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

anmolwajid (57)Beginner[1,2,3,5,7,8,9,10]in SteemitCryptoAcademy • 3 years ago (edited)

Hello Steemians, today I'm going to write about meme tokens. So, without any irrelevant details, lets start...

Q1. Why Meme Tokens could be one type of cryptocurrency that will have a big impact on the cryptocurrency market in 2021?

Meme Tokens are the latest cryptocurrency craze. They are mostly used as a joke but they are also a useful crypto currency asset. Meme Tokens provide a new form of cryptocurrency with many possibilities. Memes are popular and the fact that Meme Tokens are so easy to create means there is a large market for them. I think this type of cryptocurrency is going to shake up the market and bring in some new fans and meme creators. The type of memes it can create is very diverse and there has been an increase in content for Meme Tokens specifically which shows their popularity. The trend for Meme Tokens is here to stay and there are some very good reasons why it has become so popular.

Source

The main reason is that they are funny and the latest craze. Not only that but they can be used as a serious cryptocurrency and one that you can use to make money. It is also an easy cryptocurrency to use so it doesn’t take much time to decide if it is worth buying. This makes them even easier for new users to understand. There are so few cryptocurrencies out there that are easy to use, so this will become a real trend. The type of memes that could be used with Meme Tokens are limitless. Everything from the trending meme to the classic meme can be done with these cryptocurrencies.

Q2. Do you think Meme Tokens is a type of cryptocurrency that shouldn't need to be created?

Meme tokens are already been created and with the creation of meme tokens you can see people's interest in cryptocurrencies. Joking aside, I believe we should also investigate this idea and we might need it in the future to introduce new coins into the market. This amazing idea by Charlie Lee is a great opportunity for investors to come along and take advantage of this opportunity as well as boost the development of cryptocurrencies. If you think Meme coins are a joke then you must believe that Cryptocurrencies will become our future global currency and financial system.

Source

The most important advantage of creation of meme tokes is that it will help in getting more investors to the crypto world. These coins are essentially bought with bitcoin or with any other crypto pair as per available on the exchange website that you are using. These tokens are already being traded among investors for a huge profit.

The very first Meme Coin is Dogecoin. It was created based on a popular internet meme, Doge on December 6, 2013, by Billy Markus and Jackson Palmer. This coin is currently the 10th largest cryptocurrency in market capitalization. Investors have increased their investments on this token due to its potential to increase of value by 400% in 3 years of existence!!! That's crazy! So, we should appraise the creation of meme tokens as it is really making an attempt to increase the popularity of cryptocurrencies to a whole new level.

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.

If I had to choose to invest or trade on Meme Tokens, I'll choose to invest. Why? Because I can make more money by investing in Meme Tokens. Why would I choose to invest over trading? Because the higher the investment, the greater potential for profit. This is not something you should take lightly. This is a serious decision that you will have to live with for the foreseeable future. The main reason I chose to invest in meme token because it make highly volatile movements on the call of someone (i.e. dogecoin call in a meme by Elon Musk) or on some big investment from a crypto whale.

Source

Last time when Dogecoin made drastic upward movement on the call of Elon Musk, it turned out to be the best investment for the people who were holding Dogecoin for a long time. In the following high profiled individuals have made great returns from investing on meme tokens.

Ryan Gosling aka Ryan Reynolds - A Meme Takeover - Full Price: $0.0002707 Price at the time of this article: $0.000012805062 Price at September 20th, 2017 was 0.00000099090869114 Price at September 21st, 2017 was 0.0000009524776687 Price at September 22th, 2017 was 0.00000090040095794 (Current Value:$0. 0003196318)
Emma Watson - A Meme Takeover - Full Price: $0.0004357 (FULL PRICE: $0.0000005457457457 ) Price at September 20th, 2017 was 0.00000129197444466 (Current Value:$0.00063899385)
Alpacino - A Meme Takeover - Full Price: $0.0001165 (FULL PRICE: $0.0000007857894578 ) Price at September 20th, 2017 was 0.0000011305865686 (Current Value:$0. 0002338505)

and there are many more meme takeovers which you can track and invest in the token and reap huge returns.

