NFTs & Memecoins Bounce Back: A Desperate Cry for Hope?

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In the shadowed corners of the digital realm, where once only echoes of despair lingered, the NFT and memecoin markets stirred like sleepwalkers awakening to the faintest whisper of hope. The global NFT market capitalization, a ghost of its former self at $3.5 billion on Nov. 5, now dances at $3.9 billion-a paltry 12% increase, yet enough to make one clutch their crypto with trembling hands. 🎭

The memecoins, ever the jokers in the deck, followed suit, their combined valuation leaping from $47 billion to $52 billion. An 11% surge, modest as it is, feels like a child’s first step on a tightrope. Traders, like moths to a flame, return to higher-risk assets, though the looming specter of macro uncertainty-courtesy of America’s fiscal indecision-casts a long, uninvited shadow. 🌫️

This rebound, however, is a mere hiccup in a season of woe. As CryptoMoon once lamented, the NFT marketcap had plummeted 46% from Oct. 5 to Nov. 5. Now, it clings to life like a vine in a storm. 🌧️

Not all blue-chip NFTs recovered

CryptoSlam’s data reveals a tale of two worlds: while CryptoPunks, Mutant Apes, and Milady Makers basked in a 22.8%, 36.5%, and 80% sales surge respectively, the Bored Apes, Pudgy Penguins, and Moonbirds wallowed in decline. BAYC’s sales dropped 10.3%, a fall not so much tragic as… inconvenient. 🐵

Among blockchains, BNB Chain (+53%), Polygon (+9.3%), and Flow (+43%) shone like stars in a foggy sky, while others dimmed. The NFT uptick, it seems, is a feast for the chosen few, leaving the rest to sip from the dregs of liquidity. 🍷

Memecoin gains spread widely across the sector

If NFTs are a whispered secret, memecoins are a drunken toast. Dogecoin (DOGE) rose 8.7%, Shiba Inu (SHIB) 10.4%, and Pepe (PEPE) 7%. Solana’s Bonk (BONK) and Dogwifhat (WIF) joined the revelry with 11.8% and 14.2% gains. Even Donald Trump’s memecoin, that unlikely phoenix, soared 14.2%. 🐶

One might call it a renaissance-or simply the last gasp of a dying market, grasping at any meme to prop itself up. Either way, the stage is set for a performance only crypto could love. 🎭

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2025-11-11 13:32