Do you think it's still the king if the value of ETH today is Ethereum (ETH) $209.42 (
+11.27%).
Do you want me to teach ya' guys?
ICO means Initial Coin Offering where developers get investors to their project. If you're saying that Ethereum is the king of ICO, how many times did Ethereum have an ICO to be proclaimed as a King of
ICO?

Should we say, Ethereum is the
king of altcoins?

Please study about the difference of ICO and ALTCOINS.
Regarding about the topic (Assuming that it's King of Altcoins), Ethereum is very low now and I don't think that he can be the king. But I think it's normal that Kings also have some illness and the Queens will take over the rule power, It's the Bitcoin Cash (BCH) $459.95 (
+4.93%).