Memecoin Market Plummets as $5 Billion Wiped Out in One Day

The memecoin market experienced a devastating sell-off on Friday, dropping to its lowest valuation of 2025 and wiping out over $5 billion in value within just 24 hours. According to CoinMarketCap, the combined market capitalization reached only $39.4 billion, marking a dramatic shift from its peak of $116.7 billion in January. This significant decline comes after a broader downturn in the crypto market, causing even Bitcoin and Ethereum to suffer losses.