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NFT and Meme Coin Markets Rebound Sharply in One Week🚀
There have been some interesting movements in the crypto asset market over the past few days. The total market capitalization of NFTs has recovered from $3.5 billion to $3.9 billion (+12%), and meme coins have also risen from $47 billion to $52 billion (+11%) during the same period.
The fact that a sector that had dropped by 46% in mid-October is bouncing back this much is proof that interest in risk assets is returning. However, the movement is quite polarized.
[NFT Side Status]
- Performing well: CryptoPunks (+22.8%), Mutant Ape (+36.5%), Milady (+80%)
- Underperforming: BAYC (-10.3%), Pudgy Penguins (-23%)
→ In other words, popularity is tending to concentrate
[Meme Coin Side]
Here, the trend is generally upward. DOGE (+8.7%), SHIB (+10.4%), and PEPE (+7%) are performing solidly. Even Solana-based Bonk (+11.8%) and Dogwifhat (+14.2%) are rising together.
Conclusion: The market is shifting towards risk-on, but there still seems to be some bearishness remaining in NFTs. Another trigger may be needed for a full-scale rebound.