Bag Holder
An investor stuck holding a token that has collapsed in value, with little hope of recovery.
The bag is the position; the bag holder is the one left carrying it after the price falls and the crowd moves on. The phrase predates crypto — it comes from old stock-market slang.
Bag holders are often the people who bought near the top during a hype cycle, then refused to sell on the way down. Some hold out of conviction, some out of denial. Many dead meme coins are held almost entirely by bag holders.
Related terms
A dismissive term for selling too early, dumping a position at the first sign of trouble.
Diamond HandsSlang for holding a position through heavy volatility and steep drawdowns without selling.
WhaleA holder large enough that buying or selling their position can move a coin's price on its own.
Pump and DumpA scheme that inflates a coin's price with coordinated hype, then sells into the buying for profit.