{"id":26762,"date":"2023-12-18T01:40:14","date_gmt":"2023-12-18T01:40:14","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/solana-saga-sells-for-up-to-5k-on-ebay-as-bonk-frenzy-causes-sell-out\/"},"modified":"2023-12-18T01:40:16","modified_gmt":"2023-12-18T01:40:16","slug":"solana-saga-sells-for-up-to-5k-on-ebay-as-bonk-frenzy-causes-sell-out","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/solana-saga-sells-for-up-to-5k-on-ebay-as-bonk-frenzy-causes-sell-out\/","title":{"rendered":"Solana Saga sells for up to $5K on eBay as Bonk frenzy causes sell-out"},"content":{"rendered":"
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A Solana Saga phone appears to have sold for as much as $5,000 on eBay \u2014 more than eight times its retail cost \u2014 after a frenzy to pick up a free memecoin airdrop caused the devices to sell out on the official website for the first time.\u00a0<\/p>\n

According to a Dec. 16 listing on the online marketplace eBay, two unopened, in-box phones have recently sold, listed for $5,000 or \u201cbest offer,\u201d while another device has\u00a0sold for $3,316 or \u201cbest offer.”<\/p>\n

Solana Saga phones were being resold for as high as $5,000 on eBay. Source: eBay<\/em><\/figcaption><\/figure>\n

An additional 20 devices managed to sell for over $2,000 over the weekend, a more than $1,400 markup on the original $599 price tag on the Solana Mobile website. <\/p>\n

Since the device launched on May 8, each new Saga phone has come with a free 30 million Bonk (BONK) token airdrop. Traders last week began noticing that a price surge in Bonk meant that the free airdrop has become more valuable than the device itself \u2014 causing the phone to become \u201cSOLD OUT\u201d as of Dec. 16. <\/p>\n

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The Saga is SOLD OUT! <\/p>\n

Words cannot describe how much we appreciate your support. We are nothing without this amazing community <\/p>\n

While these past few days will be cemented in our history, we\u2019re excited for the future <\/p>\n

Stay tuned \u2728 pic.twitter.com\/KJje8lBDLL<\/a><\/p>\n

\u2014 Solana Mobile (@solanamobile) December 16, 2023<\/a><\/p><\/blockquote>\n

Buyers of these scalped Saga phones are likely a bet that the price of the memecoin will continue to appreciate even further. In the last 30 days, Bonk surged nearly 800% as the token gained mass traction among memecoin enthusiasts and opportunistic traders.<\/p>\n

The price of Bonk has surged more nearly 800% in the last month. Source: TradingView<\/em><\/figcaption><\/figure>\n

However, for traders to profit from the eye-watering $5,000 price tag, the price of Bonk would need to grow a further 620% from its current value. This would see Bonk command a total market cap of $8.68 billion \u2014 placing it at a similar valuation to Tron (TRX) or Polkadot (DOT).<\/p>\n

Related: <\/em><\/strong>Solana phone sales skyrocket as degens scramble for pumped-up BONK<\/em><\/strong><\/p>\n

However, it would seem that the phone buyers may not be solely betting on the price of Bonk, with several Solana-based projects recently announcing airdrops and other financial incentives for device users. <\/p>\n

In a Dec. 17 post to X (formerly Twitter) the pseudonymous founder of the DeFi protocol, Solend confirmed that the team would be working on an airdrop for Saga phone holders. <\/p>\n

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true, solend is working on an airdrop for saga owners https:\/\/t.co\/1EnphaJV5J<\/p>\n

\u2014 Rooter | Solend (@0xrooter) December 16, 2023<\/a><\/p><\/blockquote>\n

Additionally, a fellow memecoin project called Samoyed Coin (SAMO) announced<\/a> they would be releasing an airdrop for Saga holders, with more details \u201ccoming soon.\u201d <\/p>\n

On Nov. 15. decentralized storage provider GenesysGo previously announced<\/a> that users would be able to mine its native Shadow (SHDW) token by way of an application on the Saga phone. <\/p>\n

Web3 Gamer: <\/em><\/strong>Games need bots? Illivium CEO admits \u2018it\u2019s tough,\u2019 42X upside<\/em><\/strong><\/p>\n<\/div>\n