Dogecoin Liquidation, Memecoin Crash and NFTs in the Crypto Market

Intro

Some weeks the cryptocurrency market gently trends sideways. This was not that week. Dogecoin ran a liquidation speedrun, meme coins collectively yeeted $5 billion in value, and NFT sales slid while Bored Ape Yacht Club casually posted a 37% flex. If you feel like the market is personally subtweeting you, welcome home. In this roundup, we’ll zoom in on three bits of crypto news that inspired our latest crypto memes — Doge in a trading dungeon, meme-coin group therapy, and a gallery of NFTs down bad while one smug ape pumps — and extract actual insight for people who do more than just farm likes on X.

Dogecoin Liquidation Speedrun: 165,815% in One Hour

Source: KuCoin News, Nov 22, 2025

According to KuCoin’s flash update, Dogecoin futures experienced a wild one-hour window where liquidation imbalance spiked to 165,815%, wiping out roughly $462,000 in positions, with long traders taking the heaviest hit. The Dogecoin price only slipped around 1.5%, but leverage turned that tiny move into a full-blown account obituary for overconfident degens. This all unfolded as a leveraged Dogecoin ETF product helped pump trading volume back up, proving once again that in crypto trading, risk management is more of a vibe than a rulebook.

The Serious Bits

• Leverage as Entertainment: Treating perpetuals like a casino means even small price moves can nuke accounts. The BTC and ETH market rout pushed traders into riskier meme coins, amplifying volatility.
• ETF Fuel on the Fire: A leveraged DOGE ETF helped pull fresh volume into an already frothy corner of the cryptocurrency market, showing how TradFi-style products can intensify meme-driven speculation.
• Signal for Retail Sentiment: When people are still 100x long on a dog coin while Bitcoin price grinds lower, you know retail hasn’t fully capitulated. That matters for broader blockchain trends and altcoins.

Our “DOGE LIQUIDATION SPEEDRUN” meme — dead-eyed Shiba trader in a neon-lit bunker, giant red candle on CRT screens — is funny because it’s brutally accurate. Under the pixels is a reminder: if your risk management strategy is “ngmi but yolo,” the market will eventually speedrun your net worth, no matter what your favorite crypto memes say.

Memecoin Market Group Therapy: $5B Vanishes in a Day

Source: Binance News, Nov 22, 2025

Binance’s latest post on the memecoin sector reads like the script for our “NUMBER GO DOWN THERAPY” artwork. The combined market cap of major meme coins plunged to around $39.4 billion, down more than $5 billion in 24 hours and roughly 66% off the January peak. Trading volume actually jumped, but in that panic kind of way, as traders dumped speculative tokens while BTC and ETH slid and the wider crypto market shed hundreds of billions. DOGE, SHIB, PEPE, BONK and friends were all painted red across every timeframe, turning “fun” meme coins into very real pain.

The Serious Bits

• Risk-On Beta to BTC: Meme coins are high-beta leverage on Bitcoin price and overall crypto sentiment. When BTC and ETH go risk-off, meme coins don’t just follow — they exaggerate the move.
• Rotation Out of Pure Speculation: The crash suggests capital is rotating away from pure hype into more defensible altcoins, DeFi protocols and infrastructure plays that actually ship product in Web3.
• Liquidity and Regulation Overhang: Thin liquidity plus growing talk of tighter crypto regulations make meme coins the first thing traders cut when volatility spikes, even if they fuel the best crypto memes.

In the meme, we turned this into a cozy cyberpunk support circle: exhausted cartoon animals representing DOGE, SHIB, PEPE and BONK sipping coffee under a “MEMECOIN INDEX” chart pointing straight down. It lands because anyone who has ever watched their bags implode knows that after the rage comes the group-therapy phase — and yet, the same people will be back in the next hype cycle, refreshing crypto news for the next 100x narrative.

NFTs Down Bad, Apes Up Only: $72.5M Week

Source: crypto.news, Nov 22, 2025

Over in JPEG land, crypto.news reports that weekly NFT sales dropped about 5% to $72.53 million, even as the number of buyers and sellers spiked and total transactions fell. The macro backdrop is rough: Bitcoin price hovering in the mid-$80,000s, ETH slipping below the $2,800 level, and overall market cap sliding. Yet in the middle of this, Bored Ape Yacht Club volumes popped roughly 37% on the week, while many other collections bled. So NFTs as a whole are down bad, but one of the most famous blue-chip avatar projects is quietly partying.

The Serious Bits

• Flight to “Quality” JPEGs: When NFTs hurt, traders consolidate into brands with the deepest liquidity and strongest narratives. BAYC, Pudgy Penguins, CryptoPunks and similar sets act like blue-chip stocks of the NFT economy.
• Speculation vs. Utility: Despite all the talk of real-world assets, gaming and DeFi-NFT crossovers, volume still chases flex value. That tells us how early the broader Web3 narrative really is.
• Chain Wars Under the Hood: Ethereum remains the main NFT base, but Solana, Polygon and Mythos chains are quietly pulling users. Those flows influence gas demand, ETH price dynamics and future Ethereum update priorities.

Our “NFTS DOWN BAD / APES UP ONLY” meme shows a tired collector slumped in a neon gallery of red floor-price charts while a glowing green ape avatar floats above with a +37% tag. It captures the emotional gap between holding random art and holding the one collection the market still worships. In the cryptocurrency market, inequality is real — even among profile pictures.

Trend Radar

• Leverage as Content: Extreme liquidation events in DOGE futures show how crypto trading itself has become entertainment, blurring the line between risk management and clout chasing.
• Meme Coins as Sentiment Gauge: When meme coins implode faster than BTC and ETH, it usually signals a risk-off shift that can spill into altcoins, DeFi tokens and even large-cap names.
• NFT Flight to Safety: Blue-chip NFT brands continue to soak up liquidity while the long tail thins out, reshaping how creators think about royalties and sustainable Web3 business models.
• ETF and Macro Gravity: ETF outflows, rate expectations and macro jitters now move the cryptocurrency market as much as on-chain news, tying crypto more tightly to traditional finance cycles.
• Infrastructure Over Hype: Capital is slowly rotating from pure meme coins into infrastructure, stable DeFi protocols and real-world asset plays that can survive beyond the current season of volatility.
• Regulators Watching the Circus: As leveraged ETFs, celebrity tokens and speculative NFTs dominate headlines, expect future crypto regulations to focus on consumer protection around the wildest corners of the market.

Meme-Maker’s Hot Take

Here’s the spicy version: none of this is new, it’s just louder. Every cycle, leverage overextends, meme coins implode, NFTs rediscover gravity, and then builders quietly keep shipping until the next wave of liquidity shows up. The difference now is that ETFs, institutional desks and policymakers are in the same room as the degen crowd. That means Bitcoin and Ethereum will increasingly move with macro data, while smaller altcoins, NFTs and meme coins keep acting as the casino attached to the serious part of the casino. If you can read the crypto news, laugh at the memes and still manage your risk, you might actually make it to the next bull run with both your bags and your sanity intact.

Outro

This week gave us a Dogecoin liquidation dungeon, a memecoin group-therapy circle and an NFT gallery where only the apes are up only. Next week, it might be an Ethereum update drama, a new DeFi exploit or fresh chaos in crypto regulations. Whatever the blockchain trends decide to throw at us, MEMEKAMI will be there, turning market pain into pixel art and crypto memes — so you can at least laugh while the candlesticks argue with your life choices.