Analyzing the Current NFT Market Trends
The non-fungible token (NFT) market is experiencing a downturn, with its market capitalization reducing by 5% to $7 billion. This decline comes despite robust trading volumes. The market had reached a high of $9 billion on August 13, representing a 40% increase from July, spurred by Ethereum’s previous price surge.
Ethereum’s Impact on the NFT Market
Recently, Ethereum ETH$4 625 experienced a sharp price correction of over 10%, settling around $4,400. This decline has significantly impacted top NFT collections such as Pudgy Penguins and Bored Ape Yacht Club (BAYC), which have suffered substantial value losses over the past week.
Top NFT Projects on the Decline
According to data from DeFi aggregator DefiLlama, prominent NFT projects have witnessed double-digit declines in their floor prices. Blue-chip collections like Pudgy Penguins, Bored Ape Yacht Club (BAYC), and Doodles have seen the most significant drops. Interestingly, this occurs despite a growing interest in Pudgy Penguins’ NFT Treasury.
Pudgy Penguins, a leading NFT collection, saw a 17.3% decline to a floor price of 10.32 ETH. Similarly, Bored Ape Yacht Club (BAYC) fell by 14.7% to 9.59 ETH, and Doodles experienced an 18.9% drop to 0.73 ETH. Other collections, such as Moonbirds and Lil Pudgys, decreased by 10.5% and 14.6%, respectively.
Top NFTs saw a major drop against Ethereum last week. | Source: DeFiLama
Despite the setbacks in some collections, CryptoPunks—the largest NFT collection by market cap—exhibited relative stability, with just a 1.35% weekly decline. Trading activity has remained robust, with Pudgy Penguins leading the market with a volume of roughly 2,112 ETH (about $9.36 million), followed by Moonbirds at 1,979 ETH ($8.77 million). CryptoPunks recorded 1,879 ETH ($8.33 million) in trading volume, while BAYC registered 809 ETH ($3.59 million).
Overall, the NFT market has seen a 5% drop, bringing its total value to $7.7 billion. Previously, on August 13, the NFT market capitalization had reached $9.3 billion, a 40% increase from $6.6 billion in July, driven by increased NFT activity during Ethereum’s rally.
Ethereum Price Set to Test Its 200-EMA
Ethereum recently hit an all-time high of $4,900, but has since experienced a price pullback. Popular crypto analyst Daan Crypto Trades suggests that Ethereum might continue to decline to test its 200-EMA, currently at $4,088.
On Sunday, $ETH swept its all time high. It then proceeded to sell off from that point and fill the inneficiency from the “Powell Candle” that was created last Friday.
The 4H trend has been very strong since the start of July. $ETH has basically been up only and did not test… pic.twitter.com/kRrCpqLsBF
— Daan Crypto Trades (@DaanCrypto) August 26, 2025
According to the analyst, the higher timeframe structure remains bullish unless the $4,000 support level is breached. Alternatively, a break and hold above ~$5K could signal a new phase of price discovery.
Maxi Doge Raises Over $1.5M in Its First Month
Despite the broader crypto market volatility, the meme coin Maxi Doge has gained significant traction, raising over $1.5 million within its first month. This reflects strong investor interest in the project, which positions itself as Dogecoin’s “frustrated but ripped cousin” within the 2025 memecoin trend.
Maxi Doge aims to align with established memecoins like Dogecoin DOGE$0.22, Shiba Inu SHIB$0.000013, and Bonk BONK$0.000021.
The project combines humor with utility, offering staking rewards with a 195% APY, exclusive access to an alpha-trader community, and planned integrations with perpetual trading markets.
Key Details
- Ticker: MAXI
- Network: Ethereum
- Token Price: $0.000254
Funds Raised: $1.55M
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Bhushan Akolkar on X
Source: Coinspeaker
