Contrary to their performance in 2021, several cryptocurrencies, especially the meme coins, have fallen hard to the ground in 2022. Meme coins like Dogecoin and Shiba Inu, which witnessed a rapid rise last year, have lost their market cap by over 50% in recent months. The current bearish crypto market sentiment has also made investors question the viability and stability of meme coins. In fact, many investors have left Dogecoin and Shiba Inu to seek better alternatives that offer real-world utility and use cases.
Chronoly.io is a new player in the market but has successfully established itself as a shining crypto gem and a serious challenger to long-standing cryptocurrencies. Investors across the globe have been putting their faith in Chronoly.io, due to its unique trust-based and real-world utility.
Most notable is the fact that Chronoly.io has been running on the positive track at a time when most cryptos are finding it hard to breathe. Chronoly's CRNO token, in its presale phase itself, is up by 560%, and experts opine that it may increase by over 2500% before the end of the presale.
Meme coins like Dogecoin and Shiba Inu gained a lot of popularity in a short period. However, a key issue with meme coins is they do not have any real-world use. These cryptos are associated with only internet jokes, and their value is backed by hype and speculation. There are not many uses that these meme coins offer. So, once the hype subsides and speculation goes awry, their value is likely to fall.
This can be seen in the cases of Dogecoin and Shiba Inu. The meme coins hype has dried up, and, after hitting an all-time high of $0.70, Dogecoin's DOGE has tumbled over 80% to settle at $0.07 in less than a year. The same is the case with Shiba Inu's SHIB, which has fallen 65% from its all-time high value.
Since meme coins do not have real-world asset backing, risk-averse investors have distanced themselves from Dogecoin and Shiba Inu. Investors, at large, avoid putting their money in projects solely based on hype and speculation. Hence, Dogecoin and Shiba Inu have witnessed a widespread selloff, losing significant ground to other reliable and stable cryptocurrencies.
Chronoly.io is the next-generation crypto project that mints NFTs of rare luxury watches. It is the world's first blockchain-based marketplace where people can make fractional investments in luxury watches like Rolex, Patek Philippe, Richard Mille, and other multinational brands.
Chronoly.io platform first buys the physical version of rare and exclusive watches and then mints NFTs against them. This way, each NFT minted by Chronoly.io is backed by real-world assets, i.e. physical versions of the rare luxury watches. Besides, multiple investors can invest in a single piece of NFT watch. The project allows people to buy and sell shares in rare luxury watches for as little as $10, and a person can also buy the 100% NFT of any timepiece and redeem it for the physical version of the watch.
Dogecoin and Shiba Inu are not backed by any real-world assets and do not have any tangible utility. Their value proposition is based only on hype, which keeps investors uncertain about their investment. On the other hand, the value of Chronoly's CRNO is driven by underlying real-world assets. Chronoly's CRNO offers its investors stable, transparent, and tangible investment options. Therefore, the project has become a hot product among investors looking for assured and steady gains.
Chronoly.io, which debuted in May 2022 at $0.01, is in the second phase of presale and has jumped to $0.066. Moreover, several crypto analysts have predicted that CRNO will offer more than Dogecoin and Shiba Inu in the long run and could rally by 2,500% before the presale closes
Website: https://chronoly.io/
Presale: https://presale.chronoly.io/register
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.