Solana’s Saga phones are sold out in the US as customers seek BONK token bonuses due to Bonk price surge.

adminDecember 16, 2023

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Solana’s Saga phones are sold out in the US due to Bonk’s soaring prices. Customers rushed to cash in on the offer of 30 million BONK tokens with each purchase.

With Bonk soaring 1,111% in the past month and 86% today alone, the token is worth about $870 at 11:50 a.m. EST, more than the phone itself. For a phone price of $599, a customer can buy the phone and sell BONK tokens for a paper profit of $271.

On December 14, before the phone sold out, Solana co-founder Raj Gokal tweeted, “Saga sales have increased more than 10x in the last 48 hours and are now on track to sell out before the new year.”

lol. So that everyone knows, @solanamobile Saga sales have increased more than tenfold in the last 48 hours and are now expected to sell out before the new year. https://t.co/SzKht4DTYL
— Raj 🖤 (@rajgokal) December 14, 2023

However, since buyers receive tokens after the phone is delivered, there is no guarantee that the purchase will be monetized. If the price of Bonk plummets, as it often does with speculative tokens, any paper profits will evaporate.

In May, 30 million BONK tokens were worth just $16

BONK token offerings have been available since the phone was launched on May 8. At the time, 30 million Bonk tokens were worth $16.

The sell-out of the Saga phones comes just 10 days after Solana Labs co-founder Anatoly Yakovenko lamented the lack of sales of the highly anticipated phones during an appearance on the Unchained Podcast.

Solana has been around for about a year, first revealing its plans to enter the telecommunications space with a new Android phone called Saga. before.

Wow, what a great day 🔥🔥🔥
Saga phones are officially sold out in the US! We sincerely thank everyone who participated in this trip ♥️
We still have a few left for our friends in Europe.
Please look forward to what comes next 🫡
— Solana Mobile 🌱 (@solanamobile) December 15, 2023

Memecoin tokens have been on a downward trend recently as sentiment in the cryptocurrency markets has been heightened by the prospect of a spot Bitcoin ETF being approved early next year and the Federal Reserve’s announcement this week that it will end historic monetary tightening.

This has led investors to look for the next meteor like Bonk. There are several competitors, including other dog-themed coins like Bonk, but one analyst says Meme Kombat, a pre-sale GameFi token, is one of his favorites.

The project is currently in pre-sale and has nearly reached its target price of $3.5 million after being purchased by Whale. token It’s worth $200,000.