Solana Saga Phones Hit $5K in Bonk Frenzy Sell-Out

The Solana Saga phone has gone “SOLD OUT” on its official website due to a surge in demand driven by the free Bonk memecoin airdrop. Phones resold on eBay for as much as $5,000, over eight times their original retail price.

From the Dec 16 listing on the marketplace, eBay claims buyers purchased two unopened Saga phones for $5,000 each. Another Saga phone fetched $3,316. Over the weekend, 20 more devices were sold for over $2,000. This marked a significant markup from the original $599 price on the Solana Mobile website.

A realization sparked the surge in demand. The 30 million Bonk (BONK) token airdrop, bundled with each Saga phone since its May 8 launch, had become more valuable than the device itself. As of Dec 16, this led to the declaration of the phone as ‘SOLD OUT.’

These buyers are betting on the future appreciation of Bonk, a memecoin that has already increased 80 folds in value over just one month. But to make a quick profit from price tags of $5,000, buyers have an uphill battle; at current prices, they must see Bonk rise by 62 times. There will be 10.8 million users, and the total market cap will reach $8.68 billion as a result of this growth in memberships.

Saga Phone Resale Boom: Airdrops & Mining Frenzy

Some might be looking at additional incentives, as Solana-based projects such as the programmable lending pool solend and comic currency Samoyed Coin have announced airdrops for Saga phone owners. What’s in Store? Solend founder confirms an upcoming airdrop; meanwhile, Samoyed Coin says more details will come soon.

Furthermore, decentralized storage provider GenesysGo previously announced that Saga phone users could mine its native Shadow (SHDW) token through an application. With the Bonk frenzy and other project incentives, the Saga phone resale market has become a focal point. It attracts crypto enthusiasts and opportunistic traders alike.

Related Reading | Coinbase Conflict: SEC Chairman’s Crypto Flip-Flop Challenged

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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