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Degen is a slang term meaning "degenerate." In the crypto community, the term is used to describe people who make risky, speculative and uneducated trades. Prior to its use in the crypto community, the term is often used to describe gamblers who make risky bets. The term became increasingly popularized online throughout the 2020s in part thanks to the Canadian TV series Letterkenny in which the characters often use the slang to refer to degenerate characters. In 2024 it became increasingly prevalent in relation to meme coins as the cryptocurrencies became more widely traded and discussed online.