The memecoin sector’s market cap dropped to $44 billion, a 40% plunge from $72 billion the previous day, before slightly recovering to $53 billion. Top memecoins like DOGE, SHIB, and PEPE saw weekly losses from 13%-22%, while Bonk and Floki dropped by over 20%. Trump’s memecoin token also fell by 20%.

Non-fungible tokens (NFTs) quickly bounced back after a 20% drop, regaining 10% the day after the crash. Crypto ETFs saw fresh inflows post-market meltdown, with Bitcoin trading above $111,000 and Ether above $4,000. Other sectors, like more established cryptocurrencies, stabilized faster after the crash.

Read more at Cointelegraph: Memecoins Drop to July Levels as Bitcoin and Ether Lead Market Recovery