The dog was cute, he thought, but more important, its name evoked something every crypto trader covets — billionaire status. “I started hearing people say ‘Billy’ to a billy,” Mr. Bailey said. “Kind of has that ring to it.”Mr. Bailey bought about $900 of $BILLY on Pump.fun, a leading vendor for memecoins, volatile cryptocurrencies based on the fluctuating popularity of internet memes. Many of the tokens have names like Bread (yes, the meme is a loaf of bread) or Baby Trump (the former president in a diaper). One of the most popular memecoins is based on Pepe the Frog, an alt-right mascot that is sometimes used as a hate symbol.

---

Persons: Josh Bailey, Billy, covets, “, Billy ’, billy, ” Mr, Bailey, Mr, BILLY, Pump.fun, Baby Trump, Pepe Locations: Austin , Texas