Pre-orderers of the Solana Mobile “Chapter 2” phone experienced a brief moment of delight as a combination of airdropped memecoins nearly covered the entire cost of the device.
In April, crypto projects behind two memecoins with cat themes, “Cat in a dog’s world” (MEW) and “Maneki” (MANEKI), airdropped tokens to the crypto wallets connected to pre-orders for the unreleased Chapter 2 phone, which initially cost $450.
The MEW team distributed a hefty 37,600 of their tokens to each holder on April 1st. At its peak price after the airdrop, this amounted to roughly $334, according to CoinGecko data.
Combined with additional airdrops, including 114,000 tokens from another memecoin project called Wuffi (WUFFI), the total value of the airdrops briefly surpassed the cost of the phone. According to the airdrop value checker “twoloot.com,” this meant holders could have potentially covered the device’s cost and even profited by around $30.
However, the dream was short-lived. The memecoin market is known for its volatility, and both MEW and MANEKI have since experienced significant price drops. MEW currently sits at around $220, and MANEKI has fallen to $124.
It’s important to remember that airdropped tokens are speculative investments, and their value can fluctuate dramatically. While the initial airdrops offered an exciting prospect for pre-order holders, they don’t guarantee long-term profits.
