As an observer with a background in technology and finance, I find this situation intriguing. Pre-order holders of Solana’s Chapter 2 mobile phone were given a unique opportunity to profit from memecoins before the phone was even released. The airdropped tokens from Cat in a dog’s world (MEW) and Maneki (MANEKI), along with other memecoin projects, briefly exceeded the cost of the phone, allowing some holders to pay off their devices and even make a profit.
Buyers of Solana’s “Chapter 2” mobile phone who pre-ordered it had a short window of opportunity to make a profit before the value of the memecoins given as an airdrop surpassed the price of the phone itself.
As an analyst, I’d rephrase it as follows: In the month of April, the teams managing two distinct cat-themed memecoin projects, Cat in a Dog’s World (MEW) and Maneki (MANEKI), granted tokens to crypto holders who had pre-ordered their latest Chapter 2 device. The initial investment for this device was set at $450.
On April 1st, MEW‘s development team distributed 37,600 tokens to every token holder. The maximum value of these tokens, according to CoinGecko, was $0.0089 at that time, making the total allocation worth approximately $334 for each recipient.
On April 24, a grand total of 5,199 units of MANEKI were distributed to each holder through an airdrop event. This distribution coincided with a notable price peak for MANEKI, reaching $0.269 on April 25.
I’ve noticed that alongside other memecoin projects such as Wuffi (WUFFI), which distributed 114,000 tokens to Chapter 2 wallets, the collective airdrops would have granted token holders approximately $480 based on current market values. This amount is sufficient to cover the cost of a device and leaves an additional profit of around $30. According to the airdrop value checker twoloot.com.
The value of memecoins has decreased over time; MEW is currently priced at around $220, whereas MANEKI is now at approximately $124.
Buyers who Pre-ordered Chapter 2 devices were asked to provide their Solana wallet addresses during the ordering process. This enabled them to receive the distributed tokens prior to the arrival of their phones.
As a financial analyst examining the distribution of Maneki tokens, I can explain that the initial owners of the Solana Saga mobile device were all granted an identical allocation of Maneki coins in their individual digital wallets.
Last year in May, the initial version of the Solana Saga hit the market with minimal excitement. Numerous critiques pointed out various technical glitches and user experience challenges associated with the devices.
In December, there was unexpected high demand for the phones as savvy investors, or “degens,” discovered an intriguing arbitrage opportunity involving the memecoin, Bonk (BONK), and its price surge.
Last year between November 15th and December 15th, the value of BONK experienced an unprecedented increase of over 1,100%. At its highest point, the worth of the 30,000 unit airdrop surpassed $1,150 – marking a significant enhancement of $551 in comparison to the initial $599 price assigned to the Saga phone.
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2024-04-26 09:08