Following Tuesday 13th September’s inflation reading, the crypto markets, alongside traditional markets, have been under pressure as many tokens saw 20% losses in the days following the release and have since struggled to rise bullishly. Two such tokens are Dogecoin (DOGE) and Flow (FLOW), which keep falling since their highs in mid-August.
Meanwhile, one token called Chronoly.io (CRNO) has kept rising – in fact, it’s up 690% since May. Today, we’re going to look at the price action in DOGE and FLOW, before examining what has caused CRNO’s epic rise.
Dogecoin (DOGE) investors are licking their wounds
Compared to what some Dogecoin (DOGE) investors had expected in 2021, 2022 has been a bad year for the top meme token: it’s down -67% just from the start of 2022. After a speculative rise on the 14th of August from $0.074, DOGE grew nearly 25% and made an ugly peak at $0.091. It then tumbled and has since been in a strong downtrend.
DOGE has fallen to just $0.06 on the 18th of September – a -34.5% decline in just over a month. With recent lows being broken and only June’s lows of $0.05 standing in the way of a drop down to $0.035, it would be wise to stay out of DOGE for the time being.
Flow (FLOW) looks to continue downstream
Flow is a platform for developers to build games and apps upon focusing on digital assets such as NFTs. With NFT fever dying down, FLOW has struggled, although it has outperformed DOGE. Since its launch on July 2021, FLOW has been on a downtrend that hasn’t yet let up, falling nearly -97% from $38.5 at launch to just $1.22 nearly a year later.
FLOW also saw a dramatic rise in August, climbing 75% in just a week – before crashing back down below its August low. Since then, FLOW has seen pushes upwards, but this has been quickly met with more bearishness. Now, it’s looking like FLOW will break its late-August low of $1.67 in the coming days.
Chronoly.io (CRNO) is selling out fast
Despite the broader crypto bearishness, Chronoly.io (CRNO) has been outperforming the vast majority of the market. Chronoly.io (CRNO) is a decentralized marketplace for trading shares of luxury watches that has seen massive investment in its token CRNO. Nearly 225m tokens have been sold already in presale, with the cap set at 300m.
But why is Chronoly.io (CRNO) so popular? It comes down to their incredible innovation in the luxury watch industry. Chronoly.io (CRNO) has minted fractionalized NFTs that allow anyone to invest in luxury timepieces from brands like Rolex, Patek Phillipe, and Richard Mille for just $10. They keep custody of the physical watches in their secure bank vaults across the globe.
Because of this exceptional use case, CRNO has grown from $0.01 to $0.079 since May, representing 690% gains for those early investors – no losses here! Presale finishes at the end of September, where crypto analysts are making predictions for CRNO to reach $1 when it goes on sale to the general public.
If you’re looking for a place to put your money that could offer 1000%+ gains before the year finishes, then you should seriously consider CRNO as one of the leading tokens of 2022 and 2023.
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
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