• Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk Inu (BONK) have collectively accounted for $25.6 billion in trading volume within the past month.
• Dogecoin saw $17.5 billion in trading volume over the past month compared to SHIB’s $7.2 billion.
• Bonk Inu’s roller-coaster price trajectory has also inspired a non-fungible token (NFT) collection and induced a Solana price surge.
Dogecoin, Shiba Inu and Bonk Inu have proven to be some of the top canine-inspired tokens on the market, with their collective trading volume reaching an impressive $25.6 billion in the last month. The leader of the pack, Dogecoin (DOGE), had a total trading volume of $17.5 billion, followed by Shiba Inu (SHIB) at $7.2 billion and Bonk Inu (BONK) with $885 million.
Bonk Inu, the newest token on the block, has seen a roller-coaster price trajectory since its launch on December 25th and has been the inspiration for a Non-Fungible Token (NFT) collection. The hype surrounding Bonk Inu has also led to a surge in the price of Solana, the blockchain network on which it is based.
Dogecoin has been a long-time favorite among crypto enthusiasts, with the meme-inspired token reaching an all-time high of $0.73 USD in May 2021. It has also become a popular payment method among merchants, with some companies even donating portions of their profits to charity.
Shiba Inu, a token that was created to compete with Dogecoin, has had a more volatile price history, reaching an all-time high of $0.000049 USD in May 2021 before quickly dropping back down to $0.000003 USD. Despite this, the token has still been able to retain some of its popularity and has seen a steady increase in trading volume.
The success of these canine-inspired tokens has resulted in a huge increase in monthly trading volume and has highlighted the potential of crypto assets as viable investments. Although Dogecoin is still the leader of the pack, Shiba Inu and Bonk Inu have made it clear that they are here to stay. With an ever-growing number of tokens and projects entering the crypto market, it is likely that we will see further success stories like these in the future.