"Meme Tokens - Crypto Academy / S4W7 - Homework Post for @wahyunahrul"

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Am gladdened once again for yet another opportunity of this wonderful edition by the cryptoacademy. From the lecture offered by Professor @wahyunahrul, reading through this lecture series have given me a better insight on Meme tokens. To this, I will be writing based on the task given by the Professor.

1). Why Meme Tokens could be one type of cryptocurrency that will have a big impact on the cryptocurrency market in 2021?

Meme tokens which is a cryptocurrency introduced into the crypto world in 2013. It has been a cryptocurrency in the market since then without a much value of it. Just of recent, due to the support of one of the richest man in the world by name Elun Musk about Meme tokens, there has been a rapid rise and circulation of the token in the crypto market.

As one of the world richest person, with his high popularity in the world, he is been followed by many, so if he supports the Meme token, this has given a green card to the rapid growth of this token because his fans will definitely want to invest in the token believing of a real sense that is a good asset to invest in.

The support of these great celebrities will cause an influence to the growth and wide circulation of the token. We know very well that a man of such caliber will never invest into what is a scam, this will definitely be what his followers will have at mind and will develop an interest, thus will invest and hold the Meme token.

The wide coverage and information created by this big influencers will cause the public to invest and hold more of this token in circulation thereby leading to an increase of the Meme token price and a high market capitalization and usage which will make it one type of cryptocurrency that will have a big impact on the cryptocurrency market in 2021.

2). Do you think Meme Tokens is a type of cryptocurrency that shouldn't need to be created?

Just as the name implies, Meme token is all about jokes or memes. It is just a type of token created for fun. To me, the creation of Meme token is not a mistake, it’s a creation in my opinion that has a value for some people apart from the price increase and investment made on it.

There are times in life of which we are faced with problems and we become weighed down, fun moment is an alternative to overcoming this state, thus the creation of Meme token. It is aimed at building a fun-loving community.

We know very well that a wide range of cryptocurrencies have been created with a lot of impacting value, the likes of Bitcoin, Ethereum, etc which have created a lot of impact in the world of cryptocurrencies and the world at large.

One might think of a mere word like “joke” sometimes, it sounds ugly but there are certain state in a man’s life of which jokes can help manage. Try to consider a scenario where you invest when you are not in a happy mode, would you be able to concentrate in making a successful trade or investment, it’s always like hell.

Meme token can be seen as a token that will not last in a long term but will always make a last longing effect on users both in the society and the cryptocurrency world. It is a token that will help in collecting emotions, actions into an easy translating format, for instance, what we have in the newspaper talks about politicians and others.
Meme token is a good cryptocurrency that need to be created with it purpose of growth in value as well as the benefits it creates in the society and individual.

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 chose to invest on Meme tokens. Why I choose to invest in Meme tokens is because it is a token that has a potential value via the supporting rates of influencers.

My choice is backed with the following evidence:
Community: Meme tokens are built with the help of token fans community. These are the people that support and promote the usage of their favourite meme token. They can go a long way to supporting members of the community via fundraising. Since, the community token fans are ready to cohabit together to make the token has a value, with this I think, it will be a good token to invest on because I will not run at loss of it.

Uses Cases: A lot of Meme tokens are not just launched into the crypto market for jokes only, some have a specific purpose for why they were created and this is one of the reason that will make many to invest on it as well as hold the Meme token for it specific purpose of creation to be achieved and thus gives it a value in the market.

Social media Promotion: We know very well that most of these memes are used in the social media platform. So, meme as a token if supported by an influencer or celebrity in a positive way will always have an adverse effect on the price value of the token, thus, a more evidence to be invested on since it is widely known by the social media platforms that fans these influencers.

4). Choose a Meme Token (except Dogecoin and Shiba Inu) and do an analysis of the Meme Token with the following conditions:

For this task, the Meme token I will choose is the SAFEMOON.

SAFEMOON is a meme token created by a team making up six with John Karony as the CEO, Thomas Smith as the CTO and Trevor Church as the Community manager. This token was created with the aim of ensuring safer gains and the prevention of certainties in price bubbles.

It happens to be a new meme token which is community driven with a DeFi system approach that just stormed the cryptocurrency market earlier this year. It has in its few months of hitting the market made a tremendous circulation with over 2.5 million people investing on it as shown on the screen shot below via coinmarketcap:

SAFEMOON is a Meme token with an increasing level in its price, ranking, market capitalization, etc. as shown below on the screen shot via coinmarketcap:

With the following, fundamental analysis of the meme token, it will be good investment tool.

5). Conclusion.

With regards to the upsurge in value of the Meme tokens as compared to its past thriving rate, it can be seen that Meme token is a good token to be invested in but as a n investor, the type of Meme token you wish to invest in should and must have a good use case which will make the token last in the future times (sustainability). Its sustainability will be a factor to its growth and as such investment can be made so as not to run at loss in an investment.