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?
Many of the altcoins are depreciating and disappearing, many simply fell heavily in value. The fact that Bitcoin's dominance is growing in the market is a sign of an early bull run I think. If you look at the history of the market, then great growth began with this. I think this is a good signal for bulls.