Meme Tokens - Crypto Academy / S4W7 - Homework Post for @wahyunahrul by @g0h4mroot.
1). Why might Meme Tokens be a type of cryptocurrency that will have a major impact on the cryptocurrency market in 2021?
Meme tokens have been with us for a long time, even before coins like ETHEREUM were born, meme tokens were with us.
The DOGECOIN started this wave of meme tokens with its birth in 2013, but it wasn't until early 2021 that it began to take this coin seriously.
The fact that people started talking about meme coins started when the names of some people who became millionaires with these tokens became known.
This year, with the rise of memecoin and the push of some famous people who have decided to support this economy, many ordinary people have started on blockchain.
The memecoin being very low-cost currencies, they sell us the illusion of being obtaining wealth in a very short time thanks to their volatility, but this is a double-edged sword, we can certainly become millionaires overnight or simply see them vanish. our investment in a few days ...
Personally I think this is the great attraction of memecoins for people this year, the arrival of the global pandemic has destroyed many homes and many people are looking for alternatives to their boring jobs to generate extra income for their family and why not do it in a coin that sells you the illusion of early wealth.
The people who invested $ 100 in a meme coin earlier this year right now are millionaires.
With the arrival of $ HIB to the blockchain, memes are consolidating in the market and even occupy very high places in the ranking of cryptocurrencies that belong to other projects.
The above is what makes these coins very attractive to the general public.
2). Do you think that Meme Tokens is a type of cryptocurrency that should not be necessary to create?
Blockchain is decentralized and there should be no prohibitions on what currency to create and what currency not, what should exist is more information about these currencies and some notices in exchanges about the danger that this type of investment entails, and leave to the decision of the investor and trader whether or not it is right to invest.
In all the markets of the world there are good projects, bad projects, copy projects and scam projects, and blockchain is not exempt from this, each person should study about the market that he plans to invest.
Limiting the market to specific projects would not be convenient and would reduce the number of investors to a select group as in WallStreet, this would stop the boom that is beginning to be created in blockchain, some people have known blockchain thanks to memecoins , others thanks to blockchain blogs like steemitblog, and others thanks to news and comments from influencers around the world.
3). If you had to choose to invest or trade Meme Tokens, which one would you choose? Explain your choice in detail and provide strong evidence of your choice.
DOGELON is a relatively new memecoin, which with the rise of memecoins and the dog craze came to light in early April to overtake dogecoin.
This coin is very particular, it combines the name of the popular Elon Musk and his fondness for reaching the planet Mars and the first meme coin, to form DOGELON MARS, there are rumors that the creator is Elon Musk but there is no certain theory about it. is.
This coin has recently been listed on some reputable exchanges such as gate.io and on its first day it rose almost 300%, currently it ranks 260th in the coinmarketcap ranking with a price of $ 0.0000004645 and a market capitalization of $ 255,959,421.35 , when performing this task.
This currency can be obtained at uniswap, gate.io, kucoin and poloniex among others.
It has climbed in the ranking of the best 500 cryptocurrencies, starting from position 3,700 in the ranking and has surpassed important projects such as tellor, certik and daomaker.
4). Choose a Meme Token (except Dogecoin and Shiba Inu) and analyze the Meme Token with the following conditions:
- If you choose to invest in question number 3, do a detailed fundamental analysis of the Meme Token of your choice to show that the Meme Token of your choice is a good investment tool. (Screenshot required)
Although there is very little information about the DOGELON MARS, I have carried out an analysis about this token.
The token is listed in gate.io and kucoin, it is an ERC-20 token with a value of 0.00000048.
Being a memecoin, its website does not provide much information about the project.
The project does not have a roadmap or an established whitepaper, but the devs insist on saying that they are not a token of puppies in the heap.
Investing in DOGELON MARS is a high risk investment that can generate very good profits or simply make us lose everything in a short time.
- If in question number 3 you choose to operate, do so with a small capital or with a demo account. Show how you operate based on the information you obtain and explain the supporting indicators you will use. (Screenshot required)
To record my investment I leave a screenshot of the app, using my verified account.
To invest in DOGELON MARS (ELON) you used the RSI indicator.
RSI
This is an oscillator type indicator that allows us to establish parameters that indicate possible trends.
the rsi consists of 2 lines and a triangle wave.
the top line is set to see if the asset is overbought and is set at 70%.
the bottom line is set to indicate a possible oversold and is set to 30%.
In the chart below he used the RSI to get a buy signal on the USDT / ELON pair.
the rsi is at 50% is right in the middle, this means that the asset could go up or down, but I have placed some trend lines.
the graph shows a shoulder-head-shoulder and the asset is making support, the support is indicated by the orange line.
These are buy signals and I have decided to buy the asset.
Memecoins have been on everyone's lips recently, and it is no wonder, dog memes are striking and cute.
These projects are useful, but they can also be turned into a double-edged sword.
A memecoin has to be a good investment or a bad investment, it all depends on when we make our purchase.
If we operate in the boom of the fomo we may lose our investment, but if we operate earlier we are likely to make a profit.
Each memecoin is a highly risky investment but it is an investment that can yield great returns.
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.
Excuse me sir, I thought I could power up when the post was done, so use the tag!