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A Solana Saga phone seems to have fetched as much as $5,000 on eBay — over eight times its retail price — following a rush to acquire a complimentary memecoin airdrop that led to the devices selling out on the official site for the first time.
As per a Dec. 16 listing on the eBay platform, two unopened, boxed phones have recently been sold, listed at $5,000 or “best offer,” while another unit was sold for $3,316 or “best offer.”
Solana Saga phones were being resold for as high as $5,000 on eBay. Source: eBay
Additionally, 20 more devices sold for over $2,000 over the weekend, representing a markup of more than $1,400 from the original $599 price listed on the Solana Mobile website.
Since its launch on May 8, each new Saga phone has included a complimentary airdrop of 30 million Bonk (BONK) tokens. Traders observed last week that a price increase in Bonk rendered the free airdrop more valuable than the device itself — resulting in the phone being marked as “SOLD OUT” as of Dec. 16.
Purchasers of these resold Saga phones are likely speculating that the value of the memecoin will continue to rise. Over the past 30 days, Bonk has surged nearly 800% as the token gained significant popularity among memecoin fans and opportunistic traders.
The price of Bonk has surged more nearly 800% in the last month. Source: TradingView
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Nevertheless, for traders to gain from the staggering $5,000 price point, Bonk’s value would need to increase by an additional 620% from its current level. This would elevate Bonk’s total market capitalization to $8.68 billion — positioning it similarly to Tron (TRX) or Polkadot (DOT).
Related: Solana phone sales skyrocket as degens scramble for pumped-up BONK
It appears that the buyers of the phones may not be exclusively betting on Bonk’s price, as several Solana-based projects have recently announced airdrops and other financial incentives for users of the device.
In a Dec. 17 update on X (formerly Twitter), the pseudonymous founder of the DeFi protocol, Solend, confirmed that the team would be developing an airdrop for Saga phone holders.
Moreover, another memecoin initiative, Samoyed Coin (SAMO), revealed plans to conduct an airdrop for Saga holders, with further details “coming soon.”
On Nov. 15, decentralized storage provider GenesysGo announced that users would have the ability to mine its native Shadow (SHDW) token through an application on the Saga phone.
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