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

3개월 전

Thank you much professor, I never even think meme token exist or Dogecoin is a meme token.

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

1634915476107.jpg
Pixabay

Meme cryptocurrency could have a big impact on the cryptocurrency market in 2021, and the impact that is possible for Meme cryptocurrency to have is a good impact because people like anything funny, not anything boring, even those that didn't know anything about cryptocurrency would invest in meme cryptocurrency and once people keep investing in cryptocurrency, the cryptocurrency market cap would keep increasing. For instance; the last time I log on facebook, a friend on facebook create a meme group on facebook, he posted some Meme pictures that would make even a sadist burst into laughter and this group got more than 11k likes in few hours. This way, Meme cryptocurrency would bring people into the cryptocurrency world

Some people that didn't even know anything about cryptocurrency won't even take a look at the chart, what they want is just anything funny, once they find it funny, they would invest, even if it's not much, little drop of water 💧 make an Ocean. Once they keep finding it funny, they could make more investment and by this they would understand what cryptocurrency really means, they would understand the chart, they would know how and when to trade it.

Some people are addicted with cryptocurrency, people like Elon Musk, these are people that would help meme coin have impact in the world of cryptocurrency

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

Meme Token is a type of Cryptocurrency that is need to be created! Like I said in answer number one, some people like anything funny, anything funny draws people's attention, this same way, Meme token could draw people's attention to Cryptocurrency Market, what the coin issuers just need is to keep advertising the meme token with funny Memes.

1634920509621.jpg
Pixabay

After the meme token is created, what the Meme token issuers need is just not to stop doing funny things because that's what draw people's attention, once they didn't stop, there's tendency for investors to keep coming, but once they stop, they same way people invested in it is the same way they would withdraw from it.

Meme token is worth creating, good example is Dogecoin and Shiba inu that has already been listed in many exchanges, and thought that, they may have good investors that would make them popular and become altcoin like Zugacoin that overtake Bitcoin in price.

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 had to invest or trade a Meme token, the token I'll choose is the first meme token which is Dogecoin and the reason is because it's the first Meme token that made others to think of coming up with meme token project

1634919243630.jpg
Pixabay

More of my reason for choosing Dogecoin is Bitcoin behaves in the cryptocurrency market. Bitcoin is the first cryptocurrency ever since 2013, more than a decade now, Bitcoin chart is clearly understandable more than other coins. Although Bitcoin may not be the number one when it comes to the most cost in price in cryptocurrency in the market but if it would come down in price, it won't be too have so much effect on investors, or traders, especially if a trader use good indicators like RSI

How Bitcoin would come down in price isn't how other cryptocurrencies would come down in price. Recently, Zugacoin surpass bitcoin in price, and not long, it came down in price in an abnormal way. For instance, see one month chart of Zuga coin and Bitcoin below.

1634917764173_1634918255144.jpg
Bitcoin all time chart

1634917719243_1634918286527.jpg
Zugacoin all time chart

Dogecoin may act like Bitcoin, being the first, this is why I choose Dogecoin

1634917790166_1634918224409.jpg
Dogecoin all time chart

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)

My meme token choice is Dogelon maybe because I'm a fan of Dogecoin

Dogelon is a Dogecoin blending by Dogecoin Fan and investor; Elon Musk, the founder of Tesla.

1634918738710_1634918763517.jpg
Screenshot source

The goal of the Dogelon is to help people reach Mars more than they ever think of and not to be a victim of scams

This analysis below is as at 5:23pm, 21st of October 2021 Nigeria time

Dogelon is ranked number 27

Price : 0.0000004289USD (-11.58)

Market Cap : $235,402,196 (-14.62%)

Fully Diluted Market Cap : $428,925,941 (-14.62%)

Volume 24hours : $96,299,180 (-34.12%)

Volume/Market Cap : 0.4192

Circulating Supply : 548,817.81B ELON

Max and Total Supply : 1,000,000,000,000,000

If I'll invest in this coin, I'll make it a long term investment, like a year, below is the chart of a year, although there's ups and lows but there's no much loss and at the end of the year, there's gain, not loose

There's ups and downs in cryptocurrency, so if you'll trade cryptocurrency, you'll need good indicators that could predict price future and keep eye on it by yourself

In today's chat, there's ups and there's downs, there's entry and there's exit and there's all time high for today

1634917849968_1634918187801.jpg

1634917879550_1634918143396.jpg

How I trade

1634918089014_1634918122566.jpg

I applied moving average that follows the price as it goes and Bollinger Bands that surround the moving average in order to identify the trends for me.

Conclusion

Meme is fun, so, with fun, investors should invest, and investors should make profit.

A trader that choose to trade with Dogelon coin need to use at least 2 indicators, in order to understand the trend.

Dogelon coin may be too low in price now, but a wise investor would buy as much as possible now and just HOLD for at least a year.

Soon, funny coins may be the new cryptocurrency technology due to, good example is Dogecoin and Shiba inu.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
ADVERTISEMENT
Sort Order:  trending

Hi @sors, Thanks for taking my class.
Based on the homework that you have made, here are the details of the assessment you get:

Assessment AspectScore
Personal opinion on the popular Meme Tokens in 20210.5/1
Personal opinion on the type of cryptocurrency Meme Tokens0.4/1
Choose to invest or trade on Meme Tokens0.4/2
Analyzing a Meme Token1/2
Conclusion0.6/1
Procedures, writing structure and effort0.5/1
Follows Rules and Guidelines1/1
#Club50500/1
Total4.4/10

My Reviews and Suggestions:

  • In questions number 1 and 2, your explanation is still very lacking, please try to provide some other additional information.

  • In question number 1 you should show a screenshot of the information you provided so that the info is more valid.

  • In question number 3, I ask you to choose between investing or trading, not choosing the Meme Tokens you want, that is question number 4.

  • 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. From what I see you only show the charts and prices of Meme Tokens, it's still not enough for fundamental analysis.

  • Your writing structure can still be improved, try to learn how to write a good article again.

  • Re-learn "Markdown Style Guide" to improve your writing skills.

  • Insert some additional pictures on your assignment to make it look more interesting.

Thank you!