Not Shiba Inu (SHIB), But Chronoly (CRNO) can Jump 10000%
It takes substance, and not just hype, for an asset to do real wonders in the financial world. Many crypto investors have learnt this simple lesson in a harsh way this year. As the market plummeted, several high-flying crypto tokens of 2021 crashed to record lows. Shiba Inu (SHIB) is one such token, which has seen a massive change in fortune in less than a year. Interestingly, a new altcoin, Chronoly (CRNO), which was launched on Uniswap Exchange on October 6, 2022, has defied the dominant negative trend in the market, rising 690% during the presale stage. Analysts are now predicting that the CRNO token can jump over 10,000% from the launch price of $0.079 to $8. In this article, we take a look at what is driving analysts to make such astronomical predictions for CRNO tokens and how SHIB is performing.
Shiba Inu (SHIB) struggles to cross over the Red line
Shiba Inu has been trading in the red continuously, since May 2022. On some occasions, it did record minor gains but they were not enough to bring any substantial joy to investors.
The fall of the Shiba Inu (SHIB) has been dramatic. SHIB token had touched all-time highs (ATH) of $0.00008845 on October 28, 2021. SHIB is currently trading 87.2% below the ATH at $0.00001126, according to CoinMarketCap data. Interestingly, SHIB traded in the green on most days starting from January 2022 till the end of April but its price fell considerably over the past four months.
In the crypto frenzy of 2021, Dog-themed cryptocurrency, Shiba Inu (SHIB), was believed to be the next big thing. Dirt-cheap prices and massive speculations drove many investors towards this memecoin. However, the vulnerability of SHIB tokens was exposed when crypto markets started feeling the heat of uncertainties in global financial meltdown starting from May 2022. As the crypto market crashed, SHIB investors started dumping their holdings, causing rapid fall in the price of the token.
The biggest limitation of Shiba Inu is the lack of any fundamental value. There is no real asset backing SHIB tokens. The only backing Shiba Inu ever enjoyed was the massive hype around dog-themed coins.
The creators of Shiba Inu marketed SHIB tokens as the ‘Dogecoin Killer,’ which resonated well with late adopters who had missed the opportunity of making money from Dogecoin. The developers have also tried to create an ecosystem around SHIB token with Shibaswap exchange, Shiboshis NFTs and a pack of tokens such as LEASH and BONE.
Why analysts are bullish on Chronoly (CRNO)
Long term potential of Chronoly (CRNO) is attracting investors in the ongoing crypto winter. Analysts are bullish about CRNO as it is the utility token of a unique 24/7 watch investment platform, Chronoly.io. This platform tokenizes real world luxury watches into NFTs and fractionalizes them to make watch ownership easily accessible for as little as $10. Giving more value to investors, each NFT by the Chronoly platform is backed by a real watch kept in a secured vault.
As an Ethereum-based platform, Chronoly allows users to buy, sell and invest in rare and exclusive timepieces. According to McKinsey, the luxury watch segment’s share in the global watch market is expected to grow to 64% by 2025. This has generated a lot of interest towards the CRNO utility token.
During the presale, investors grabbed all the tokens on offer. Heavy demand pushed the price of the token by 690% towards the end of the presale. It is expected that the CRNO token would soon reach $3 and it has the potential to surge by over 10,000% to $8. The platform allows investors to earn over 18% APY as passive income by staking their Chronoly (CRNO) tokens. Besides, CRNO holders also stand a chance to win a Rolex in the monthly watch lottery drawn by the platform.
For more information about Chronoly.io
Website: https://chronoly.io/
Telegram: https://linktr.ee/chronolyio
Twitter: https://twitter.com/Chronolyio
The post Not Shiba Inu (SHIB), But Chronoly (CRNO) can Jump 10000% appeared first on Analytics Insight.
It takes substance, and not just hype, for an asset to do real wonders in the financial world. Many crypto investors have learnt this simple lesson in a harsh way this year. As the market plummeted, several high-flying crypto tokens of 2021 crashed to record lows. Shiba Inu (SHIB) is one such token, which has seen a massive change in fortune in less than a year. Interestingly, a new altcoin, Chronoly (CRNO), which was launched on Uniswap Exchange on October 6, 2022, has defied the dominant negative trend in the market, rising 690% during the presale stage. Analysts are now predicting that the CRNO token can jump over 10,000% from the launch price of $0.079 to $8. In this article, we take a look at what is driving analysts to make such astronomical predictions for CRNO tokens and how SHIB is performing.
Shiba Inu (SHIB) struggles to cross over the Red line
Shiba Inu has been trading in the red continuously, since May 2022. On some occasions, it did record minor gains but they were not enough to bring any substantial joy to investors.
The fall of the Shiba Inu (SHIB) has been dramatic. SHIB token had touched all-time highs (ATH) of $0.00008845 on October 28, 2021. SHIB is currently trading 87.2% below the ATH at $0.00001126, according to CoinMarketCap data. Interestingly, SHIB traded in the green on most days starting from January 2022 till the end of April but its price fell considerably over the past four months.
In the crypto frenzy of 2021, Dog-themed cryptocurrency, Shiba Inu (SHIB), was believed to be the next big thing. Dirt-cheap prices and massive speculations drove many investors towards this memecoin. However, the vulnerability of SHIB tokens was exposed when crypto markets started feeling the heat of uncertainties in global financial meltdown starting from May 2022. As the crypto market crashed, SHIB investors started dumping their holdings, causing rapid fall in the price of the token.
The biggest limitation of Shiba Inu is the lack of any fundamental value. There is no real asset backing SHIB tokens. The only backing Shiba Inu ever enjoyed was the massive hype around dog-themed coins.
The creators of Shiba Inu marketed SHIB tokens as the ‘Dogecoin Killer,’ which resonated well with late adopters who had missed the opportunity of making money from Dogecoin. The developers have also tried to create an ecosystem around SHIB token with Shibaswap exchange, Shiboshis NFTs and a pack of tokens such as LEASH and BONE.
Why analysts are bullish on Chronoly (CRNO)
Long term potential of Chronoly (CRNO) is attracting investors in the ongoing crypto winter. Analysts are bullish about CRNO as it is the utility token of a unique 24/7 watch investment platform, Chronoly.io. This platform tokenizes real world luxury watches into NFTs and fractionalizes them to make watch ownership easily accessible for as little as $10. Giving more value to investors, each NFT by the Chronoly platform is backed by a real watch kept in a secured vault.
As an Ethereum-based platform, Chronoly allows users to buy, sell and invest in rare and exclusive timepieces. According to McKinsey, the luxury watch segment’s share in the global watch market is expected to grow to 64% by 2025. This has generated a lot of interest towards the CRNO utility token.
During the presale, investors grabbed all the tokens on offer. Heavy demand pushed the price of the token by 690% towards the end of the presale. It is expected that the CRNO token would soon reach $3 and it has the potential to surge by over 10,000% to $8. The platform allows investors to earn over 18% APY as passive income by staking their Chronoly (CRNO) tokens. Besides, CRNO holders also stand a chance to win a Rolex in the monthly watch lottery drawn by the platform.
For more information about Chronoly.io
Website: https://chronoly.io/
Telegram: https://linktr.ee/chronolyio
Twitter: https://twitter.com/Chronolyio
The post Not Shiba Inu (SHIB), But Chronoly (CRNO) can Jump 10000% appeared first on Analytics Insight.
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