- Toncoin and Dogecoin remain close in market cap rankings.
- TON and DOGE continue to take losses.
In recent weeks, Toncoin [TON] has experienced a surge in market capitalization, surpassing assets that have held top ten positions for an extended period.
This upward trajectory continues, with analysis indicating that Toncoin is closely trailing Dogecoin.
Toncoin moves close to Dogecoin
In recent weeks, Toncoin has ascended in market capitalization ranking, securing the ninth position and displacing Cardano in the process, according to data from CoinMarketCap.
Recent analysis indicates that its next contender is Dogecoin. On the 17th of April, the market capitalization of both TON and DOGE exceeded $22 billion.
However, 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.
Toncoin remains bullish as Dogecoin trends below the neutral line
If Toncoin aims to catch up with Dogecoin in market cap ranking, its current price trend may not facilitate this goal.
Analysis of TON on a daily timeframe chart showed significant downward trends in recent days, despite alignment with the broa
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Author: Adewale Olarinde
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