Degen
Slang for a crypto trader who takes high-risk speculative bets, often in memecoins or unaudited protocols.
Explained Simply
Degen (short for 'degenerate') is crypto slang for someone who engages in extremely risky trading behavior — aping into unaudited protocols, trading memecoins with high leverage, or investing in tokens with no fundamental value. While the term is often used humorously and self-referentially, degen behavior leads to significant losses for most participants. The crypto community sometimes celebrates degen culture, but it's important to understand that survivorship bias amplifies the rare success stories while hiding the many losses.
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