Q4. Choose a Meme Token (except Dogecoin and Shiba Inu) and do an analysis of the Meme Token with the following condition:
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)

I will choose Hoge Finance (Hoge) as an investment because it is a small cryptocurrency with that much market cap. Currently having $71 Million of market cap with the highest of nearly $300 Million. The Hoge Development Team is actively building Hoge. Hoge is an ERC20 token based on the Ethereum Network. They are also implementing a decentralized exchange that will be compatible with the ERC20 protocol. So, hoge has a very bright future if taken as an investment.

About Hoge Finance (Hoge)

Source

Hoge Finance (HOGE) is a meme cryptocurrency, with the acronym 'HOGE' standing for "Holding Only Gets Easier". The cryptocurrency is based on the Ethereum network. It was initially created as a joke, but it quickly turned into a meme. Nowadays, Hoge is showing no signs of slowing down. The currency is going strong with a market cap of around 71 million USD and a 24 hour volume of ~$600K USD. Hoge Finance (HOGE) uses Proof of Work (PoW), and has 404,273,435,884 coins mined.

Source

In fact, a single hoge was worth a measly 0.00000004 BTC back in November 2017. That's right! The currency was valued at ~0.00000004 BTC per coin towards the end of November 2017! Investors believes that hoge will continue to grow in value. In fact, the cryptocurrency has been growing rapidly since its inception. With a circulating supply of about 404 billion, hoge is one of the most aggressively traded cryptocurrencies out there. So, Hoge is really a good investment because it is rare to find a cryptocurrency with such a large market and solid growth and it looks like it will only continue to grow in the future. Even Bill Gates mentioned this currency as one of the few cryptocurrencies which is an excellent investment.

5. Conclusion.

I will conclude this post with a quote from Elon Musk:

"If you don't want to be robotics, you have to be cryptocurrency."

Investing is very risky. You should always seek advice from a financial expert before committing your money. Meme tokens are having much impact on cryptocurrency market, they are great investment tools and they provide great returns. More meme tokens should be encouraged .Cryptocurrency has made it possible to have the freedom of being involved in financial activities easily. It is very easy to engage in cryptocurrency through mining or trading. Investment in meme tokens is better as compared to trading. One can buy meme tokens with dollars or other fiat currencies. But when it comes to investment in meme tokens, he has to consider the fact that they are making more profits than trading in cryptocurrencies.

Thanks to @wahyunahrul for this interesting lecture.

#wahyunahrul-s4week7 #cryptoacademy #meme #cryptocurrency #club5050

3 years ago in SteemitCryptoAcademy by anmolwajid (57)Beginner[1,2,3,5,7,8,9,10]

Sort:

steemcurator02 (58)mod 3 years ago

Do not use the #club5050 tag unless you have made power-ups in the last 7 days that are equal or greater than any amount you have cashed out.

6 days ago Transfer 20.000 STEEM to deepcrypto8 101452218
7 days ago Transfer 70.593 STEEM to deepcrypto8 101452218

$0.00

STEEM 0.25

TRX 0.21

JST 0.037

BTC 98412.70

ETH 3501.42

USDT 1.00

SBD 3.41

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

Q1. Why Meme Tokens could be one type of cryptocurrency that will have a big impact on the cryptocurrency market in 2021?

Q2. Do you think Meme Tokens is a type of cryptocurrency that shouldn't need to be created?

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.

Q4. Choose a Meme Token (except Dogecoin and Shiba Inu) and do an analysis of the Meme Token with the following condition: 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)

About Hoge Finance (Hoge)

5. Conclusion.

Coin Marketplace

Q4. Choose a Meme Token (except Dogecoin and Shiba Inu) and do an analysis of the Meme Token with the following condition:
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)