Degen Dictionary: 30 Terms You Need to Read the Feed

The language of memecoin trading is a mix of slang, irony, and self-deception. A glossary of honest definitions.

Basics

Degen - a trader of high-risk bets (self-irony required). Ape (ape in) - entering without checks, on instinct. FOMO - buying out of fear of missing out. Jeet - weak hands who sell on the first pump. Diamond hands - a holder to the end (often to zero). Exit liquidity - the one who bought so someone else could sell. Usually the reader of this glossary.

On-chain

Deployer/dev - the creator of the token. Snipe - buying in the first blocks. Bundle - the dev's self-buy through a batch of wallets at launch. CTO - community takeover: the community picks up an abandoned token. Rug - theft of liquidity (five types - breakdown). Honeypot - a token with no sell function. Microcap - a token with a tiny market cap and matching odds.

Trading

X's - multiple growth (2x, 10x). Take profit - sell part of the position for profit. Average down - buy more at a loss (usually a mistake). God candle - a vertical pump. Knife - a vertical dump; "catching knives" - buying during a crash. Dead cat bounce - a brief rise after a crash. Hopium - hope as a strategy. Copium - consolation after a loss. Obituary - the "I held to the end" post.

Knowing the glossary does not replace on-chain checks - but it will at least help you understand what exactly is being shilled to you. Full degen literacy - in the guides section.