BONK Rally Continues As Solana's Smartphone On Track To Sell Out

Updater face
Last updated Jan 16, 2024 | 10:34 AM UTC

Bonk (BONK) token – the Solana-based meme newcomer that everyone is talking about at the moment – has this week overtaken frog-themed rival Pepe (PEPE) to become the third-largest memecoin after its market cap broke the billion-dollar mark. 

Within the short space of a month, the dog-inspired BONK has risen by a massive 940% and has emerged as a serious contender to the meme throne while also causing the price of Solana's SOL token to also see increased price action.

What's more, at the time of writing, BONK's trading volume has jumped by more than 540% to $1.8billion – beating SHIB's $183million and DOGE's $660m.

Currently trading up 440% at $0.00002942, BONK's recent rally follows its new listings on the Binance, and KuCoin exchanges. 

Solana smartphone sales surge

The knock-on effect of BONK's recent trading success has been further good news for Solana as its very own mobile phone, the Saga, is – finally – on its way to being sold out. 

In the past 48 hours or so, sales of the $599 Saga smartphone have multiplied tenfold as a result of a 30-million BONK token airdrop that's open to every buyer of the phone.

Solana co-founder Raj Gokal yesterday has since

that the Saga phones are "now on track to sell out before the new year".

It follows a reversal of fortune for the blockchain-enabled smartphone that had until recently been suffering poor sales.

It was only 10 days ago when the other Solana co-founder Anatoly Yakovenko expressed his disappointment in the sales of the Saga, noting that only 2,500 phones had been sold. In an interview with Unchained Crypto on 5 December, he noted that despite the low sales, there had been a great response from users, stating: “We got really good reviews from the people that got it. The Solana super fans, they loved it.”

You might think that $599 is an awfully large amount of money to spend just to get in on an airdrop, and you’d be right. But thanks to BONK rising by nearly more than 900% in the past 30 days, the rewards from the airdrop are valued at just over $900. 

To avail of the BONK airdrop, users must download the app from the Saga custom app store.

Solana’s next move?

All the positive news around Solana has naturally had an impact on the token’s price, which enjoyed modest gains, briefly pushing the token past the $78 mark for the first time this year before returning to around $74 at the time of writing. 

There is no doubt that the success of Saga’s sale will attract new developers who want to build apps specifically for use on Web3 smartphones.

With any luck, not only will we see new novel dApps on enter the market, but also another wave of mainstream adoption in the Web3 space.

Written by

Eddie is a seasoned crypto writer and Bitcoin maximalist.