Pre-order holders of Solana’s upcoming ‘Chapter 2’ mobile phone found themselves with a unique opportunity for profit as memecoins airdropped to buyers briefly surpassed the phone’s cost.
In April, two cat-themed memecoin projects, Cat in a dog’s world (MEW) and Maneki (MANEKI), distributed tokens to pre-order buyers of the Chapter 2 device. MEW airdropped 37,600 tokens per holder on April 1, initially valued at $334 per CoinGecko data. Similarly, MANEKI airdropped 5,199 tokens per holder on April 24, reaching a peak price of $0.269 on April 25.
Including airdrops from other memecoin projects like Wuffi (WUFFI), which distributed 114,000 tokens to Chapter 2 wallets, holders stood to gain $480, covering the phone’s cost and yielding an additional $30 in profit, as per twoloot.com’s airdrop value checker.
Although initially lucrative, the value of memecoins has since declined, with MEW now valued at $220 and MANEKI at $124.
Buyers were required to connect a Solana wallet address when pre-ordering the Chapter 2 device, enabling them to receive airdropped tokens before the phone’s delivery. Owners of Solana’s first mobile device, the ‘Saga,’ also received Maneki tokens in their wallets.
The original Solana Saga, released in May of the previous year, initially received little attention, with reviews citing technical issues and usability concerns. However, sales surged in December when users discovered an arbitrage opportunity during a memecoin rally for Bonk (BONK). Between Nov. 15 and Dec. 15, BONK’s price surged over 1,100%, resulting in the 30,000 BONK airdrop being valued at over $1,150—$551 more than the Saga phone’s original $599 price tag.
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