The triumph of BONK Memecoin has triggered a remarkable surge in Solana Saga Phone sales.
In Brief
Raj Gokal from Solana has disclosed that the sales of the phone have surged tenfold over the last couple of days, closely tied to the rise in BONK's market value.
Sales of Solana’s crypto phone have soared in response to a price spike in the corresponding memecoin. Bonk (BONK) Over the last month, BONK's value has skyrocketed by more than 1,100%, igniting a buying frenzy among crypto enthusiasts eager to capitalize.
New owners of the Solana Customers who purchased the phone, released on May 8 of this year, were entitled to a complimentary 30 million BONK token airdrop. With the rise in BONK’s value, this airdrop has opened up a lucrative arbitrage opportunity—now worth $877—significantly outpacing the phone's cost of $599.
Solana co-founder Raj Gokal It has been reported that phone sales surged over tenfold in just 48 hours, with expectations that they will completely sell out before the year's end. This dramatic uptick signifies a major turnaround for a device that was previously underperforming.
lol. just so everyone is aware, @solanamobile Saga phone sales have increased more than ten times in just two days and are anticipated to run out of stock before the new year. https://t.co/SzKht4DTYL
— raj 🖤 (@rajgokal) December 14, 2023
Bonk’s Market Performance Outpaces Its Rivals
Bonk's extraordinary growth has allowed it to overshadow competitor memecoin Pepe, despite the widespread view that memecoins are inherently unstable.
The unexpected increase in sales prompted Solana's co-founder to propose a potential price hike for the Saga phone, which had earlier seen its price slashed from $999 to $599 back in August due to poor market performance. Anatoly Yakovenko A representative from Solana confirmed to Cointelegraph that the Saga has generated 'millions of dollars worth' of sales within just a 48-hour timeframe, highlighting the device’s enticing feature as a 'self-sufficient phone.'
To manage the surging demand, Solana Mobile has placed an order limit, allowing each household to purchase only one mobile device.
This recent sales spike represents a dramatic change in the fortune of the Saga phone, which had struggled to gain traction. Co-founder Yakovenko even admitted in a podcast that he primarily uses the Solana Saga as his 'NFT phone' rather than as his main device.
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