Saga Phone by Solana Sells out in the US Due to Increased Demand Driven by BONK Price Surge

5:40 am
December 17, 2023

The Solana Mobile team has declared that its crypto phone Saga is now sold out in the US, with only a limited number of these highly sought-after devices remaining for the European market. Launched in May, the Android phone has sparked a frenzy of interest.

Why Has the Solana Saga Seen Such High Demand?

On December 13, the price of BONK, a meme coin on Solana, soared to a new all-time high after cryptocurrency exchange Coinbase announced trading support. Additionally, Binance is listing BONK, further fueling the meme coin craze.

As BONK’s price surged, traders rushed to take advantage of a free 30 million bonk airdrop for anyone who purchased the phone, leading to frantic buying.

In an effort to enable as many people as possible to buy the crypto phone, Solana imposed a “limit” of one device per household.

A few hours later, the Solana Mobile team posted on X that Saga was “officially sold out” for the US market.

The phone’s sales skyrocketed from modest numbers to tenfold figures in just 48 hours. Solana co-founder Raj Gokal stated in a post on Twitter that the phone was on the brink of selling out, with less than 5,000 units available for Europe.

BONK Price Gains

BONK’s remarkable price surge has seen the meme coin rise by nearly 100% in the past 24 hours and over 980% in the past 30 days.

According to information on the Saga store, the phone is currently priced at $599, down from the $999 price tag in August.

With prices at $0.00002981 at the time of writing, the 30 million BONK offered translates to approximately $894. This would mean a profit of over $290 for a Saga buyer in the last 48 hours if they were to cash in on their airdropped BONK.

Source: CoinJournal

FAQs

What is BONK?

BONK is a meme coin on the Solana blockchain that experienced a surge in price due to trading support from major exchanges and an airdrop for buyers of the Saga phone.

Why did the demand for the Saga phone increase suddenly?

The demand for the Saga phone surged due to the rising price of BONK and the opportunity for buyers to receive 30 million free BONK tokens with their purchase.

What is the price of the Saga phone and how many were sold?

The Saga phone is currently priced at $599, down from $999 in August, and has sold out in the US market, with limited units remaining for the European market.


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