While consumer finances are weakening, it does not necessarily mean a complete collapse in meme coins, as “degens” might persist. Degens, or people engaging in high-risk speculative trading in the crypto market, are not fundamentally different from early internet adopters, AllianceDAO’s Qiao Wang said in a blog post, characterizing them as: “Financial risk-takers who are brave enough to try unproven products.”
Source: CoinDesk
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