Dogecoin, Bonk and Shiba Inu Combine for $25 Billion in Monthly Trading Volume

To say dog-themed cryptocurrencies are popular is a bit of an understatement—in terms of just how prevalent they’ve become ever since Tesla founder Elon Musk first tweeted about Dogecoin in 2019.

The now-owner of Twitter famously said, “Dogecoin might be my fav cryptocurrency.” Years later, hundreds of dog-themed tokens are now vying for similar attention.

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As one Reddit user recently pointed out, nearly all of the top 10 tokens under CoinGecko’s so-called meme section make some reference to man’s best friend, whether that’s coins like Dogelon Mars or Doge Killer.

While Dogecoin and Shiba Inu are undoubtedly leaders in this category, the recent rise and fall of Solana-based Bonk Inu (BONK) has captivated many crypto traders, accompanied by a line of BONK NFTs and kicking off a surge in the price of Solana itself.

Even though BONK launched on Dec. 25, the three tokens—DOGE, SHIB, and BONK—have accounted for around $25.6 billion in trading volume over the past month, according to data from CoinGecko. By comparison, Bitcoin has accounted for $618.7 billion worth of trading volume.

For the time being, Dogecoin remains the top dog among a cadre of canine-themed coins, with $17.5 billion in trading volume over the past month compared to $7.2 billion for Shiba Inu and $885 million for BONK since launch.

It’s hard to say whether any meme token will ever come close to Dogecoin’s meteoric rise of reaching 73 cents, a price it achieved in May of 2021 just before Musk made an appearance on the comedic television show Saturday Night Live, where he called the coin a “hustle,” and Dogecoin then plummeted 20% in a single hour. 

Dogecoin and Shiba Inu are currently down upwards of 86% from their all-time highs, and Bonk Inu is already 76% below its highest price of $0.00000487, set just 14 days ago.

Yet, many tokens out there seek to emulate Dogecoin by leaning…