Dogecoin (DOGE) and Tron (TRX) are vying for a place in the top 8 cryptocurrencies. While both saw price drops in the past 24 hours, they are currently closely matched in market capitalization. 🧐 This dynamic raises an interesting question: Could Tron overtake Dogecoin? 🤔
**Market Headwinds and Momentum**
– Currently, DOGE trades for $0.1668, down -2.23% over the past day (per CoinMarketcap). Its current market cap sits at $24.8 billion.
– TRX is trading at $0.24, also down -2% in the last 24 hours, with a market capitalization of $23.2 billion. This difference is only $1.6 million.
**Potential for Shift** If positive investor sentiment continues to build, TRX could overtake DOGE in the coming days. The crypto space is known for its frequent positional shifts as market trends change rapidly.
**Lower Trading Volume for Tron** While Tron’s market activity remains low (down 11.7% with trading volume of $430 million), Dogecoin’s trading volume has increased significantly (up 6.5% to over $752 million).
**Optimistic Outlook for TRX** Several factors might contribute to Tron’s market capitalization growth:
– **New Partnership**: The addition of P2P.org as a super representative validator to the Tron ecosystem adds credibility and trust.
– **Tron ETF Progress:** The growing push for a Tron ETF product has excited many investors.
– **Strong TRX Holder Position** A significant number of TRX holders are currently in profit (according to IntoTheBlock), which could potentially influence its long-term valuation.
**Source:** Read the full article on UToday.