Why Real-World Utility Tokens Are Taking the Meme Coin Community According to Chronoly
PRESS RELEASE. The recent cryptocurrency market crash has shaken the trust of investors in several crypto projects. Investors are prompted to rethink and reevaluate the fundamental aim of digital currencies they have invested in. In fact, the crash has proved to be more severe for cryptocurrency enthusiasts who put their money in meme coins like Dogecoin (DOGE) and Shibu Inu (SHIB), which have lost their market cap by over 50% recently.
However, it is notable that while investors have become skeptical of some cryptocurrencies, they are now more than willing to invest in tokens that have proved worthy in these challenging times. Investors have been switching their sides from the meme coins to real-world utility tokens like Chronoly.io, which has not only stood firm but has also been growing at a fast pace.
Chronoly.io has performed exceptionally well during its pre-sale and is up by 560% since its launch. Besides, several analysts have predicted that the Chronoly.io native token CRNO could rise by another 2,500% in the coming months.
So, why are meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) losing their ground to Chronoly.io? Why has Chronoly been successful in gaining a massive number of investors during these trying times as well?
Dogecoin and Shiba Inu do not have any tangible utility
Meme coins like Dogecoin and Shiba Inu are associated with only pranks and jokes, and are not backed by real-world assets or any legitimate digital products. Their value and stability depend on virtual conditions, especially speculation. Hence, if the hype around them subsides, their value is bound to nosedive in the absence of any real-world backing. Thus, Dogecoin’s DOGE has fallen over 80% from its all-time high (ATH) value registered in May 2021, while Shiba Inu’s SHIB is below 65% from its ATH in the last few months.
Since they do not have any practical utility, Dogecoin and Shiba Inu entail significant financial risks. Moreover, many investors do not hold their investment in these cryptos for long because Dogecoin and Shiba Inu do not have any practical use. This is the main reason why Dogecoin and Shiba Inu have been losing their ground and holders to crypto projects like Chronoly.io.
Chronoly.io works on trust-based utility-backed process
Chronoly.io has emerged as a shining star in the cryptocurrency market during a time when most digital tokens are finding it hard to survive. Chronoly.io is the world’s first blockchain-based marketplace where users can trade fractional NFTs in luxury watches, which are backed by the real physical version of the watch which is stored and insured in a depositary vault. However, the most significant characteristic of Chronoly.io is that it addresses the trust issue that most other cryptocurrencies, especially the meme coins, are plagued with.
Unlike Dogecoin and Shiba Inu, Chronoly’s CRNO token has tangible utility. Chronoly.io mints NFTs that are backed by real-world physical luxury watches, like Rolex and Richard Mille, which are stored in vaults across the globe. Investors, through Chronoly.io, can purchase a fractional part of a luxury watch for as much as $10. They can also purchase 100% of the watch NFTs and redeem them to acquire the physical piece. Chronoly.io also shares all the data with its users to eliminate risks of fraud and counterfeiting. This kind of utility-backed transparent process strengthens investors’ sentiments.
Why investors could start switching from Dogecoin and Shiba Inu
As Dogecoin and Shiba Inu function only on the premises of speculation and hype, investors remain in a state of uncertainty for their investment and return. On the other hand, Chronoly.io offers different forms of real-world use, providing investors with a sense of security, stability, and transparency.
With Chronoly.io, investors feel assured that the value of their digital asset can only increase or decrease inline with the value of the real-world watch. Therefore, investors are leaving meme coin projects like Dogecoin and Shiba Inu, and investing money into a more stable, convincing, and transparent projects.
Over the last 7 days Dogecoin and Shiba Inu are up just over 4.5%, Chronoly.io which started its presale in May is up 560% and trading at $0.066. Will we see Shiba Inu and Dogecoin post double digit daily gains like last year again? Well, this remains to be seen.
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