The downturn in the price of Shiba Inu (SHIB) has been worsened by the recent disappearance of the project's founder Ryoshi. There are now concerns that Shiba Inu can collapse like Terra's LUNA if investors pull their investment due to the lack of positive developments in the coin.
Shiba Inu has seen its price drop further with negative sentiment after the founder walked away and wiped key tweets from his account related to the project. Investors are now looking for better investment options and Chronoly (CRNO) is one project that has caught investors' attention with a 400% rise. Analysts have high hopes for the project which is still under the radar of many investors.
The so-called Shib Army community of Shiba Inu followers has been rocked after the news that the SHIB founder Ryoshi had wiped his Twitter account and disappeared. The pseudonymous founder deleted all of his tweets and blog posts on Medium.
Ryoshi left a farewell message on Medium which said that he was "not important" and that "one day (he) will be gone". Investors didn't take well to the news with a more than 60% drop in burn rate over 24 hours. According to a report by cryptocurrency analysts at Finder, Shiba Inu could suffer the same fate as LUNA if investors walk away. The Shiba Inu project even has a stablecoin in development which was the cause of the collapse of Terra's LUNA.
Shiba Inu's SHIB coin was one of the best-performing coins last year and soon faltered as the meme coin hype withered away. The market now needs real developments to see further gains but the founder walking away will not give confidence to new investors.
Chronoly (CRNO) has attracted investor attention after its 500% rise in the token presale. Chronoly (CRNO) can solve the trust problem in the digital currency space because it does not rely on memes and hype. Chronoly (CRNO) is a project that allows investors to buy shares in rare watches from the world's top watchmakers such as Rolex, Patek Philippe, and Audemars Piguet. NFTs of each watch is minted and backed by the physical version of the watch, which is fully insured and stored in a depositary vault. That provides a real asset-backed cryptocurrency that has the potential to supercharge gains for investors.
With the meme and hype bubble popping in stocks and crypto, investors want safety, security, and stores of value. Watches have proven themselves as reliable investments for hundreds of years and that physical backing will add a floor under the price of Chronoly (CRNO) with a physical book value. Chronoly (CRNO) is a project that can outperform the market and investors can make money while they wait as the CRNO token can be staked for an annual yield. Some analysts see a potential 1000% gain once the project becomes more popular in the cryptocurrency space and is certainly one to watch.
More information about the Chronoly.io presale
Website: https://chronoly.io/
Presale: https://presale.chronoly.io/register
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio
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