Dogecoin out of the Top 10? All about TON’s race to #8

has ascended in market capitalization ranking, securing the ninth position and displacing Cardano in the process, according to data fromHowever, at the time of this writing, TON’s market cap has decreased to around $21.3 billion. In comparison, DOGE remains slightly above $22 billion.

The current dynamics suggest that TON could climb to the eighth spot in the market capitalization ranking if its price increases and DOGE’s price moves in the opposite direction.If Toncoin aims to catch up with Dogecoin in market cap ranking, its current price trend may not facilitate this goal.on a daily timeframe chart showed significant downward trends in recent days, despite alignment with the broader market trend. These trends have notably impacted its market cap.

Since the beginning of the week, TON has experienced daily declines exceeding 3%. At the time of writing, it was trading around $6.1, reflecting a decline of over 3%.Further analysis suggests that its support levels are currently around $4.7 and $4.9. Additionally, the recent declines have led to a decrease in its Relative Strength Index .Analysis indicates that Dogecoin has only experienced an over 3% decline once in the last three days, unlike TON’s consecutive declines exceeding 3%.

According to data from Santiment, the volume for DOGE was nearing $1.9 billion at the time of writing, with recent observations indicating a decline.In contrast, TON’s volume was approximately $531 million, resulting in a difference of over $500 million between the two.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations.

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