What does degen mean?

In the realm of cryptocurrency, the term "degen" has emerged as a colloquialism for "degenerate gambler." This phrase encapsulates a specific breed of traders within the industry.

These degen traders are known for their bold and often risky investment strategies. They are drawn to opportunities that offer the potential for substantial, albeit uncertain, returns.

Their appetite for high-risk, speculative trading sets them apart from more conservative investors. Degens are unafraid to take chances and invest in projects that may have questionable fundamentals.

The allure of quick profits and the excitement of gambling-like trading dynamics often motivate these traders. They thrive on the thrill of the unknown and the potential for significant gains.

Despite the risks involved, degens see themselves as pioneers and visionaries. They believe that their instincts and knowledge of the market can help them navigate the treacherous waters of speculative trading.