edited on PowerPoint by @rapharchick
Hi to you all. It is yet another amazing time here at the crypto Academy with our lecturer Professor @wahyunahrul who has taken us through this amazing lecture on "Meme tokens". I will be answering the questions as follows.

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

In my opinion, mem tokens will be amongst the cryptocurrencies that will have a big impact on the cryptocurrency market because the remarks made by several prominent and influential individuals on different social media platforms is one of the elements that will promote meme tokens this year. An example is a comment made by Tesla’s leader Elon Musk on the 15th of April 2021 about meme tokens and how his tweet on the twitter social platform from such influential and prominent individual can affect the market capitalization of the said coin, the dogecoin which greatly increased. Elon musk even permitted business deals in his company to be done with Dogecoin. Below are some screenshots of Elon Musk’s tweet.

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Remarks also made by other influential platforms (trading platforms) about the different mem tokens is positively influencing the token’s market capitalization. When Coinbase officially included the Shiba in their market place mid-September 2021, this tweet by coin base alone attracted many investors to this token and other mem coins which is a plus to the impact mem tokens will have on the crypto market this year 2021.
Also, as competition with other mem tokens sets in, there is a high probability of competition rising amongst the different meme coins. As we know competition alone will affect the quality of the coins and the services attached to their creation. This sponsors and betters the quality of services rendered and attached to the coins which increase trades, sales, and exchanges on daily basis. And all these of course influences Market Capitalization which also has an impact on the crypto market. So, with all of these from influential platforms, fan clubs, and social platforms, the impact of mem tokens on the crypto market is bound to increase as token inventors now make use of global icons to promote their coins. All these put together contribute to increasing the impact of mem coins in the cryptocurrency market this year.

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

No, I do think that the creation of meme tokens was and is of great necessity. Looking at the influence and benefits that meme tokens that have a place of use have brought to the crypto market it is okay to say that their creation was necessary. Firstly, they come in to increase an investor's variety. An investor or a trader can now choose from a variety of coins a mem coin that suits him based on how that coin operates.
Also, the creation of meme tokens breaks the monopoly that some other coins hold. This gives traders and investors the confidence to trade using them so nobody will secure monopoly power for their coins. So the creation of meme tokens is dealing away with the concept of monopoly that some older coins that had been in circulation held. The creation of meme tokens gives new investors the security and confidence that the cryptocurrency market isn’t a small market as this too boosts their Morales towards crypto trading. But ill love to say that it isn’t just amazing creating a mem token. Every inventor before creating a token should provide a use case where that token can operate. For example, the Shiba in can be used on shibaswap etc…. Originally meme coins were created at random and also as a joke to insinuate Bitcoin but if inventors shift their focus fro this then meme coins will have to be of great necessity to the crypto market.

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 have to choose a meme token to trade or to invest with on the crypto market then I will go for the Shiba Inu. The reasons for my choice can be viewed from these points of focus which include the data about the coin, community, User cases and the prominence of the coin on social media

1. Data about coin:

Rank=17
Cuurent Price= $0.0000336
Markey Capitalization= $13,259,443,016

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This token over the days has moved from the 20th rank position to the 17th ranking position to show us how powerful this token. I keep getting better and closer to the top, and also we can see from the screenshots above that there has been a recent rise in the price for Shiba Inu and we still belive that the price will keep spiking as time evolves. So everything about the data for The Shiba Inu is on a steady rise.

2. COMMUNITY

The Shiba Inu has a very great fan community. They are commonly called the ShibasArmy with so many projects that keeps making the coin to thrive. From our screenshot below we an see that This token has a great community on almost all social media platforms that brings its fans together to kae the token a better one

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3. USER CASES

As we all are aware of, most meme tokens were just created for fun and at random but the case is quite different with the Shibas inu which has a user case that can be used by its entire community to carry out a number of activities. The Shiba Inu has the Shiba swap platform which can be used to saw[ between Shia Inu and many other ERC-20 tokens. This and many other services including the "Bury service " makes the meme token one to invest in. Belo is a screenshot of the shibaswap platform

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)

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For investment, I will choose the MONACOIN as a good investment tool. Let us consider the following fundamental analysis about the mona coin.
The Monacoin also Known as MONA was created in 2013 within the Monacoin project in Japan. This explains why the coin is widely used there. Monacoin was developed by Mr. Watanabe and it is known to create blocks faster than bitcoin does.

Though ranked #430 on the coinmarketcap platform, the coin has a market capitalization of $96,906,298 with a 24hour trading volume of $855,451 and a circulating supply of 65,729,674.87 MONA. . The MONA is also known to be available on a good number of trading platforms including trading view, bitbank and coinEx with a very minimal transaction fee as compared to other tokens. Putting all these together we see that the MONACOIN stands as a good token for an investor to invest into.

CONCLUSION

In conclusion, I will say meme tokens play a very important role in the cryptocurrency market which cannot be underlooked. Meme tokens like dogecoin which actually started as a mere joke years back later became amongst the market's top 10 ranked coins and with intentions better than just a mere joke or an insinuation to other tokens, inventors keep creating and developing other meme tokens with different services attached to them. This makes the crypto market more liquid and busier. Nevertheless, we must be very wise and open to information as investors before concluding on investing in a give meme token because as serious as some token inventors are with the growth of their tokens, others are more interested in making a fortune out of theirs without even thinking about its continuity and sustainability. We must watch out and choose wisely.

I am needing by saying thank you to professor @wahyunahrul for this lecture. i have been exposed to so much knowledge following this course this week. Thanks for reading

@wahyunahrul