The dog-themed memecoin Bonk (BONK) caused a sales explosion for Solana‘s smartphone Saga. Prior to the Bonk hype’s peak, Saga was seen as a failed endeavor, but things changed with the Bonk AirDrop conducted through the smartphone. With the BONK AirDrop, the previously overlooked Saga saw its price rise from $599 to as much as $5,000.
Saga Found Buyers at $5,000 from a $599 List Price
It was discovered that multiple Saga phones were sold for over $2,000 each on the online marketplace eBay. Most of these phones are listed as “boxed and unopened,” with the majority of sellers being from the USA. Moreover, a Saga was seen to have found a buyer at the quite high price of $5,000 on eBay.
The increase in sales of Solana’s Saga phone over the past week was due to some arbitrage investors chasing the 30 million BONK token AirDrop given to each phone owner. As is known, the value of the AirDrop given through the smartphone, which was sold for $599, had risen to over $700 last week.
With the BONK Hype Peaking, Saga Gains Interest Again
The themed memecoin BONK, which quickly gained popularity among market participants at the beginning of November, has since made a remarkable surge, rising over 100% on different days. The memecoin’s gain over the past 30 days is now over 700%.
The BONK hype seems to have changed the fate of Saga, which had been considered uncertain due to its disappointing sales. Solana’s founder Anatoly Yakovenko in an interview at the time said, “We didn’t see a compelling signal for this to sell 50,000 units. I think sales of 25,000 to 50,000 units would be enough to feel there is a solid user base that developers would be compelled to submit applications for.”
When Saga first hit the market, it was offered for sale at a thousand dollars. After low interest, the price was reduced to $599 in August.
