In an unexpected surge, Solana’s Saga mobile phones have completely sold out in the U.S. within days, fueled by the escalating demand for the BONK token bonus accompanying each device. BONK, a Shiba Inu-themed memecoin on the Solana blockchain, has skyrocketed by over 600% in the last fortnight, making the token allocation on each phone now surpass the device’s retail price.
Despite initially selling fewer than 2,500 units, the Saga phones’ popularity has soared, prompting Solana Mobile to restrict purchases to one per household due to customers buying multiple devices. The limited release of 30 million BONK tokens per phone, now valued at $860, has attracted crypto enthusiasts seeking to capitalize on the surging cryptocurrency.
lol. just so everyone is aware, @solanamobile saga sales have >10x'd in the past 48 hours, and are now on track to sell out before the new year.https://t.co/SzKht4DTYL
— raj 🖤 (@rajgokal) December 14, 2023
Solana Labs, facing uncertainty about the phone’s future until recently, may reconsider its focus as Saga sales exceed expectations. Solana founder Anatoly Yakovenko highlighted the need for 25,000 to 50,000 units to establish a core user base for developers.
This unprecedented demand aligns with high trading volumes for BONK on both centralized and decentralized exchanges, with Coinbase recently listing the memecoin. BONK’s remarkable performance places it as the third-largest memecoin by market capitalization, trailing only DOGE and SHIB, showcasing the resurgence of Solana’s ecosystem amid the broader meme coin trend.
