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There is renewed interest in the broader digital currency ecosystem as capital influx has shifted the trend for Tron (TRX) and other assets. As it stands, Tron is now experiencing a major price rebound, per market data that can help it flip Dogecoin (DOGE) if sustained. The rivalry among altcoins in the top 10 by market capitalization is growing, with TRX and DOGE in the spotlight.
Tron and Dogecoin: Possible winner
At press time, the price of Tron was $0.2358, up 4.39% in 24 hours. With this valuation, the coin boasts a market capitalization of $22.32 billion.
Godfrey BenjaminOn the other hand, Dogecoin’s market cap comes in at $22.47 billion. This stems from a DOGE price of $0.1514, accompanied by 8.37% in 24 hours.
According to the current outlook, Tron needs only about $150,000,000 in value to replace Dogecoin as the ninth-largest digital currency. Historically, Tron has been known to have outshone meme coins recently, making its push to dethrone DOGE more likely.
Per an earlier U.Today report, Tron once flipped Shiba Inu, as it charted a rapid rally from 12th place to enter the top 10. Although market instability remains visible, Tron’s ecosystem is growing with the demand to fuel its embrace.
Tron ecosystem advances
Tron is one of the most versatile blockchain protocols on the market today. While it trails behind Ethereum regarding DeFi Total Value Locked (TVL), the protocol remains the biggest hub for Tether (USDT) stablecoin.
Tomiwabold OlajideBeyond USDT, Tron’s USDD recently hit a massive milestone in staking volume, a sign of intense adoption of solutions hosted on the protocol. Tron Founder Justin Sun also pushes for more meme coin representation for the proof-of-stake (PoS) chain.
Per projections, Tron may be next in line for a spot ETF application, which will push it to be on par with its biggest rival, Ethereum.
Vladislav Sopov
Dan Burgin