The Q2 2024 crypto market downturn and the rise of memecoins may have contributed to a 44% drop in NFT sales, according to Apollo Crypto's investment chief. Data from CryptoSlam reveals NFT sales fell from $4.14 billion in Q1 to $2.32 billion in Q2. Memecoins, including celebrity and political-themed ones, continue to see high trading volumes, potentially diverting attention from NFTs. However, despite the slowdown, top NFT collectibles like CryptoPunks and Bored Ape Yacht Clubs maintain large market caps. The last quarter of 2023 saw a minor NFT comeback, indicating potential for a resurgence.