- BONK, a dog-themed meme coin on Solana, has skyrocketed over 100% in value amid frenzy over the Solana Saga smartphone
- The Saga smartphone sold out in the U.S. after buyers realized they could claim a valuable 30 million BONK token airdrop with purchase
- BONK and the Saga have surged while the wider crypto market is flat, showing speculative mania around certain crypto assets like Solana-based meme coins
BONK’s Meteoritic Rise
BONK, a dog-themed token on the Solana blockchain, has soared over 101% in the last 24 hours to $0.000002913. Over the past week, it has jumped 130% as buyers pile in. In the last month alone, BONK’s value has exploded by 988% as the meme coin continues hitting new highs. On Friday, it reached an all-time peak of $0.000003416 before dipping.
Saga Sales Spike from BONK Airdrop
The Saga smartphone launched in April but had lackluster sales until this week. After realizing Saga owners could claim a valuable airdrop of 30 million BONK, sales jumped 10x in 48 hours. With BONK’s surge, that airdrop is now worth far more than the $599 phone itself. The Saga has sold out in the U.S. amid the buying frenzy.
Wider Solana and Crypto Markets
The price boom for BONK and the Saga comes amid renewed investor interest in Solana (SOL), which has rallied this year. SOL is one of the only major cryptocurrencies gaining value right now. Meanwhile, Bitcoin, Ethereum, and most other top coins are flat or down slightly. Meme coins and Solana-based projects have posted outsized gains thanks to the hype.
The massive gains for BONK token holders and Saga owners highlight the speculative mania around certain crypto assets. However, the highly volatile nature of meme coins means timing is everything.