A lot of people put their money into cryptocurrencies like Dogecoin (DOGE) and Shiba Inu with the expectation that they will make a lot of money quickly (SHIB). Unfortunately for many, they did not buy in early enough and hence did not benefit from the meteoric gains. Due to the decline in value of the coins over the course of the past year, many of them will now be stuck at extremely high values. Investors may consider taking a look at Chronoly, as it is one of the most recent initiatives to hit the market (CRNO).
Chronoly (CRNO) is a company that specializes in tokenizing rare and exclusive timepieces made by well-known watchmakers all over the world, such as Rolex and Patek Phillipe. In order to capitalize on an increase in the price of the underlying watch, investors are able to buy, sell, and exchange percentage holdings in the timepieces. The investment is made in newly minted NFTs with a special serial number, and the project is keeping the precise timepiece in a safe depositary.
Because of this, the Chronoly (CRNO) token increased in value by more than 400 percent over the course of the past week, and some analysts anticipate even greater growth in the weeks to come.
The value of Dogecoin (DOGE), which has been struggling over the last month, dropped by around 40 percent as the value of Bitcoin (BTC) and LUNA also dropped, which caused the overall cryptocurrency market to be weighed down. In addition, Dogecoin has been experiencing headwinds due to the failure of Elon Musk's acquisition of Twitter. There was talk that Musk might employ the meme coin in a redesigned ecosystem that he was working on, but it appears that this won't happen anytime soon.
Dogecoin (DOGE) had yet another price increase, which was driven by the announcement made by the founder of Tesla that SpaceX will accept the token as payment for items. Nevertheless, these advancements are only temporary in nature.
During the past month, the value of Shiba Inu (SHIB) decreased, just like it did for Dogecoin (DOGE), as investors lost interest in risky assets due to the bear market.
The founder of Shiba Inu (SHIB), who had just vanished from social media, added to the confusion among investors. However, Ryoshi's reappearance on social media aroused excitement in the Shiba Inu (SHIB) community when he removed all of his earlier blog posts and tweets. This caused the community to speculate about his whereabouts. The price action of the meme coin in the future does not look promising based on the indications provided by that.
According to the findings of some researchers, Chronoly (CRNO) has the potential to reward investors in the same manner as the meme coins, despite the fact that the coin truly has value in the real world.
One of the things that gives this initiative its underlying worth is the opportunity to make investments in timeless watches that have already demonstrated their value as an asset. In order for the project to achieve gains, it is not necessary to rely on cryptic and optimistic tweets; this can and will be accomplished with the attention of investors.
Another factor that could propel future gains for Chronoly (CRNO) is the fact that many traditional investors are reluctant to test the waters with digital assets. However, they may be enticed by the opportunity to hold stakes in tangible physical assets, which are available to own through a digital process that is streamlined. In the current climate for making investments, holders are more concerned with security than they are with taking risks. In this situation, an asset-backed digital coin can deliver benefits that are desirable in both contexts. After the most recent cryptocurrency bear market, investors are seeking for something tangible rather than the excitement generated by social media, and Chronoly (CRNO) will undoubtedly attract the attention of many of these investors.
The presale of the project has just moved into its second phase, and as a result, the price has increased from $0.05 to $0.01 per token. Once CRNO is officially released, analysts predict a five thousand percent increase in value; therefore, investors should act quickly and avoid being late.