In recent days, Bonk (BONK), the largest meme coin based on Solana, continues its impressive rally following listings on various exchanges. The altcoin received a critical FOMO warning from the on-chain data platform Santiment after it was listed on Coinbase and today on Binance.
BONK is now preparing to take its place on the Binance exchange after demonstrating a twenty-fold increase in the past month. Despite the continuously rising altcoin price, supported by a significant surge in Solana (SOL) and thanks to the Coinbase listing, Santiment issued a FOMO warning.
Santiment stated, “The market value of the most popular meme coin BONK increased by 116% in just the past day, thanks to the Coinbase listing. BONK has risen from 69th to 43rd place in the list of the largest cryptocurrencies in the last 12 hours. If you are about to get caught up in this situation, be cautious of the overly excited crowd of investors.”
FOMO, or the fear of missing out on an investment opportunity, is defined in financial markets as the anxiety of not being able to keep up with the gains of others. Investors experience the fear of missing out on a rapidly rising asset or investment opportunity when they see market trends and the successes of other investors.
The price of BONK has shown an impressive increase of over 100% in the last 24 hours. The altcoin, which briefly surpassed the $0.00003 mark, is currently experiencing a slight pullback, trading at $0.00002968. Meanwhile, BONK’s trading volume continues to rise along with its price. With the latest figures, the altcoin’s trading volume has increased by 278.2% in the last 24 hours, reaching nearly 1 billion dollars, currently standing at 999.77 million dollars.