Many cryptocurrency analysts are keen on Chronoly (CRNO) and feel that its value could soon surpass the performance of meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB).
The cryptocurrency market is changing and many investors, especially those at institutional levels, are re-evaluating their previous expectations. In addition, the investment world has been turned on its head by recent geopolitical events and we have seen a flight-to-safety in markets.
For this reason, we saw the troubles at the Terra stablecoin (UST) as it lost its peg to the US dollar and led to a wipeout in the project’s LUNA coin. Investors have now been given a rude awakening about trust in the digital space and are looking for investments that have a reliable store of value.
That is why Chronoly (CRNO) is catching the market’s attention at this moment.
Dogecoin (DOGE) Slump Marks Loss of Confidence
Dogecoin (DOGE) was the hottest coin in crypto during its May 2021 surge to almost $0.80. At that time, investors were certain that the coin would build on media attention to blast through the $1.00 mark.
But the sales gimmicks and Elon Musk tweets have now run out of steam as many Dogecoin (DOGE) owners are likely trapped at higher price levels. Recent news said that Space X, obviously with ties to Mr. Musk would soon accept DOGE coins as payment for its merchandise. It was hoped that Dogecoin (DOGE) would soon be part of a Twitter tips revolution but the Musk deal has fallen through, and Dogecoin (DOGE) languishes at $0.08 per coin.
Shiba Inu (SHIB) Flounders without a Bullish Market
Shiba Inu (SHIB) also capitalized on the meme coin frenzy with an initial surge in May of 2021. The coin had a further surge higher to new highs in October of that year. It is no coincidence that these highs were also peaks in Bitcoin sentiment and cryptocurrency confidence.
Shiba Inu (SHIB) has now slumped with the downturn in market confidence over many digital forms of money, and investors are looking for more secure investments.
Chronoly (CRNO) Solves the Trust Problem
Chronoly (CRNO) has attracted investor attention because it solves the problem of trust in the digital currency space. Chronoly is a project that allows investors to take a share in rare and exclusive timepieces from world-class brands such as Rolex, Patek Philippe, and Audemars Piguet.
The watch NFTs are minted and backed by the physical version of the watch, which is fully insured and stored in depositary vaults. In this time of strife in the investment world, investors want safety, security, and value stores. These watches have proven themselves as reliable stores of value for hundreds of years and that physical backing puts a floor under the price of Chronoly with a physical book value; similar to that of stocks with underlying company assets. This is a project that could also decouple from the volatility of BTC. Chronoly (CRNO) is already making waves with a 400% gain over the last week and analysts expect further appreciation in the coming weeks as more investors become aware of the project. In addition, over 130 million tokens have been sold so far. The presale will end soon, so be quick if you want to 100x your investment!
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