Memecoins go from Christmas cheer to cold reality, sinking 65% in a year

Once a barometer of retail hype, memecoins are closing the year with shrinking liquidity, weaker participation and fading speculative momentum.

Memecoins are trading near year-end lows, marking a sharp reversal from the speculative peak reached in Christmas 2024.

Memecoins fell 65% over the year to a market capitalization of $35 billion on Dec. 19, their lowest level of 2025, according to CoinMarketCap data. They retraced some losses on Friday, rising to about $36 billion.

Last year, memecoins thrived on Christmas Day, recording about $100 billion in valuation, according to CoinMarketCap data.

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