- DEGEN was developed as a reward mechanism to encourage community engagement on a social platform called Farcaster.
- DEGEN token is currently priced at $0.01127 with a 24-hour trade volume of $31.43M and a market cap of $159.86M.
- The token was launched with an initial supply of 37 billion tokens, of which 70% were allocated to the community, 15% to the liquidity pool, and the remaining 15% to support creators.
- DEGEN is set to launch its base chain, DEGEN L3 Chain, which is undergoing beta testing.
Degen is a leading meme-coin project based on the Base chain. The token has been creating quite a wave in the cryptocurrency world, and its role on the base chain is certainly noteworthy. The coin originated to serve the Farcaster community, and soon it became a community-driven innovation. The following article provides a comprehensive guide to beginners who want to learn in detail about Degen, how it works, and price prediction for 2025.
What is DEGEN?
DEGEN initially emerged as a meme coin, but soon it rapidly grew into a project that embodied the community-driven approach. It is a prominent digital asset in the blockchain network, developed as a reward mechanism to facilitate community engagement on the decentralized social platform Farcaster. Farcaster is a social media platform that operates in a decentralized manner on the Base network.DEGEN was developed as a community meme coin by Jacek Trociński, and he has no ties with Farcaster.
When the coin started gaining popularity rapidly, he began developing a dedicated DEGEN blockchain. The memecoin is used to reward Farcaster users for their quality content which is achieved through a point system that recognizes unique posts and comments. DEGEN is often seen as a valuable asset that connects online contributions with tangible real-world benefits. Due to an increase in demand, DEGEN is now available beyond the Farcaster. Moreover, it has also partnered with Decentralized Finance (DeFi) to improve visibility.
How Does DEGEN Work?
DEGEN works in the same way as other cryptocurrencies, and it is easily accessible on the Ethereum blockchain, where transactions are recorded on a public ledger and verified by a Proof-of-Stake mechanism. DEGEN also supports smart contracts, and it has its blockchain in development, expecting to reduce the transaction cost and processing time.
The team is distributing the token via airdrop, and users holding at least 10,000 tokens are granted a “daily tip allowance” to distribute to Farcaster creators. There has been wider adoption for DEGEN on crypto exchanges which has given it more visibility. Its price hit a peak of $0.06454 before decreasing. Yet the demand for DEGEN remains high.
DEGEN launched with an initial supply of 37 billion tokens, out of which 70% were for the community, 15% in liquidity, and the remaining 15% to support the creators. Moreover, DEGEN has been embraced as a de facto token by Farcaster.
Tokenomics and Price Prediction for 2025
Let’s explore tokenomics and also predict the price of DEGEN for 2025 based on current prices.
- Market price: $0.01127
- 24-hour trade volume: $31.43 M
- Market cap: $159.86M
- Total supply: 36.96B DEGEN
- Circulating supply: 14.17B DEGEN
In 2025, DEGEN is predicted to trade between $0.015249 and $0.053866, with the most bullish month being January. Take a look at the detailed price prediction for 2025 below.
| Month | Minimum Price | Average Price | Maximum Price | Potential ROI |
| January | $0.015249 | $0.031714 | $0.053866 | 376.70% |
| February | $0.028264 | $0.041892 | $0.052618 | 365.66% |
| March | $0.029609 | $0.036341 | $0.04584 | 305.68% |
| April | $0.038676 | $0.040544 | $0.042701 | 277.89% |
| May | $0.029899 | $0.034758 | $0.040175 | 255.54% |
| June | $0.024964 | $0.028793 | $0.032129 | 184.34% |
| July | $0.022073 | $0.027634 | $0.030558 | 170.43% |
| August | $0.019364 | $0.022029 | $0.024526 | 117.05% |
| September | $0.020586 | $0.021629 | $0.023754 | 110.22% |
| October | $ 0.021037 | $ 0.024465 | $ 0.030662 | 170.81% |
| November | $ 0.027285 | $ 0.029947 | $ 0.031529 | 178.46% |
| December | $ 0.027505 | $ 0.029476 | $ 0.031089 | 174.57% |
Where to Buy?
- Bybit
- Coinbase exchange
- OKX
- Bitget
- KuCoin
- HTX
- MEXC
- Gate.io
- BingX
- WhiteBIT
What is DEGEN L3 Chain?
At the time of launch, DEGEN was classified as a meme coin, but that perception of being a meme coin is changing. The DEGEN L3 chain is in beta testing, and this will transform the token from being tied to a specific social platform to the element of a new decentralized ecosystem. The DEGEN L3 chain is a Layer 3 blockchain built on Arbitrum Orbit that, combined with the Base ecosystem Ethereum Layer-2 scaling solution- will allow developers to build Decentralized Applications (dApps) around DEGEN. Most importantly, the DEGEN L3 Chain will have lower transaction fees, and this increases its demand, thereby increasing its price.
Conclusion
DEGEN is a crypto with meme coin origins but with plans to become something beyond that. It helps the content creator on Farcaster to monetize their work. DEGEN doesn’t have a long history to back it up, and a lot of its usefulness is linked to a blockchain that’s still being tested.It also lacks the presence of a white paper. Investing in DEGEN should be done only after thorough research on the market condition and after learning the risk tolerance of one’s portfolio. There is a potential for price growth, but there are also chances for significant losses due to unexpected drawbacks.