Shiba

Cardano

Dogecoin

Shiba Inu

Elon Musk

<a href="https://bitcoinist.com/cardano-addresses-in-loss-barrels-past-57-amid-market-crash/">Cardano has been struggling in the market</a> over the last few weeks, completely erasing its gains from March. This continuous decline has put the digital asset in a perilous position as it has dropped drastically on the list of the top 10 cryptocurrencies by market cap. 
<h2 class="p2" id="cardano-bows-out-to-toncoin-and-dogecoin">Cardano Bows Out To Toncoin And Dogecoin</h2> 
The first negative headwinds for Cardano began to blow when <a href="https://bitcoinist.com/toncoin-wif-dogecoin-shiba-inu/">Toncoin</a>, a cryptocurrency enjoy serious backing from Telegram, began to rise. As the Toncoin price rose, so did its market cap and in not time it was on its way to knocking a number of assets from their positions. 
After beating Dogecoin, the Toncoin price continued to rise, reaching over $7. At this time, its market cap had jumped above $20 billion. This <a href="https://bitcoinist.com/toncoin-flips-cardano-dogecoin/">quickly placed it ahead of Cardano</a>&nbsp;and then <a href="https://bitcoinist.com/crypto-analyst-dogecoin-xrp/">Dogecoin</a> as it enjoyed a massive rally. 
Next up was Dogecoin coming for Cardano’s spot on the top 10 list. Dogecoin began to see more upside as <a href="https://bitcoinist.com/elon-musk-buying-dogecoin/">Elon Musk</a> tweeted about the meme coin once again. Dogecoin’s price rose above $0.2 before being rejected at this level. However, it continues to trend high, maintaining most of its gains from March, and its market cap above $20 billion. 
Cardano, on the other hand, has suffered crash after crash, bringing its price back down to $0.46. At its current price, its market cap is sitting at approximately $16.5 billion, putting it well below the likes of <a href="https://bitcoinist.com/hashkey-ton-foundation-toncoin-telegram/">Toncoin</a> and Dogecoin. 
<h2 class="p2" id="shiba-inu-wants-10th-spot">Shiba Inu Wants 10th Spot</h2> 
Despite the market being on a recovery trend, it seems the worse is far from over for Cardano. After falling behind Dogecoin and <a href="https://bitcoinist.com/hashkey-ton-foundation-toncoin-telegram/">Toncoin</a>, Cardano is currently the 10th largest cryptocurrency in the market, down four spots from 6th about a year ago. 
This time around, the coin is seeing steep competition from Shiba Inu, which currently occupies the 11th position on the list. Currently, Cardano’s market cap is only around 30% higher than that of Shiba Inu, which sits at $13.4 billion compared to $16.5 billion for <a href="https://bitcoinist.com/cardano-emurgo-huawei-cloud-partnership/">ADA</a>. 
Now, given the positive headwinds predicted for the <a href="https://bitcoinist.com/shiba-inu-shib-price-supercycle/">Shiba Inu price</a>, it may not be long until SHIB claims the 10th spot. With the Bitcoin halving happening and <a href="https://bitcoinist.com/shiba-inu-campaign-0-00028/">Shiba Inu’s track record</a> following a halving event, the meme coin could see an over 100% increase from here. 
For Cardano to maintain its spot, it would have to rise rapidly alongside <a href="https://bitcoinist.com/shiba-inu-burn-rate-crashes-2/">SHIB</a>. However, if it fails to do so, <a href="https://bitcoinist.com/cardano-war-chest-growing-why-is-ada-dropping/">Cardano could fall out of the top 10 cryptocurrencies</a> by market cap for the first time in over three years. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/coJTZwas/" alt="Cardano price chart from Tradingview.com (Dogecoin Shiba Inu)" width="3286" height="1530">

Cardano Drops Below Dogecoin On Crypto Top 10 List, Will It Lose 10th Spot To Shiba Inu?

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