• Dogecoin, Shiba Inu, and Bonk Inu recently combined for $25 billion in monthly trading volume.
• Dogecoin accounted for $17.5 billion of the total trading volume, while Shiba Inu and Bonk Inu each accounted for $7.2 billion and $885 million respectively.
• Bonk Inu has also inspired a non-fungible token (NFT) collection and induced a Solana price surge.
Dogecoin, Shiba Inu, and Bonk Inu have recently seen a surge in trading volume over the past month, combining for $25.6 billion in trading activity. This is a significant increase compared to the leading cryptocurrency Bitcoin, which only saw $618.7 billion in trading volume in the same period.
Dogecoin (DOGE) was the clear leader in this canine-themed token group, accounting for a whopping $17.5 billion in trading volume. This was followed by Shiba Inu (SHIB), which saw $7.2 billion in trading volume, and Bonk Inu (BONK), which notched $885 million since its December 25th launch. While BONK is the least-known of the trio, its roller-coaster price trajectory has also inspired a non-fungible token (NFT) collection and induced a Solana price surge.
Despite Dogecoin’s massive popularity, it still has a long way to go to catch up to Bitcoin. However, the recent surge in trading volume for these canine-inspired tokens shows that the digital currency market is still growing and expanding, with more investors looking to diversify their portfolios. As the market continues to evolve, it will be interesting to see how these tokens continue to develop and if they can ever compete with Bitcoin in terms of trading volume.