TRON (TRX), the native blockchain of the eponymous token, has just surpassed Dogecoin (DOGE) in terms of market capitalization. This unexpected shift reflects a profound evolution in the crypto landscape, especially in France, where investors are increasingly focused on the real-world utility of digital assets.
As of June 29, 2025, TRON displays a market capitalization exceeding $26 billion, compared to $24.6 billion for Dogecoin. This shift isn’t the result of a spectacular bull rally, but reflects growing interest in high-utility blockchains, particularly within the stablecoin ecosystem.
TRON has become essential for stablecoin transfers, particularly for Tether (USDT), the leading stablecoin in circulation. More than 50% of the global USDT supply—over $80 billion—is issued on the TRON blockchain.
This preference stems from near-zero transaction fees, faster confirmation speeds than Ethereum or Bitcoin, and increasing adoption by exchange platforms, especially in Asia.
In comparison, Dogecoin maintains a powerful community base and high-profile media support, but struggles to justify its valuation in terms of practical usage. The project remains essentially a “memecoin,” more speculative or recreational than based on genuine technological utility.
While TRON establishes itself as a stablecoin-friendly payment infrastructure, Dogecoin suffers from a lack of robust use cases and market saturation in the memecoin sector, particularly with the emergence of new tokens like PEPE or BONK.
The position reversal between TRON (TRX) and Dogecoin (DOGE) perhaps marks the beginning of a paradigm shift, where utility value clearly takes precedence over hype. Projects focused on stablecoin infrastructure, like TRON, are gaining ground while purely speculative tokens, such as memecoins, are retreating.
In conclusion, TRON overtaking Dogecoin in the global top 10 cryptocurrencies isn’t just a numerical change : it’s a strategic validation of the utility-centered approach. For experienced crypto investors, this shift highlights the importance of prioritizing assets offering real integration with digital financial systems in the coming months.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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