Meme Tokens - Crypto Academy / S4W7 - Homework Post for @wahyunahrul
INTRODUCTION
{Q1; Why Meme Tokens could be one type of cryptocurrency that will have a big impact on the cryptocurrency market in 2021?
First of all, i want tell us what a Meme coin or Meme Tokens is,
A meme token is a coin that has no inherent value and often time than no utility they are typically themed around a Meme on the internet but not limited to memes, for example doge coin, the original Meme coin, I perfectly sure that most people are familiar that branded off of the doge Meme,
Reasons why Meme coin are circulating the crypto space now in 2021, back then creating a cryptocurrency was not so easy, you actually had to be a developer, there really was a lot to it and you really needed a niche set of skills in order to create your own cryptocurrency,
However, nowadays it's pretty much easier, all you had to do is pay the fee and sign up and boom you have created your own cryptocurrency, and that is how there are Meme coins popping up every single day, all they do is to pick a name, pay the fees and provide liquidity,
This year has been incredible for the cryptocurrency spaces both Meme coins, some said its because of the global pandemic, and every body has a lot of time to look at chart and cryptocurrency and people where trying to fine difference ways to make money at home, and this is what helps few Meme coins apart form dogecoin , actually convincing a lot of people that your coin is the next doge coin, because we all know the history of doge coin and the sudden pump this year 2021, a lot people who I invested on doge coin last year was in massive profit year,
So With that same mindset more people are still investing in Meme coins today,
{Q2; Do you think Meme Tokens is a type of cryptocurrency that shouldn't need to be created?
Absolutely there's a great need for Meme token, like I said before using doge coin as an example, those who invested on dogecoin at the beginning are millionaires now, well it doesn't mean that there's no risk attached to it, as you can make a lot of money on the Meme token, you can also loose a lot of money withing some hours, due to the fact that it has no inherent value,
I'm not gonna say that due to the fact that Meme Tokens has low inherent value or due to its risk interface, that this kind of Tokens should not be created, (no that not true) what really matter is that when trading a Meme token we should be very very careful on what type of token we want invest on, and also before we put our hard earned money on Meme Tokens, we should take our time to make research about the particular coin we want to invest in, that will help us to know if the token will make a lot of profit for us in the future,
in my opinion, I think i support the introduction of cryptocurrency slash memes Tokens, due to the fact people can use those coins to begin studying investments. Well, beside that, memes tokens has also contributed to the recognition of cryptocurrencies. As I defined above, memes have a unique place for crypto lovers in order to sell different cryptocurrencies to turn out to be more popular.,
{Q3;. 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!
actually if i personally needed to select to make an investments or trade with the memes coins, then I may select to invest due to the fact that the motion of memes tokens is is quite or very hard to predict, so making an investment is an effective manner in my opinion. however presently, investors additionally like to trade with memes coins, there are numerous motives why they select to trade like pumpings and due to the fact there is lots of memes coin which makes the price quite move up and down.
however for the purpose of this task, i think am gonna choose to make an investments and choose Samoyed coin, offcours am gonna choose Samoyed coin to make an investment on this coin. Actually I could have to select Shiba inu because the popularity currently, cryptocurrency memes primarily based totally on informations from the CoinMarketCap, however I found out that Samoyed coin is the perfect or the right coin to invest on due to the fact there is a long-term intention for this great project. the intention at the back of it. honestly speaking Samoyed coin is really a great project, it's simply that it's more targeted at the Japanese market,
The Samoyed coin which in short form stands for {$SAMO} is based on the solana's network, the main purpose for this token is to own a community and have fun, it system was initiated by Dogecoin, the CEO of Alameda Research and FTX) who is Bankman-Fried and the {co-founder of Solana} who is Anatoly Yakovenko,
for this reason they made the selection of this dog breed samoyed, which result in gathering those 2 giants together.
{Q4; Choose a Meme Token (Besides Dogecoin and Shiba Inu) and do an analysis of the Meme Token with the following conditions:
Samoyed token is a meme coin I prefer to invest on, so before investing my hard earned money in it I hard to do some fundamental research or analysis, to acknowledge more about the token, there is a prospective of an upside.
The current price of the Samoyed token has climbed up to 79.68% in the last 7 days. It's price also derease by 13.53% just yesterday 24 hours ago. simply the past hour, the rate reduced in size by 1.32%. The recent price is in my local currency NGN 11.603717 per one SAMO. Samoyedcoin is now 5.89% under the best-ever high of NGN 12.33.The recent circulating supply is now 2,728,946,647 {SAMO.}
I chosed to Check the prices in my currency so that, I will know the exact value of the token,
Samoyed token is recently ranked at #488 on the coinmarketcap as attested by market capitalization and its on the top 5 on the meme tokens number #5,
Here is Samoyed coin roadmap
The samoyed token or самоеa is a kind breed of dog emanate from the Eastern Europe, similar to Solana’s beloved [ceo] who is Anatoly Yakovenko!, according to what I understand, Samoyed main purpose is to assist the promotion of the solana's ecosystem through attractive exceeding its core, generally composed of greatly technological coins.
SAMO community has already stand fame just actually some few days old, and it multiplying larger through fascinating to individuals who might now no longer show or pay attention in cryptocurrencies. It actually pocess all of the upsides of the Solana’s blockchain network, [high scalability, and it has high speed, and low fees) as the same time as being a amusing cryptocurrency to invest on,
CONCLUSION
Before we choose to invest on any kind of cryptocurrency both main coin or Meme Tokens we should try to found out more details about the coin by visiting coin market cap or coingecko to perform a fundamental analysis on the particular coin we choose to invest on, all thanks to professor @wahyunahrul for this educative lesson,
I really learnt a lot,
Hi @ready247, Thanks for taking my class.
Based on the homework that you have made, here are the details of the assessment you get:
My Reviews and Suggestions:
Your explanation on questions number 1, 2, and 3 is still lacking and is too general, try to give more effort by providing some other additional information.
In question number 3, you should be able to provide additional reasons why you chose to invest in Meme Tokens. Because in that question you can still explain Meme Tokens in general, not specific to one Meme Token.
The data from the fundamental analysis that you provided in question number 4 is still lacking, please try to provide other data to prove that the Meme Token of your choice is good.
Pay attention to all questions, rules, and guidelines before creating assignments.
Thank you!