As meme tokens are climbing again, some experts are pointing to Shiba Inu’s (SHIB) rally as a sign that speculative investors are flooding into tokens hoping for quick and easy gains: a sign that investors are becoming greedy, even in the bear market of 2022.
Following the latest fall in Shiba Inu’s (SHIB) price, we’re going to look at the dramatic decline amid broader crypto bearishness before looking at one utility token that’s going from strength to strength recently: Chronoly.io (CRNO).
Shiba Inu (SHIB) is an old dog
Shiba Inu (SHIB) spawned as a spin-off from the original meme token, Dogecoin (DOGE). Like Dogecoin, it doesn’t really offer anything different from the hundreds of serious competitors in the crypto market.
Because of this lack of real value, meme tokens are seen as purely speculative, and their rallies represent how frothy crypto market investors are becoming.
Huge volatility was seen in the latest rally of Shiba Inu (SHIB), which followed along in an uptrend alongside the rest of the crypto market. On the 14th of August, Shiba Inu (SHIB) broke out from $0.0000126 to hit a high of $0.000018 on the same day, a 40%+ increase in just a few hours. But, as the rest of the market declined, this rally came tumbling back down right to its origin just five days later.
Now analysts are wondering whether this was just a liquidity grab by big sellers to take prices lower as expectations for the broader crypto market weaken. Only time will tell if buyers of this rally will be burnt further as the market declines.
Chronoly.io (CRNO) is anything but a meme token
There’s one token that many traders have been eyeing for its fantastic gains over the past couple of months. While other tokens have seen rallies of 40%, 70%, and even 150%, nothing has come close to Chronoly.io’s (CRNO) rally of 560% between May and August.
Unlike speculative meme token projects, Chronoly.io hopes investors realize the potential of its native token, CRNO. Chronoly.io aims to create a decentralized marketplace where users can trade NFTs backed by real luxury watches held in their secure vaults worldwide.
Savvy investors have long used the luxury watch market to protect their money against inflation and bear markets. Now, you can be a part of this elite club of investors for as little as $10 with a fractional NFT.
Chronoly.io is offering NFTs from some of the world’s most prestigious brands, like Rolex, Cartier, and Audemars Piguet, and once you own 100%, you can even redeem your NFT for the real thing!
Because of the potential Chronoly.io has to disrupt the luxury watch market, investors are now turning their attention to its presale. Chronoly.io (CRNO) is designed to facilitate transactions on the marketplace. You can trade in Chronoly.io (CRNO) for a discount and stake your tokens for a passive income alongside the expected growth of CRNO.
As it stands, Chronoly.io (CRNO) tokens are selling for $0.066 each and are expected to see further growth that would blow meme tokens out of the water. Top crypto analysts are highlighting the potential gains of Chronoly.io (CRNO) by the end of presale in September, with many eyeing $0.75 as their first target – representing a 1000%+ increase in a little over a month.
For more information about Chronoly.io presale
Website: https://chronoly.io/
Telegram: https://t.me/Chronolyio
Presale: https://presale.chronoly.io/register
Twitter: https://twitter.com/Chronolyio
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