One Phone, One BONK Airdrop! Solana’s Saga Phone Surges to $15,000 in Frenzied Trading
With the enticement of “Get BONK Airdrop with One Phone,” the Web3 phone “Saga” under Solana caused a buying frenzy last week. The inventory that had been sitting unsold for half a year sold out within days on the official website. Despite the BONK coin price retracing over 40% from its peak three days ago, the price of Saga on the secondary market skyrocketed from the official retail price of $599 to tens of thousands of dollars, indicating the strong FOMO sentiment.
It is reported that each Saga phone user can currently claim an airdrop of 30 million BONK tokens in the Bonk DApp. Due to the recent surge in the price of BONK, which reached an all-time high of $0.00003416 on December 15th, buying a Saga phone for $599 would yield over $1,000 worth of BONK tokens. This attracted many arbitrageurs to place orders.
However, according to CoinGecko market data, the trading price of BONK at the time of writing is approximately $0.00002007, representing a decline of 40.60% from the aforementioned peak. In other words, 30 million BONK tokens are worth about $602.
Although one could have anticipated this kind of situation before placing an order, taking a risk is part of the game in the crypto world. According to data from eBay, a total of 123 Saga phones were sold on the platform in the past three days, with the highest selling price reaching $5,000. This is five times more expensive than the iPhone 15Pro, which has a starting price of $999. One seller even stated, “Brand new, unopened,” and “Unclaimed BONK airdrop.”
As for the Saga phones listed for sale on eBay, the cheapest one is priced at $1,500, while the highest price has been inflated to $15,000.
BlockTempo reminds readers that, like most meme coins, BONK experiences extremely volatile price fluctuations. It has recorded a weekly increase of up to 12,500%. Therefore, it is essential to carefully assess the risks before investing (or purchasing a Saga phone).