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These 2 Altcoins Are Threatening To Kick Dogecoin Out Of The Top 10

Press Releases Crypto News Bitcoinist These 2 Altcoins Are Threatening To Kick Dogecoin Out Of The Top 10

Dogecoin has been able to stay in the top 10 cryptocurrencies by market cap after its impressive rally spurred by billionaire Elon Musk in 2021. However, the meme coin has been having a tough go at it after a drawn-out bear market triggered a 90% price decline. As a result of this, DOGE’s market cap has fallen drastically, now putting it at risk of losing its position in the top 10 cryptocurrencies.

Tron (TRX) And Chainlink (LINK) Crop Up Behind Dogecoin

The Dogecoin price, having fallen below $0.08 once again, has seen its market cap drop to around $11.2 billion. With the market cap this low, the meme coin only has a tentative hold on its 10th position on the list of largest cryptocurrencies by market cap.

Other altcoins such as Tron and Chainlink have had a better go at it, with their native tokens, TRX and LINK doing incredibly well over the last year. Even in the last week alone, while the price of DOGE has suffered 1.5% losses, these two altcoins have seen double-digit gains that have sent their market caps soaring.

Tron (TRX), on the one hand, is up more than 10% in the last week and is seeing 3.55% gains in the last 24 hours. These gains have brought its market cap above $10.9 billion, putting it dangerously close to Dogecoin’s $11.2 billion market cap. This accounts for only a $300 million difference, and even a 5% from TRX from this level will put the altcoin in front of Dogecoin.

In the same vein, Chainlink’s LINK has also had a bullish week after rising more than 16% in the 7-day period. Despite being down 3.29% in the last day, its market cap is still incredibly high at $10.8 billion, putting it only $400 million away from reaching Dogecoin’s market cap. And like TRX, a 5% move from here would see LINK overtake DOGE in terms of market cap, just like it did two days earlier.