With every new token circulating in the market, they should add up some value and have their own share of total dominance by price.
But for some years, we are having an increasing number of new coins and tokens being traded but still bitcoin is increasing it's dominance.
According to coinmarketcap, bitcoin now holds a 42% dominance. i.e. the 42% of total capitalization of cryptocurrencies is that of bitcoin.
How is it possible? Are altcoins failing?
I do not see any coins capable of surpassing the value of Bitcoin in the future, but altcoin remains to be taken into account. Altcoins such as Ethereum, Litecoin, Bitcoincash, NEO, are able to behave like dollars, meaning Altcoins shows progress and not fail, even if it seems that Bitcoin is still very strong today. This competition will make all the coins to be constantly innovating.