Hello everyone and welcome to steemit crypto academy season 4 week 7.

Introduction.

I am very excited to be a part of this professor @wahyunahrul's class once again this week. This week' s lecture is on meme tokens and their importance.

I would now like to present my solution to the task given.

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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A meme token is a type of cryptocurrency purposely created on the blockchain technology to entertain or serve as a joke on the blockchain technology.

The Meme token originated from the creation of a cryptocurrency called "Dogecoin". This cryptocurrency was evolved by the ideas of Billy Markus and Jackson Palmer in 2013 who are software engineers. They brought this idea of eliminating intermediators in transactions to enhance peer-to-peer transactions.

The basic idea behind Dogecoin's creation was to mock the hype about bitcoin that was being discussed back in 2013.

Jackson Palmer wanted to buy a domain name that would be used as a joke about bitcoin, and the domain he bought was "dogecoin.com".

A software technician called Billy Markus fortunately visited the website owned by Jackson Palmer. This software technician wanted to create a cryptocurrency but promotion of that cryptocurrency was a hindrance to its success, so he reached out to Jackson Palmer to work as a team to create a cryptocurrency named after his website domain name known as "dogecoin".

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

In 2021, the cryptocurrency space is quite interesting. Memes were created as jokes on social media platforms, which converted into cryptocurrency, and people are buying into them. Many people have their assets in these tokens, and they have earned money from them.

The idea of a meme token started in 2013. It has been on the crypto market for a while with less market value. An influential person in the world of technology and social platforms tweeted about this cryptocurrency on his twitter account, which made it attain its all-time high value. Many people feel the need to own this asset, which makes this cryptocurrency competitive in the crypto world.

Creating awareness of this cryptocurrency among social media influencers such as Elon Musk by talking about it on his social media handles is ensuring the reliability of this cryptocurrency. This brings so many people to buy into the idea of investing in crypto assets, and specifically in meme tokens. Since he made a tweet about the father of meme tokens, dogecoin, meme tokens have gained fame in the crypto space.

Also, in May 2021, when the CEO of Facebook, Mark Zuckerberg, posted pictures of his pet goats titled "my goats: Max and Bitcoin." The meme token called Aqua Goat increased about 300% in value after a few hours of the social posting by the ceo of Facebook. This has shown the value of meme coins or tokens to social media influencers and celebrities, which brings a mass of people to join the trading of meme tokens.

The performance of meme coins or tokens is extremely good, as some of these tokens were ranked among the top 10 coins with high market capitalization. As at the time of writing this post, dogecoin was ranked in the 9th position among all these cryptocurrencies.

Since dogecoin was created, the success of this coin has led to the evolution of many meme tokens. This was created for fun and mockery of the bitcoin blockchain. This leads to the creation of other meme tokens in the crypto world. Some of these tokens have also performed well, such as Shiba Inu and Kishu Inu in the market.

Many of these cryptocurrencies were created with the basic idea behind dogecoin, but improvements to these tokens were made.

Shiba Inu is a meme token created on the ethereum blockchain, which has also been ranked among the first 20 cryptocurrencies with high market capitalization. This meme token was created by Ryoshi in August 2020. It was created as an altcoin of dogecoin, which itself is an altcoin of bitcoin. This was named after the Japanese dog breed, shiba inu.

In recent times, the coinbase has included the Shiba Inu in their market place, which is a great achievement for this token and meme tokens as a community. The trust of the coinbase market exchange for this coin created the fame of this coin and meme tokens, which define the future of meme coins in the crypto world.

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

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The communities of these cryptocurrencies have impacted lives. From the lecturer's note provided, we have learnt how the dogecoin community did fund raising for a member who lost a doge worth US $12,000. Members of this community also contributed a total of US $50,000 to a Jamaican athlete. This was a great job done by the Dogecoin community.

This cryptocurrency was created as a payment system in the form of a joke, making fun of the speculation of cryptocurrencies at the time. Despite this, people see it as a potential investment prospect. This really shows that people buy into the idea of these tokens.

For this reason, meme tokens have different purposes in the crypto space. An example is meme.com, which aims to create a meme curation platform, powered by the MEM token, that encourages users to find new memes as they are born and stake their holdings to become the owners of each new meme in NFT format.

