Search Engine Planet Money: The Memecoin Casino
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Mar 28, 2025 
Join Alexi Horowitz-Ghazi, a Planet Money reporter, and Nick Navis, a freelance journalist, as they dive into the chaotic world of memecoins. They discuss the absurd rise of cryptocurrencies like Dogecoin, sparked by a 13-year-old's surprising success. The conversation uncovers the cultural implications of memecoins, their transformation from jokes to financial players, and the unpredictable nature of this digital market influenced by figures like Elon Musk. It's a wild exploration of humor, risk, and the speculative frenzy surrounding these digital assets.
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Teen Memecoin Millionaire
- A 13-year-old created and promoted memecoins on a livestream.
- He made over $50,000 by "rug pulling" unsuspecting investors three times in one night.
Dogecoin's Ironic Origins
- Dogecoin was created by Jackson Palmer as satire of fraudulent crypto pump-and-dumps.
- Ironically, it became used in the very schemes it aimed to criticize.
Ethereum's Impact
- Ethereum allowed multiple cryptocurrencies on a single blockchain.
- This removed technical barriers, leading to a surge of new coins and ICOs.
