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What Moo Deng The Pigmi Hippo, Sensation Social Media Hawk Tuah and the President of the United States has in common? All are inspired by very valuable, highly volatile memecoins. Memecoin began as a kind of cryptocurrian joke, but it soon became very real.

At today’s episode Sunday story, We will turn to our friends in eg Planet To help us understand the phenomenon of the memo. What are they and how did they go from a one-time joke on speculative freesy dozen billion dollars? Who are the winners and losers in this brave new market?

The Planet The episode reported Alexa Horovitz-Ghazi and Nic Neves. It was made by Villa Rubin and edited Jess Jiang with the help of Keith Romer. Additional production for Weekly story Justine Ian. Verification of facts by Sierra Juarez and engineering by NEAL RAUCH.

We’d like to hear from you. Send us an email at Thesundaistori@npr.org.