TL;DR
- Pre-order holders of Solana’s ‘Chapter 2’ mobile device briefly had the opportunity to offset the entire cost of their pre-orders with the value of airdropped memecoins. At one point, the combined value of the airdrops surpassed the device’s price tag.
- The value of the airdrops quickly fell, highlighting the volatility and risk associated with cryptocurrency and memecoin investments. Despite this, the event left the cryptocurrency community astounded.
- The Solana Mobile ‘Chapter 2’ device aims to make crypto products and services more accessible. The device is expected to ship in the first half of 2025.
Pre-order holders of Solana’s ‘Chapter 2’ mobile device found themselves in a brief window of opportunity where the value of airdropped memecoins could have offset the entire cost of their pre-orders.
On April 24, an airdrop of 5,199 freshly minted Maneki (MANEKI) tokens, together with a previous airdrop of 37,600 Cat in a Dog’s World (MEW) tokens on April 1, momentarily offset the pre-order expense for Chapter 2 on Thursday. At one stage, the combined value of these two airdrops alone hit $480, surpassing the device’s $450 price tag, as per Solana Floor.
This phenomenon was short-lived, as the token prices quickly fell, highlighting the volatility and risk associated with cryptocurrency and memecoin investments. Despite this, the event has left the cryptocurrency community astounded.
In the last 24 hours, MANEKI has seen a trading increase of over 8%, while MEW has experienced a nearly 5% decrease, as per data from CoinGecko. The current value of the MANEKI airdrop stands at $127.38, and MEW’s at $214.78, according to the Two Loot dashboard. When combined with the value of three other memecoin airdrops, WUFFI, IQ50, and CWIF worth $43.45, the total value of the Chapter 2 airdrop is presently $385.62.
How Solana is Making Crypto Products More Accessible
During the pre-order process for Chapter 2 devices, purchasers had to link a Solana wallet address. This meant that the airdropped tokens were accessible to holders even before the phone was delivered. Similarly, those who owned Solana’s inaugural mobile device, known as the “Saga,” also had the same quantity of Maneki deposited into their wallets.
Airdrops are becoming an increasingly popular strategy in the crypto world. In this case, the airdropped tokens, initially valued at $480, have since decreased in price. This reflects the highly speculative and volatile nature of these digital assets.
The Solana Mobile ‘Chapter 2’ device aims to make crypto products and services more accessible by putting Web3 securely in the palms of users’ hands. The device is expected to ship in the first half of 2025.
While the future of MEW and MANEKI remains uncertain, as they are memecoins with no inherent utility, the unpredictable nature of the cryptocurrency market means that their prices could potentially surge again.
