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

Our several media accounts introduced us to the word "Memes" and we understand them to be funny pictures /stickers but our professor today has coined it to deliver a great lesson of Meme tokens in this blockchain.

It's quite an amazement and I thank him for this great opportunity to learn about more deep things each time.
I present my work based on the questions asked below this and hope it gets you the expected answers through the knowledge imparted from the lesson.

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

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Sequel to my provision of reasons why the meme tokens would be a very huge impact in the crypto currency market, I deem it necessary to bring a brief understanding of what actually the Meme Tokens are.

Memes are jokes, or animations portraying a sense of laughter and aimed towards pointing out nothing actually serious and this is the case where it looks confusing as a token could be a joke. Yes ! It is.

The therapeutic nature of jokes are meant to relieve stress and so it's no new fact that jokes tend to relieve and ease strenuous environments and so could be important.
Eg, in a company where workers are meant to throw lumps of clay into a molding pan, they can playfully accept each lump to be the heads of each other and at that point, work gets faster and more interesting since everyone wants to throw more of the other person's head into the clay.

image from WhatsApp stickers

This picture of a meme above could be used in a congratulatory context for someone and is more funny on the other hand.
So from here, we can talk of Meme tokens as blockchain technology tokens that are created with the aim of jokes and to entertain on the blockchain.

One of the main reasons why Meme tokens would be having an impact on the crypto currency market in 2021 includes that :

The media, and even actions of promoters :The popularity of meme coins have escalated due to their thriving on several media accounts and users who do with this accounts are always informed. The involvement of high profile individuals too tend to encourage investments in these coins eg we can take a case of Doge, who has been getting the backing of Elon Musk and Snoop Dogg. Everyone seeing backups like this wants to invest and from there the token gets thriving
These coins too are seen as jokes and when they keep thriving, traders and investors seem to take them serious and due to their less value nature at the start they are invested in easily and are promoted.

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

Some questions are logical in nature and double edged and I must confess this. to be one of these questions as such.
Meme Tokens mostly have no actual incentive and so this nature could cause it to be unstable and relatively irregular in price movements making it a hazard at times for investors.
This same volatility in value could be responsible for deep profits and so contradicts the fact that they are hazardous too.

Most of them too could be infinite in supply and could be unsure to hold when it comes to long term basis and so we could really be skeptical about this tokens. I ardently support the creation of this tokens but hope for a creation of purpose to each token for example we can see the Hoge finance where the meme tokens have a percentage distribution going to help for animals and if meme tokens can be concentrated, they would be worth it.

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.

If I was to choose between trading and investing of meme tokens, trading would be a more rational option since the value and purpose of this tokens are indefinite and uncertain in value and volume. Trading instead gives a platform for us to benefit from the market at any position and being on the safe side of not loosing funds in case of failing blockchains.

On other hand if I wanted to invest in a meme token, I think I'll be going for the Mona Coin.

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The Mona coin, as we can see ranks fourth on the meme tokens list and aside doge and Shiba inu which we were asked not to use, my option remains Mona,we're about to know why.

The advent of Monacoin in Japan in 2013,by an unknown developer rumored to be Mr Watanabe has left it as a blockchain based crypto currency since then and its speed in operation is second to none as it tends to produce more blocks even faster than even Bitcoin. It's basis was originally on a popular internet meme called Mona that had a figure resembling a cat and was made more famous on a 2 channel system system that worked as a information point for internet users.
My love for this token is the fact that it's generally accepted by the Japenese Financial Service Agency and is accepted by stores already both virtual and physical for payment of services or goods.

This gives holders of Mona coin the liberty to use the tokens easily and a legal backing also it encourages an NFT platform having a website called Monappy where gamers are tipped for playing video games.
Finally Mona coin is listed on several exchanges eg Coinbase, like in the screenshot below and trades at $1.48

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

My analysis proving that Mona coin is a good token :
Monacoin had it's introduction to the blockchain world by 2013 and since then it's proven to be worth the entire hype about it and I'll be explaining the reasons why

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Mode of Operation :
The Monacoin's mode of operation is simple as the token is used in Japan for the exchange of services physically and virtually. The anonymous nature of its owner, leaves administrative details and plans about the project uncertain for now.
The user security and simplicity of the coin too is a plus as users could simply purchase without having to follow ambiguous steps

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The NFT part of Mona coin
The Mona coin has a Non fungible token platform called Monappy where users can play video games and run entertainment activities where they are still tipped with tokens while they engage in the activities.

Misson of the Monacoin :
The Monacoin simply aims to render easy payment via its tokens and build NFT platforms for users.

In the absence of figureheads, a roadmap, or the expectation for added efficiency keeping even without and sharing value, it appears that MonaCoin does not have required value-adding dinstinctions due to several constraints via its location and administrative inputs but the token is great and wonderful.

CONCLUSION

Learning about memecoins is something really wonderful as for me I learnt something new, added to the fact that reading through the lecture was hilarious. I gained valuable knowledge and also learnt about the mona coin. I think the creation of the coins are cool and would love an exploration soon.

I thank you all for reading through my post

Best regards
@ wahyunahrul