Back to Glossary
Degen
Culture
A trader who takes high-variance bets on memecoins and early launches, often with minimal research.
Definition
Short for 'degenerate.' A degen plays small edges on a lot of bets — aping launches, sniping new listings, swinging leverage on perps. The philosophy: most go to zero, one in twenty hits 100x, and that's the portfolio.
Done well, it's math: tiny position sizes, fast exits, zero emotional attachment. Done badly, it's a gambling habit with extra steps. The line is position sizing and whether you can keep playing after a full loss.
Examples
- “
Full degen mode — 20 microbags, one might run.
- “
Leveraged long on a three-day-old memecoin is peak degen.
- “
The difference between a degen and a gambler is the bet size.