Copium is internet slang for a metaphorical "drug" used to describe self-delusion, denial, or irrational rationalization in the face of failure or defeat. It is a blend of the words "cope" and "opium".
Copium is a universal meme that combines the words “Cope” (dealing with difficulty) and "Opium" (a narcotic drug) used to describe a fictional drug to help one deal with loss.
It is frequently used in a meme featuring Pepe The Frog hooked to an oxygen tank labeled “Copium.”
First seen on 4chan around 2016–2018, he’s used in crypto and bear markets to joke about staying optimistic despite losses.