Right now, if you own a Saga phone, the free BONK tokens you get are worth $877. So, for a little while, it’s like having a “phone that pays for itself.”
Lots of people wanting meme coins are buying Solana’s crypto phone because the price of the Solana memecoin Bonk (BONK) went up a lot—more than 1,100% in the last 30 days.
Solana Phone Sales Surge Amid Memecoin Boom
Since its launch on May 8 this year, the Solana phone has allowed new owners to claim a free 30 million airdrop of the memecoin. However, a recent spike in the token’s price has created an interesting opportunity for buyers.
Solana co-founder Raj Gokal revealed in a December 15 post on X (formerly Twitter) that Solana phone sales have surged more than 10 times in the past 48 hours and are on track to sell out before the new year.
lol. just so everyone is aware, @solanamobile saga sales have >10x'd in the past 48 hours, and are now on track to sell out before the new year.https://t.co/SzKht4DTYL
— raj 🖤 (@rajgokal) December 14, 2023
With the current prices, the 30 million BONK airdrop is valued at an astonishing $877—$278 more than the Saga phone’s current $599 price tag. This unexpected price dynamic has created a unique arbitrage opportunity for crypto enthusiasts.
Bonk, the memecoin associated with the Solana phone, has experienced an extraordinary gain of 1,100% in the last 30 days, surpassing the market cap of competitor memecoin Pepe. The volatile nature of memecoins is well-known, and Bonk’s recent performance reflects this trend.
The remarkable uptick in Solana phone sales has been so significant that Solana co-founder Anatoly Yakavenko has suggested reconsidering the Saga’s price, which was reduced from $999 to $599 in August due to dwindling sales.
Within the past 48 hours, total Saga sales have surpassed “millions of dollars worth,” making it a noteworthy phenomenon in the Solana community. The spokesperson expressed enthusiasm, noting how Solana community projects have turned Saga into the “phone that pays for itself.”
Solana Mobile Imposes Order Limit After Sales Frenzy
In response to a surge in buying activity, Solana Mobile has announced a new restriction, limiting all future orders to one mobile device per household. This move comes on the heels of a sales frenzy that signifies a significant turnaround for the historically struggling device.
We’re here to share the Saga experience with everyone. In light of the overwhelming response, we're limiting Saga purchases to one per household. This ensures that more of our community can enjoy the Saga 📱
See you all in the discord!
— Solana Mobile 2️⃣ (@solanamobile) December 15, 2023
The sales surge, considered a pivotal moment for the device, follows Solana co-founder Anatoly Yakovenko’s appearance on Laura Shin’s Unchained Podcast on December 5. During the podcast, Yakovenko discussed the underwhelming performance of the Saga phone and expressed skepticism about its potential to reach a total sales volume of 50,000 units.
Yakovenko admitted to not using his Solana Saga as his primary mobile device, opting instead to use it as his “NFT phone.”
The trade opportunity tied to the recent sales boom hinges on the assumption that BONK will maintain its current trading levels or higher when the Solana device reaches users. However, the inherent volatility of memecoins adds an element of uncertainty, making future developments unpredictable.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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