NFT and Memecoin Markets Rebound With 12% and 11% Gains
NFT and memecoin markets rebound as risk sentiment improves and traders return to high-risk assets. Global NFT market cap rose 12% week-on-week to $3.9 billion, while memecoin valuation climbed 11% to $52 billion.
Blue-chip NFTs led the rally: CryptoPunks +22.8%, Mutant Ape Yacht Club +36.5%, Milady Maker +80%. By contrast, BAYC, Pudgy Penguins and Moonbirds saw muted trading. Top NFT blockchains outperformed: BNB Chain +53%, Flow +43%, Polygon +9.3%.
The memecoin rally was broad-based. DOGE +8.7%, SHIB +10.4%, PEPE +7%, BONK +11.8%, Dogwifhat +14.2% and Trumpcoin +14.2%. Renewed speculative demand and improved market liquidity point to a bullish short-term outlook. Traders should monitor trading volumes, on-chain metrics and macro catalysts to gauge the sustainability of this rebound.
Bullish
The rebound in NFT and memecoin markets reflects renewed trader appetite for high-risk assets and an improved risk sentiment environment. Short-term price momentum is supported by double-digit gains in both NFT market cap (+12%) and memecoin valuation (+11%), driven by blue-chip NFT sales and broad-based memecoin rallies. This suggests a bullish outlook as liquidity and trading volumes rise. However, ongoing macro uncertainties warrant monitoring of on-chain metrics, trading volumes and macro catalysts to confirm sustainability beyond this initial upswing.