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Solana has experienced a robust resurgence this week, hitting a high of $79.15. The Solana (SOL) price surged by 9% after Solana Mobile announced that Saga mobile phones are sold out, stating “While these past few days will be cemented in our history, we’re excited for the future.”
Solana Sells Out Saga Phones in the US
In a thrilling development, Solana Mobile announces the complete sell-out of Saga phones in the United States. The company expressed heartfelt gratitude to everyone who contributed to this remarkable journey, highlighting the overwhelming support received.
While the Saga phones have reached their limit in the US, Solana Mobile reassures its European audience that there are still a few units available for purchase. This success marks a significant milestone for Solana Mobile, showcasing the strong demand and positive response from users.
Solana’s memecoin, Bonk (BONK), has witnessed an extraordinary surge of over 1,100% in the past month, prompting a flurry of activity among crypto enthusiasts. Since the launch of the Solana phone on May 8, owners have been eligible for a free 30 million BONK airdrop.
The recent surge in BONK’s value has created an intriguing arbitrage opportunity, with the airdrop now valued at an astonishing $877, surpassing the phone’s current price of $599. This unexpected arbitrage phenomenon adds a unique twist to the volatile world of memecoins.
Solana co-founder Anatoly Yakavenko even suggested a price increase for the Solana Saga phone due to the heightened demand for Bonk. Earlier this month during a podcast appearance, Yakovenko acknowledged the Saga’s struggles in the market and revealed his personal use of the device as an “NFT phone,” not as his primary mobile device. Besides, he also talked about launching more Saga phone models.
Read More: Solana Flips Ethereum DEX Volume As Saga Mobile Gets Sold Out & BONK Price Rally
The SOL Price Rally to Continue
The Solana (SOL) price has been on a mega rally since mid-October and has gained nearly 300% in the last two months. In today’s rally, the SOL price has shot past the crucial resistance of $75.
The key hurdle was beaten and hit a high of $79.15. A successful close above it may trigger a substantial SOL upswing. The subsequent noteworthy resistance lies around the $80 mark; a breach could propel SOL’s value towards approximately $85.
Interestingly, if this happens, Solana could possibly flip XRP as the fifth-largest cryptocurrency by market cap. Presently, Solana holds the sixth position in the cryptocurrency market, boasting a valuation of around $33.57 billion, closely shadowing XRP’s $34.20 billion.
Also Read: Ripple CTO & XRP Lawyer Red Flag SEC Gary Gensler ‘Crypto Asset Security’ Propaganda
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