"Meme Tokens - Crypto Academy / S4W7 - Homework Post for @wahyunahrul" by @wiltord
edited image from here
Hello every one i will like to thank professor @wahyunahurl for this great assignment post .After reading through his post, i will like to share my understandings by answering his questions which he demands which flows as follows:
1). Why Meme Tokens could be one type of cryptocurrency that will have a big impact on the cryptocurrency market in 2021?
Meme coins are essentially cryptocurrencies that are inspired by jokes on the Internet and social media. DOGE was created as a parody, however today it is a successful crypto.
However, many investors believe that they should not be treated that way. Many of these meme tokens have done fairly well in the cryptocurrency arena, and some people have made loads of money from them already.
In 2021, meme coins have soar, both in esteem and in assortment. After the achievement of Dogecoin, and with the expanding acknowledgment of crypto as a rule, the market is blasting with image coins. Their notoriety is to a great extent connected to their associations with online media powerhouses and big names. Since these individuals are being paid to publicize the coins, the public interest in them is rising quickly. As the case of ELON MUSK the entrepreneur whom is an Ally to DOGECOIN,
What's the distinction among digital money and meme coins?
Meme coins are a kind of digital money, yet there's one significant contrast between digital forms of money like Dogecoin and Shiba Inu and monetary standards like Bitcoin and Ethereum, and it boils down to utility. Significant cryptographic forms of money like Bitcoin and Ethereum were created to take care of genuine issues. The objective is to ultimately turn out to be generally acknowledged by traders, making another type of decentralized money and reforming an assortment of businesses. When their costs flood, numerous financial backers sell not long after to create a fast gain.
When financial backers continue on to another stock or digital money, Meme coins will probably see their costs plunge.
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2). Do you think Meme Tokens is a type of cryptocurrency that shouldn't need to be created?
Meme coins are actually a good source of income to me because investors at the start offten invest litle or no money but the returns are offten high rates of income ,Meme coins would be triggered but social media pressure from outstanding users as the case of Elon Musk on Dogecoin ,it also triggered by number of users but general investing in meme coins is like gambling which would determine how users predict the market , meme tokens though provide income to it users an followers but meme tokens are not an example of good money following the characteristics:
Numerous meme coins have no genuine reason.
meme coins could be for no good reason an that pulls down the value of meme coins ,looking to the fact that real money has a reason to solve real life problems of which is a downside for meme coins ,imagine a name like dog for a coin it sounds funny,This will considerably affect their drawn out esteem.These coins are dispatched rapidly,
which implies there is a propensity that you might lose cash in the long haul.for example taking the fact that Elon musk uses dogecoin with all his popularity in the world this has made so man many people to join dogecoin but what happens when he dies ,who will continue advertising the dogecoin.?
3). If you had to choose to invest or trade on Meme Tokens, which would you choose? Explain your choice in detail and provide strong evidence for your choice.
I would choose to trade on the meme coins rather than invest this is because trading will be for the short term rather than investing which will be in the long term more to i look in more to the reasons below which are:
firstly i would look at the social media adverts about meme coins .
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which implies there is a propensity that you might lose cash in the long haul.for example taking the fact that Elon musk uses dogecoin with all his popularity in the world this has made so man many people to join dogecoin but what happens when he dies ,who will continue advertising the dogecoin.?
3). If you had to choose to invest or trade on Meme Tokens, which would you choose? Explain your choice in detail and provide strong evidence for your choice.
I would choose to trade on the meme coins rather than invest this is because trading will be for the short term rather than investing which will be in the long term more to i look in more to the reasons below which are: firstly i would look at the social media adverts about meme coins . 
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for example: when Elon musk tweeted about dogecoin a wise trader would had speculated and started trading by buying the coins taking to mind that people would start joining the coin .the trader could buy the coin and stay vigilant to Elon Musk tweets about dogecoin.today things are done very fast through the social media
Also i will also own my own as a trader make advertisement about the coin as a means to promote it .this promotion could be done on social media ,inviting other people to join the community.
More to it is advisable for any trader to invest in top and reliable cryptocurrencies looking at the screenshot below the most valuable meme coin as ranked by the marketcap.com at the time of doing this post is dogecion which is at the tenth position perhaps one would thing off what about those coins in the first position of the rank ,to invest in
4). Choose a Meme Token (except Dogecoin and Shiba Inu) and do an analysis of the Meme Token with the following conditions:
. If in question number 3 you choose to invest, then do a detailed fundamental analysis of the Meme Token you choose to prove that the Meme Token of your choice is a good investment tool. (Screenshot Required)
. If in question number 3 you choose to trade, then do trade using a small capital or using a demo account. Show how you trade based on the information you get and explain the supporting indicators you will use. (Screenshot Required)
I choose monacoin In the event that you might want to realize where to purchase MonaCoin, the top trades for exchanging MonaCoin are presently bitFlyer, Finexbox, ProBit Global, Bittrex, and Bitbank. as it is available in these exchange platforms it provides backup for a new investor to invest knowing that he or she wont get stock with coin as many platforms do trade using it
MonaCoin (MONA) is an open source shared installment organization. It was pushed into the spotlight when it was highlighted on WBS TV Network Tokyo, which detailed a man buying a plot of land in Nagano with MonaCoin. The possibility of MonaCoin was imagined from a Japan-based announcement board called 2-Channel (2?????) by a client who passes by the handle of 'Mr Watanabe'
refrence
What to think about when purchasing MonaCoin
As PC mining keeps on getting refreshed because of fixing guidelines, what MonaCoin adjusts their organization might mean for the cost. Despite the fact that MonaCoin is accessible universally, its utilization case is for the most part restricted to Japanese items. Those that aren't living in Japan , or aren't devouring Japanese items, have no genuine need for MONA. MONA's place of distinction is that it is intensely focussed on the Japan locale, however past that, it doesn't offer anything especially novel.
conclusion
Meme coins could be real money starting as jokes ,but turns to real money that brings life changing stories to humanity. Making life so easy i would encourage crypto users to join the meme community for the future, may be bright for meme coins considerably look at the down side of meme coins before investing or trading as mentioned above.
thanks for reading.