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(noun) joke-based crypto tokens with bafflingly enduring appeal
（名詞）基於玩笑的加密代幣，具有令人費解的持久吸引力
The anarchic streak to markets is thriving in the world of memecoins — an “asset class” (for lack of a better word) targeting those who find the wild west of crypto just not wild enough.
市場中的無政府主義傾向在模因幣的世界中蓬勃發展——這種「資產類別」（暫且這麼稱呼）專門吸引那些覺得加密貨幣的狂野西部還不夠狂野的人。
The biggest crypto asset is bitcoin — essentially a line of code created by computers firing sums at each other to which the wisdom of crowds now attaches a value of almost $100,000 apiece. True believers have made great fortunes here, despite the currency’s lack of everyday utility or underlying institutions and revenues. Its value has more than doubled in 2024, thanks in no small part to Donald Trump’s crypto curiosity.
最大的加密資產是比特幣——本質上是由電腦相互運算生成的一行代碼，如今大衆智慧爲其賦予了每枚近10萬美元的價值。儘管這種貨幣缺乏日常實用性或基礎機構和收入，真正的信仰者在此賺取了鉅額財富。2024年，其價值翻了一倍多，這在很大程度上要歸功於唐納•川普(Donald Trump)對加密貨幣的好奇心。
Enthusiasts insist bitcoin is the future of money and the foundation for a new financial order. But it is just one crypto asset among thousands. Memecoin backers make no such claims, and explicitly celebrate their silliness rooted in the ephemera of social media crazes. Generally, these things are worth fractions of pennies individually but, in total, the “value” sometimes runs to billions.
愛好者堅稱，比特幣是貨幣的未來，是新金融秩序的基礎。但它只是數千種加密資產中的一種。Memecoin的支持者並不做這樣的主張，他們明確地慶祝其根植於社群媒體熱潮的荒誕。通常，這些東西單個價值僅爲幾分錢的零頭，但總「價值」有時卻達到數十億美元。
The best-known is dogecoin, based on an internet-famous dog and beloved of Elon Musk. It is no coincidence that Musk’s role in the Trump 2.0 administration is co-heading the Department of Government Efficiency, or Doge.
最著名的是狗狗幣，它基於一隻網路知名的狗，並受到伊隆•馬斯克(Elon Musk)的喜愛。馬斯克在川普2.0政府中擔任政府效率部(Department of Government Efficiency)的聯合負責人，這絕非巧合，該部門簡稱爲Doge。
But it gets much, much sillier. Breakthrough memecoin stars of 2024 include Moo Deng, based on a Thai pygmy hippo; PNUT — a nod to a euthanised squirrel beloved of the US rightwing, and Hawk Tuah, launched by a young woman propelled to internet stardom by an off-the-cuff lewd comment.
但事情變得更加荒謬。2024年的突破性迷因幣明星包括以泰國侏儒河馬爲原型的Moo Deng；PNUT——向美國右翼所鍾愛的被安樂死的松鼠致敬；以及Hawk Tuah，由一位因隨口猥褻評論而在網上走紅的年輕女性推出。
Buy early, and if others follow, you can scoop up huge profits. Buy late and you can quickly find yourself holding something worthless, as many buyers of the Hawk Tuah coin found out. It’s two fingers up to the financial establishment, and not for the cautious or faint of heart.
儘早購買，如果其他人跟進，你可以賺取鉅額利潤。晚買，你可能很快發現自己持有一文不值的東西，正如許多Hawk Tuah幣的買家所發現的那樣。這是對金融機構的挑釁，不適合謹慎或膽小的人。