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To truly succeed in the financial world, an asset needs to have substance as opposed to merely hype. This basic lesson has been painfully learned this year by many cryptocurrency investors. Several high-flying crypto assets hit historic lows as the market fell. One such token, Shiba Inu (SHIB), has experienced a dramatic shift in fortune in less than a year. It’s interesting to note that Chronoly (CRNO), a brand-new cryptocurrency that was introduced on Uniswap Exchange on October 6, 2022, broke the market’s prevailing negative trend by increasing 690% during the presale period.
Analysts currently believe that the CRNO token’s potential price increase from its initial launch price of $0.079 to $8 would exceed 10,000%. In this essay, we examine the reasons behind experts’ extraordinarily optimistic forecasts for CRNO tokens as well as the state of SHIB.
Shiba Inu (SHIB) struggles to cross over the Red line
Since May 2022, Shiba Inu’s stock has consistently traded in the negative. Although it occasionally recorded modest profits, they weren’t enough to give investors any cause for celebration.
Shiba Inu (SHIB) has fallen dramatically. On October 28, 2021, the SHIB token reached an all-time high (ATH) of $0.00008845. According to statistics from CoinMarketCap, SHIB is presently trading at $0.00001126, which is 87.2% below the ATH. SHIB traded profitably on the majority of days from January 2022 until the end of April, although over the previous four months, its price significantly declined.
Shiba Inu (SHIB), a cryptocurrency with dog themes, was hailed as the future of cryptocurrencies in the crypto-frenzy of 2021. Many investors gravitated toward this memecoin due to its incredibly low pricing and wild assumptions. However, as cryptocurrency markets began to feel the heat of uncertainty in a worldwide financial crisis commencing in May 2022, the weakness of SHIB tokens was made clear. Investors in SHIB began selling their holdings when the cryptocurrency market plummeted, which caused a sharp decline in the token’s price.
The absence of any core values is Shiba Inu’s worst drawback. SHIB tokens are not backed by any physical assets. The enormous craze around dog-themed coinage was the only support Shiba Inu ever received.
Shiba Inu’s developers promoted SHIB tokens as the “Dogecoin Killer,” which appealed to late adopters who had lost the chance to profit from Dogecoin. With the help of the Shibaswap exchange, Shiboshis NFTs, and a group of tokens like LEASH and BONE, the developers have also attempted to build an ecosystem around the SHIB token.
Why experts are optimistic about Chronoly (CRNO)?
Investors are drawn to Chronoly (CRNO) because of its long-term potential during the current crypto winter. As the utility token of the distinctive 24/7 watches investing platform Chronoly.io, analysts are optimistic about CRNO. This technology fractionalizes and tokenizes real-world luxury timepieces into NFTs, making watch ownership affordable for as little as $10. Each NFT offered by the Chronoly platform is backed by a genuine watch that is maintained in a safe vault, increasing the value to investors.
Chronoly is an Ethereum-based marketplace that enables users to purchase, trade, and invest in rare and expensive watches. By 2025, McKinsey projects that the percentage of luxury watches in the overall watch market would increase to 64%. As a result, there is a lot of interest in the CRNO utility token.
Investors purchased all of the available tokens during the presale. Near the end of the presale, high demand increased the price of the token by 690%. The CRNO token is predicted to hit $3 shortly and has the potential to increase by more than 10,000% to $8. The platform enables users to stake their Chronoly (CRNO) tokens and generate passive income of over 18% APY. In addition, CRNO holders have a chance to win a Rolex in the platform’s monthly watch lottery.
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