The cryptocurrency market drew many investors hoping to get rich quick on coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). Unfortunately for many, they bought in too late and missed out on the explosive gains. For many, they will now be trapped at high prices as the coins have slumped over the last year. Investors should consider looking at one of the newest projects on the block, Chronoly (CRNO).
Chronoly (CRNO) specializes in the tokenization of rare and exclusive timepieces by world-renowned watchmakers such as Rolex and Patek Phillipe. Investors can buy, sell and trade percentage stakes in the watches and capitalize on price appreciation in the underlying watch. The investment is made in specially minted NFTs with the project holding the exact timepiece in a secure depositary.
That is the reason that the Chronoly (CRNO) token gained over 400% over the last week and some analysts predict more gains in the weeks ahead.
Dogecoin (DOGE) Suffers as Musk Deal Falters
Dogecoin (DOGE) has struggled over the last month with the coin losing around 40% of its value as the cryptocurrency market was weighed down by losses in Bitcoin (BTC) and LUNA. Additionally, Dogecoin has had its headwinds with the Elon Musk Twitter acquisition faltering. There was speculation that Musk would use the meme coin in a revamped ecosystem, but that may not materialize now.
Dogecoin (DOGE) also received another price bounce led by the Tesla founder’s statement that SpaceX would accept the coin for merchandise payments; however, these developments are fleeting.
Shiba Inu (SHIB) Flounders without a Bullish Market
Shiba Inu (SHIB) has suffered the same fate as Dogecoin (DOGE), with a slump in price over the last month as risky assets lost their lustre.
There was also recent confusion for investors after the founder of Shiba Inu (SHIB) disappeared from social media. However, Ryoshi sparked excitement in the Shiba Inu (SHIB) community after a reappearance on social media, which deleted all of his previous blog posts and tweets. Unfortunately, that is not a good sign for the future price action of the meme coin.
Chronoly Has Real-World Value
Chronoly (CRNO) has the potential to reward investors in the same way as the meme coins, according to some analysts, but the coin actually has real-world value.
The ability to invest in classic timepieces that have proven themselves as an investment asset provides an underlying value to this project. The project does not need to rely on mysterious and hopeful tweets in order to see gains and will do so with investor attention.
Another driver of future Chronoly (CRNO) gains could be the fact that many traditional investors are afraid to dip their toe in the water with digital assets but could be enticed by the opportunity to hold stakes in tangible physical assets, which are available to own in a streamlined digital process. In the current investment environment, holders are also more interested in safety than risk. That is where an asset-backed digital coin can provide the best of both worlds. After the latest cryptocurrency bear market, investors are looking for something tangible rather than social media hype and Chronoly (CRNO) will no doubt capture the attention of many.
The project has just entered phase 2 of its presale and the price has increased by going from $0.01 to $0.05. Analysts talk about a 5000% rise once CRNO officially releases, so be quick and don’t be late!
Website: https://chronoly.io/
Telegram: https://t.me/Chronolyio
Twitter: https://twitter.com/Chronolyio
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