Pre-order Customers Profit from Memecoin Air-drops on Solana's Upcoming 'Chapter 2' Device
Summary:
Pre-order customers of Solana's 'Chapter 2' smartphone briefly profited as the value of air-dropped memecoins temporarily surpassed the device's cost. The MEW and MANEKI memecoin teams air-dropped tokens to the wallets of customers that pre-ordered the new mobile. At peak, the air-drops exceeded the $450 upfront cost of the phone, allowing customers to pay off the device and earn a small profit. However, the value of these memecoins has since dropped. The same air-drop benefit was offered to Solana's first mobile device, the 'Saga', which gained popularity due to an unexpected arbitrage chance stemming from the memecoin, Bonk (BONK).
Early patrons who pre-ordered Solana's 'Chapter 2' smartphone briefly found themselves in the money as air-dropped memecoins' worth momentarily overtook the purchase cost of the device. The teams of two feline-themed memecoin ventures, namely Cat in a dog's world (MEW) and Maneki (MANEKI), air-dropped tokens in April to the cryptocurrency wallets of customers that pre-ordered the forthcoming Chapter 2 gadget, initially priced at $450.
On the first day of April, the MEW team distributed 37,600 tokens to each purchaser. According to CoinGecko data, these tokens, which reached a high of $0.0089 post-airdrop, held a value of $334. In a similar vein, every patron received an airdrop of 5,199 MANEKI on April 24, which reached a high of $0.269 the next day. Considering additional air-drops from other memecoin initiatives, like Wuffi (WUFFI), which air-dropped 114,000 tokens, the total value of the air-drops could have earned buyers $480. This not only would've paid off the device but would've also resulted in an extra $30 in profits as per the airdrop value checker twoloot.com. However, the value of these memecoins has since dwindled, with MEW currently worth $220 and MANEKI down to $124.
Pre-purchasers of Chapter 2 devices were required to share a Solana wallet address during the purchase, making these air-dropped tokens available even before the phone's delivery. In related news, even as the Bitcoin price dipped, memecoins BONK, POPCAT and Solana stayed in the green.
Owners of Solana's inaugural mobile device, the 'Saga', also received an equivalent amount of Maneki in their respective wallets. Despite the original Solana Saga being received with lackluster interest and reports of technical difficulties when it was launched in May of last year, the device became a hot seller in December. This was due to an unexpected arbitrage chance that arose from a surge in the memecoin, Bonk (BONK). From November 15 to December 15 of last year, BONK's value skyrocketed over 1,100%. At its peak, the 30,000 BONK airdrop was valued at over $1,150 - a clear $551 more than the original Saga phone's retail price of $599.
Published At
4/26/2024 8:22:35 AM
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