When Solana Reveals Their New Cell Phone, Will the Stock Price Rally?

In order to bridge the gap between supply and demand, Solana Mobile Phone 2.0 will offer a reduced price tag while maintaining some of the same capabilities as the Saga phone.

 

A person acquainted with the situation has revealed that Solana Mobile will soon launch a second smartphone, capitalizing on the remarkable success of its first crypto-ready gadget. The forthcoming phone will keep the main characteristics of its forerunner, the Saga, which include a built-in cryptocurrency wallet, a “dApp store” for crypto apps, and a customized version of Android.

 

 

 

 

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How Has Solana Mobile 2.0 Changed?

 

 

On the other hand, the new phone will have different hardware specs and an effort to make it more inexpensive. Due to slow sales, the original phone, which debuted last year at $1,000, was later reduced in price.

 

The new Solana Mobile phone is expected to meet the soaring demand for the limited number of Saga smartphones on the secondary market. The value of a factory-sealed Saga device has increased fivefold in the last five weeks, and it is now fetching bids of $3,200 on eBay.

 

Saga had a hard time attracting a sizable enough audience when it first debuted as an experimental phone for mobile-first platforms that catered to cryptocurrency dealers and NFT collectors. But things changed when people found out the phone came with a bunch of BONK tokens, which were more expensive than the phone itself. The Saga was sold out in a week.

 

As the month progressed, Saga phones kept rewarding their owners with airdrops of valuable tokens and NFTs from different projects. In addition to bringing more people together in the Saga community, these airdrops encouraged other Solana developers to try their hand at making mobile apps. A spokesperson from Solana Mobile declined to comment when CoinDesk reached out to them.

 

 

 

 

 

 

 

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Price Rally for SOL to Restart?

 

After reaching a high of $122 in December 2023, the price of Solana (SOL) has been trading flat and remains below $100 for about a month. Solana (SOL) has a market valuation of $41.4 billion and is trading at $95.77 at the time of publication.

 

Solana buyers are quickly consuming the available stock below $90, forming smaller price rejection candles, despite the existing selling pressure. In this case, a bullish reversal inside the flag pattern or a double-bottom pattern are more likely to occur.

 

Significant resistance levels at $120 and $150 could halt the positive trend if the SOL price goes above $100.

 

 

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