Solana Saga Phone Fetches $5,000 on eBay Amid BONK Meme Coin Frenzy

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Fredrik Vold

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Fredrik Vold

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December 18, 2023 09:37 EST

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In the midst of the BONK meme coin frenzy, Solana Saga phones, initially overshadowed by lackluster sales, have become unexpected stars on the resale market, with one device reportedly fetching a staggering $5,000 on eBay.

According to completed listings, the Solana Saga phones, which were initially priced lower, are now consistently reselling for over $2,000.

The surge in demand reached new heights on Saturday when two phones exchanged hands for an impressive $5,000 each.

On Sunday, another phone commanded a price of $3,361.

Interestingly, these sales were completed by sellers who already possessed the device, while others are waiting for their phones to ship.

The sudden surge in popularity can be attributed to an arbitrage opportunity noticed by traders.

Originally, each Saga phone purchase included a generous airdrop of 30 million BONK tokens, a hot meme coin built on the Solana blockchain.

As the value of BONK has escalated, surpassing the initial cost of the phone itself, a fervor for the Solana Saga phones ensued.

At the time of writing on Monday, the price of the BONK meme coin was up an impressive 68% for the past seven days, and up close to 640% on a 30-day basis, trading at $ 0.00001987.

The coin is ranked as number 55 on CoinGecko’s ranking of the most valuable cryptocurrencies.

Beyond the getting access to the BONK airdrop, the Saga phone also offers additional perks, including a complimentary month of access to Helium Mobile and a free toy.

Moreover, the phone’s decentralized app (dApp) Store boasts apps that reward Saga holders with exclusive benefits and rewards, further enhancing its appeal.