such money. wow. omg. many planet. Atsuko Sato hide caption

such money. wow. omg. many planet.

Atsuko Sato

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"Such money. wow. omg. many planet."

What do Moo Deng the pygmy hippo, social media sensation Hawk Tuah, and the President of the United States all have in common? They've all inspired highly valuable, highly volatile memecoins.

What do Moo Deng the pygmy hippo, social media sensation Hawk Tuah, and the President of the United States all have in common? They've all inspired highly valuable, highly volatile memecoins.

The humble memecoin began as a sort of satirical send up of speculation in the crypto world. But it was a joke that soon became very real. In the decade since the launch of Dogecoin in 2013, a series of cultural shifts and technological leaps enabled an explosion in the number of new memecoins. And this memecoin explosion has not only minted millionaires but also led to hordes of unlucky investors and untold scams.

The humble memecoin began as a sort of satirical send up of speculation in the crypto world. But it was a joke that soon became very real. In the decade since the launch of Dogecoin in 2013, a series of cultural shifts and technological leaps enabled an explosion in the number of new memecoins. And this memecoin explosion has not only minted millionaires but also led to hordes of unlucky investors and untold scams.

On today's show, what's in a memecoin? How they went from a one-off joke to a speculative frenzy worth tens of billions of dollars? And who are the winners and losers in this brazen new market? wow such tease many listens

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This episode was hosted by Alexi Horowitz-Ghazi and Nic Neves. It was produced by Willa Rubin. It was edited by Jess Jiang with help from Keith Romer. Fact-checked by Sierra Juarez. Engineered by Robert Rodriguez. Alex Goldmark is Planet Money's executive producer.

This episode was hosted by Alexi Horowitz-Ghazi and Nic Neves. It was produced by Willa Rubin. It was edited by Jess Jiang with help from Keith Romer. Fact-checked by Sierra Juarez. Engineered by Robert Rodriguez. Alex Goldmark is Planet Money's executive producer.

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Music: Audio Network - "Nights Interlude," "Sapphire," and "Curious George"