- Solana Saga phones officially sold out in the US.
- The surge in demand comes as a surprise after co-founder Anatoly Yakovenko expressed disappointment over sales.
- BONK traders are the primary reason behind the spike in Saga phone sales.
Solana co-founder Anatoly Yakovenko recently revealed that their flagship Web3 phone, the Solana Saga, despite being heralded as a potential ‘moonshot’ for the ecosystem, struggled to break the bank as sales figures fell massively short of expectations.
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However, it appears the co-founder may have found a BONKers marketing strategy, as reports surface of the phones suddenly vanishing from US and EU markets due to rising demand.
Solana Phone Sales Go BONKers
On Friday, December 15, Solana dropped an unexpected bombshell as the Saga phone completely sold out in the US, leaving only a handful of units available in Europe. The sudden burst in demand came as a surprising turnaround from just a few days ago when co-founder Anatoly Yakovenko expressed disappointment over underwhelming sales of the web3 phone.
Despite implementing strategies such as slashing prices and offering free rewards, the Solana Saga struggled to move a mere 2,500 units.
However, the newfound interest in the phone isn’t primarily about the device but more about what it comes with. Interestingly, each Saga phone is bundled with 30 million BONK tokens, Solana’s leading Shiba Inu-themed memecoin.
While the tokens, initially offered through an airdrop in June, were valued at $10 at the time, the explosive rise of BONK has turned the tables. Traders are now going bonkers to snatch up every available phone, as the 30 million BONK tokens accompanying it are ironically worth more than the phone’s $599 price tag.
BONK’s Moonshot
Solana’s inaugural Shiba Inu-themed memecoin BONK has been a huge hit, exploding by over 800% in December alone to reach a total market cap of over $1.6 billion. BONK’s historic performance has intensified demand among market participants, prompting major exchanges like Coinbase and Binance to list the token.
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When writing, BONK proudly held its position within the top 50 tokens by global market cap and exchanged hands for $0.0000273, gaining an impressive 121% in the last 24 hours.
On The Flipside
- Crypto analysts on X argue that a gradual market correction for BONK is looming due to many holders attempting to take profits at this price range.
- To capitalize on the free BONK tokens, traders must wait for the phone’s physical arrival to claim and sell them. Due to memecoins’ volatility, prices can fluctuate significantly before the phone arrives.
Why This Matters
Solana had invested a massive amount into developing and researching its flagship web3 phone. While sales initially fell quite short of their 50,000 unit sales target, BONK traders proved they would do anything to get their hands on the Shiba Inu-themed memecoin.
Read more on how Cardano outshined its peers:
Cardano (ADA) Prints Double Digit Gains While Market Stalls
Read more about Solana closing in on Ethereum:
Solana Closes Gap on Ethereum with Over $16M in NFT Sales.
