I just did that to my toe last month. I just taped it and kept training, I didn't even bother with ice or anything. Last weekend at the TD I popped my right ring finger out of joint at the second knuckle. That is an entirely different matter, it looked like Barney the Dinosaur's joint on Monday morning.
P.R.I.C.E = Protection, rest, ice, compression, elevation.
Originally Posted by 2groggy
you have the right idea.. do what you can and protect it until it's fully healed. If your toe can handle it, maybe use this time to work specifically on your boxing. (Though a lot of it imo doesn't quite carry over to MT perfectly, it should help)