The cryptocurrency market faced a significant downturn on November 23, 2025, with memecoins and AI tokens experiencing substantial losses. Leading memecoins such as DOGE, SHIB, PEPE, and TRUMP recorded weekly declines ranging from 12% to 19%. Meanwhile, AI tokens including TAO, ICP, NEAR, and FET saw even steeper drops of 19% to 29%. The market cap for the memecoin sector decreased by 29.09% over the past 30 days, while AI tokens fell by 25.68% during the same period. This downturn is attributed to high market volatility, a pullback in Bitcoin prices, and forced liquidations, which have contributed to the widespread panic among investors.