion, accounting for 1.79% of the total crypto market cap. Since then, meme coins have collectively lost close to $14 billion, bringing their combined value down to $46.7 billion last week and dragging their market share to 1.23%. This represents a considerable 0.5% drop in a single year, and a fourfold decline from the July 2024 peak, when meme projects made up nearly 5% of the total crypto market cap.
Shiba Inu, Pepe, and Dogecoin Top with $5.9B, $2.2B, and $2.1B in Market Cap Losses
Traditional meme coins and market veterans like Dogecoin, Shiba Inu, and Pepe, all heavily reliant on community hype and with limited real-world adoption, were among the first to crumble when sentiment turned risk-off, suffering the biggest dollar-value losses among all major memes.
The CoinMarketCap data show that Shiba Inu suffered the biggest wipeout, losing a massive $5.9 billion in market cap year-over-year. Pepe and Dogecoin followed, each losing roughly $2.2 billion in value since last November. Dogwifhat, Pudgy Penguins, Floki, Bonk, and SPX6900 follow, with losses of $1.9 billion, $850 million, $750 million, $500 million, and $200 million, respectively.
Altogether, these eight projects have collectively lost a staggering $13.6 billion in combined market cap, making 97% of the total meme coin market cap decline over the past year.
