The Meme basket was the only one of our eight theme baskets to finish higher in the 24 hours to Nov 11, at +0.64%. The other seven closed lower. Quantum took the heaviest hit at -4.22%, with DeFi next at -3.19%.

Over 30 days, none of the eight kept pace with $BTC, which returned -11.9% over that stretch. Quantum came closest at -18%, 6.1 percentage points behind, and Meme followed at -20.1%.

Layer 2 trails furthest at -36% over 30 days, 24.1 points behind Bitcoin, with AI at -32.9%.