Is Shiba Inu (SHIB) Dead? Explosive Rally Crashes to Earth While Chronoly.io (CRNO) Tokens Surge 560%

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As meme tokens are climbing again, some experts are pointing to Shiba Inu’s (SHIB) rally as a sign that speculative investors are flooding into tokens hoping for quick and easy gains: a sign that investors are becoming greedy, even in the bear market of 2022. 

Following the latest fall in Shiba Inu’s (SHIB) price, we’re going to look at the dramatic decline amid broader crypto bearishness before looking at one utility token that’s going from strength to strength recently: Chronoly.io (CRNO).

Shiba Inu (SHIB) spawned as a spin-off from the original meme token, Dogecoin (DOGE). Like Dogecoin, it doesn’t really offer anything different from the hundreds of serious competitors in the crypto market. 

Because of this lack of real value, meme tokens are seen as purely speculative, and their rallies represent how frothy crypto market investors are becoming. 

Huge volatility was seen in the latest rally of Shiba Inu (SHIB), which followed along in an uptrend alongside the rest of the crypto market. On the 14th of August, Shiba Inu (SHIB) broke out from USD0.0000126 to hit a high of USD 0.000018 on the same day, a 40%+ increase in just a few hours. But, as the rest of the market declined, this rally came tumbling back down right to its origin just five days later.

Now analysts are wondering whether this was just a liquidity grab by big sellers to take prices lower as expectations for the broader crypto market weaken. Only time will tell if buyers of this rally will be burnt further as the market declines.

There’s one token that many traders have been eyeing for its fantastic gains over the past couple of months. While other tokens