People are creating memes every day to post onto the internet and social media to make it an interesting place of socialization. These people can actually earn curation rewards on this blockchain by staking their new memes.

The reasons given above state why meme tokens should be created. Meme tokens also have purposes like bitcoin. There is no longer any connection between these meme tokens and their original purpose, which was to generate jokes and mockery about bitcoin.

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.

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Meme tokens are now gaining popularity in the crypto world. There is a need to invest in one of these interested meme tokens. From Coinmarketcap's official website, there are over 100 of these tokens, which shows how people see the future of meme tokens and would want to own cryptocurrency based on the idea of this meme token.

People in the crypto world would want to surf the internet for memes on blockchains. This will be their source of happiness and earning platforms. Many of these tokens are on the market, but I would choose to invest in one of these coins.

In early 2021, we saw dogecoin outperform bitcoin and other cryptocurrencies in the market. This cryptocurrency was created with the aim of other cryptocurrencies, thus to eliminate third parties in transactions. And the communities of these tokens are supportive, making the blockchains stronger and function effectively.

In recent times, when we see Elon Musk investing in Dogecoin, it speaks well of meme tokens. Rich people keep their assets in projects they have trusted. If this idea of a meme token was seen as unsuccessful, then people like Elon Musk would not want to invest a cent in this coin. If you invested $100000 in this coin earlier, you would be a billionaire by now. The price of one dogecoin at the time of writing this post was $0.2441.

From the basic mathematical calculations,

If 1 doge=$0.0005588,

After that, Xdoge=$100,000;

X=178954903.36doge X=178954903.36doge X=178954903.

At the current price of dogecoin, you would have owned $43,682,891.91 as your asset. This is a huge sum of money if you invested in this token at the early price of this coin. The fact that people say they have no fundamentals for creating these coins does not mean you can not become rich by investing in these tokens.

The crypto world is risky because investing in coins for the love you have for them is more difficult than thinking about your future earnings on that coin. I invest in tokens because I foresee making profits from them in the future.

I would choose to invest in the Samoyed coin.

Fundamental analysis of Samoyed coin (SAMO).

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I chose Samoyed coin as my choice to invest in as a meme token. I took a look at the fundamental analysis of this token and it appears to be performing well among thousands of other cryptocurrencies. This token has shown some potential to sky rocket above other tokens in the market.

Samoyed coin was launched this year. It was created by two giants, Sam Bankman-Fried (CEO of Alameda Research and FTX) and Anatoly Yakovenko (co-founder of Solana). This meme token was inspired by dogecoin.

As at the time of writing this task, according to coinmarketcap the Samoyed (SAMo) had a price value of $0.03162, a circulating supply of 2.73B SAMO, total supply 10,309,697,429, a market cap of $86,296,711, and a fully diluted market cap of $325,901,589.

SAMO has a 24hr trading volume of $4,693,048.50, market rank #468 and market dominance 0.00% which means its volatility cannot affect other coins.

To invest in cryptocurrencies that have a future, invest in cryptocurrencies with a market cap of 1 billion or less. People began to buy the idea of that token in some way, and your profits will increase.

Samoyed coin was created on the solana blockchain, aiming to be community-owned and fun. The Samoyed is a breeding dog originating from Eastern Europe. It was their aim to help grow Solana’s ecosystem by appealing beyond its core, which was mostly composed of highly technological coins.

The community was strong already after days of samo released, and growing more by appealing to people who are not interested in cryptocurrencies. It has all the upsides of Solana’s blockchain (high scalability, high speed, and low fees) while being a fun cryptocurrency to trade in the market.

Conclusion.

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I must say a big thank you to prof @wahyunahrul for this very informative lecture.

I have being able to learn more about meme tokens and how they are impacting on the market. The first meme token created was dogecoin to be bogus of bitcoin. This coin was less in value and few people knew of these tokens.

These tokens gain popularity in the early part of 2021 when a social media influencer Elon Musk made a tweet about this coin. This token performed 1000% times of bitcoin this year from coinmarketcap. The performance of this coin inspired creation of other meme tokens in the crypto space.

Thank you.