The tl;dr of the recent surge in
SOL
and $BONK is the Solana Phone Rebate - the potential for buyers to make more money than the initial asking price of $599. Once the token drop of 30M that came with each purchase exceeded the cost of the phone itself, it created a frenzy that has driven the price of both coins at once.
The question is - will it last? Solana developers and core team members were airdropped enough tokens to make potentially millions if they manage to sell off at the right moment. This would be your classic rug-pull strategy, which the project is already known for due to past scandals. Or will things be different this time? Time will tell. 👀
SOL
and $BONK is the Solana Phone Rebate - the potential for buyers to make more money than the initial asking price of $599. Once the token drop of 30M that came with each purchase exceeded the cost of the phone itself, it created a frenzy that has driven the price of both coins at once. The question is - will it last? Solana developers and core team members were airdropped enough tokens to make potentially millions if they manage to sell off at the right moment. This would be your classic rug-pull strategy, which the project is already known for due to past scandals. Or will things be different this time? Time will tell. 👀