Hi steemian, hope we are all doing great. Am happy to be privilege to participate on this week7 beginner's course. having gone through the course lectures post i must recommend you prof.@wahyunahrul for a well explanatory post. You really taught to my understanding As usual, i will be expressing my understanding on this course through the course home work question below.

Homework Tasks

1). Why Meme Tokens could be 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?

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.

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)

5). Conclusion.

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

As we all know, meme token are cryptocurrencies that are inspired by jokes on Internet and social media.
Many of these meme token have done partially well recently in the cryptocurrency world and some investors has already start making alot of profit through them.
I guess this meme token could be one type of cryptocurrency which will have impact in the crypto market owning to the largely linked connection with the social media influencer and celebrities endorsing, backing and advertising the meme coin.

For example, on april/ 15/2021 a social media influencer which is the richest man in world made a tweet on Twitter about one of the meme coin called dogecoin, this particular tweet cause a lot of impact on the coin making it rise from is initial price of $0.1224 to an all time price of $0.7630 with an increase percent of 523.61% in just a period of 23days.

Imagine the positive impact a social media influencer created on the meme token with just a tweet.

Since these meme token really use these influencer or celebrities backing it will attract the general public interest and trust to the coin which there will purchase it with the aim of making profit when the price surge, by this public action this will give more liquidity to it market and causing rapid increase in the price which will create impact on the cryptocurrency market.

With the social media influencer and celebrities backing and advertising,i think the meme token could be the cryptocurrency that will make big impact on the crypto market in 2021.

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

Even though meme token were created has a joke and for no important purpose, i don't think it shouldn't have been created. Looking at the significant of this meme token now it more important in the crypto space has it as now go beyond being a joke to being a very good investment cryptocurrency. It is now used by investors for investment purpose both long term and short term and are also use in storing value and making purchase in the crypto market place.

Now for the fact that this meme coin has start making massive wave in the cryptospace investors have start making alot of money from through investing in them, for this fact investors now believe this meme coin should be taken serious not as a joke.
So I think it was a nice idea creating them.

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 prefer to invest on the meme token rather than trade.
To invest on a meme token, I will use a strategy of investing on a meme token, which has a strong fundamental and which will stand a test of time and also making sure I invest on it at the right time were I can make profit.

Interms of investing on shiba inu or do i say using shiba inu as a case study.

Shibu inu token was founded on august 2021 by a person name Ryoshi who is believed to be base in china.
This coin is currently ranked the 20th biggest cryptocurrency in the world which it join the like of dogecoin to be listed on major crypto exchange platform like the coinbase.
Through it success as a meme token in the crypto space it was given a name dogecoin killer.
I believe shibu inu can be a good investment option looking at how quick it started trading compare to how it started low. Through it success as a meme token in the crypto space it was given a name dogecoin killer.

According to coinmarket.com shiba inu price today was $0.000028USD with a 24hours trading volume of $1,236,949,262USD.
It is currently at a rising size of 0.63% in the last 24hours with a market cap of $10,924,481,936USD and currently supply of $394,796,000,000,000 with this current data you will understand how fundamental shiba inu token is making it a good investment token.

Why I really chose shiba inu as an investing coin is that the are inspired and endorsed by social media influencer and celebrities, like the latest tweet from a world billionaire Elon mask. where he tweeted an image of his shiba inu puppy fiok in tesla, this tweet alone aftected the value of the coin giving it a leap. It is not only inspired by Elon mask but also inspired by a lot of artist all over the world giving care to the "artistic shiba movement" by this the bring the shiba inu community into the NFT market.

Lastly, shiba inu has a very well secure network which is an ERC-20 token based on etherum. With this it ensures high security and it highly trustable.

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

Like i said earlier, generally it is risky to invest in a meme token so before investing you must do a proper analysis by checking the meme token you are about investing if it has a strong fundamental and if it will be able to stand a test of time cause of the high volatile in cryptocurrency has a whole.

I will be doing a brief analysis on one of the strong fundamental meme token which is the samoyedcoin for me I think this coin has a good reputation and is likely to make a good investment.

samoyedcoin

Source

Samoyedcoin is a solana's memecoin which was founded by Anatoly yakovenko. The coin was inspired by dogecoin,sam bankman fried and anatoly yakovenko with the aim to help grow the solana's ecosystem by appealing beyond it core composed of highly technological coin.
Though it was created as a joke, it idea presented after the creation of the coin lead to a massive expansion,this complete structure covers all the aspect for future growth which show how well the coin will do in the future.

And already the samoyedcoin community is strong and growing higher and larger with a nice blockchain with highscalability, low transaction fees and high speed it a very nice cryptocurrency to invest on and also trade.

Let Look at it performance in the cryptocurrency market

Samoyedcoin is currently rank 486 best cryptocurrency in coinmaketcap.
As at the day i did this analysis samoyedcoin price was trading at $0.028240USD with 24hrs trading volume of $7,810,795USD.
As we can see above samoyedcoin is currently at a rising side of 29.12% in the last 24hrs with a live market cap of $77,064,262USD currently circulating supply of 2,728,946,67.
All these data show how strong and better samoyedcoin is trading in the cryptocurrency market.

Looking at the samoyedcoin graph chart, the token is currently trending upward showing how good the market is and also we can see the statistical increase in the market capitalization with increased in price, all this show how fundamental the samoyedcoin his,making it a good memecoin for investing and trading.

Conclusion

Though memetoken was created has a joke or for no importance reason, I think it now a welcome development seeing how it as flooded the cryptomarket with some having high market capitalization.
I see memetoken as a future great cryptocurrency, owing to the fact that this token in recent days has really got social media influencer backing making it soar faster and quick in a short range of time.
Meme token is not only use for jokes it now use by cryptotraders to trade and also invest in with aim of making profit,that why it is advice by some traders to take the memes coin seriously cause of it impacts in the cryptospace.
It is somehow risking investing in memecoin without proper analysis cause not all memecoin is worth investing on. It is advisable to invest on a memetoken which will stand a test of time and also a memecoin which has a capacity of earning profit when invest on them.
Once again, thank you prof.@wahyunahrul for the well explanatory lecture post, it was fun going through your task.