Solana Saga Phone Faces Inventory Hurdles, What’s Next For SOL Price?

Amid a crypto surge fueled by Solana’s meme coin, BONK, and the success of the Solana Saga phone, a recent report unveils unexpected challenges for Solana Mobile. With Saga phones selling out and a soaring demand in the market, a twist in the tale emerges, leaving users in anticipation.

Meanwhile, the news also comes amid a time when the Solana price has witnessed a substantial increase over the past few days, sending its price to new yearly highs.

Solana Saga Phone Inventory Hurdles

Solana Mobile recently celebrated the complete sell-out of Saga phones in the US, expressing gratitude for the overwhelming support. The success was buoyed by a surge in the price of Solana’s meme coin, BONK, and heightened interest in the Saga phone.

Despite the recent buzz on Saga phones, a recent report suggests a discrepancy in inventory management, with Solana Mobile admitting to an inaccurate representation of their stock. In a recent X post on December 22, Solana Mobile addressed the inventory challenges, revealing that the overwhelming demand led to sellouts in both the US and EU.

However, an inventory management issue with their third-party distributor resulted in inaccurate stock representation. As a result, orders placed after inventory depletion cannot be fulfilled. In addition, the company canceled some orders flagged for suspicious activity, aiming to prioritize genuine users.

Also Read: Binance Delists SOL, XRP, ADA, DOGE And Top Crypto In GBP Spot Pairs

Solana Price & Performance

The Solana price movement has gained notable traction lately, as it flipped BNB coin to secure the 4th position in top crypto rankings earlier today. However, the flip was short-lived, as now, the Solana has again slipped into the 5th position.

As of writing, the Solana price was up 7.08% to $93.53, while its volume over the last 24 hours rose 35.06% to $5.98 billion. Meanwhile, the token has touched a high of $99.12 and a low of $86.04 in the last 24 hours, suggesting growing interest in the SOL crypto from the crypto market enthusiasts. Notably, its 24-hour high also marked the highest peak for SOL prices this year.

Meanwhile, some users were keeping a close watch on the SOL price, for potential consequences due to Solana Mobile’s recent announcement. However, Solana Mobile has assured affected customers of refunds and expressed regret for any inconvenience caused.

While deliveries for existing orders are prioritized, the company pledges to keep users updated on future developments. Despite this setback, Solana Mobile remains committed to its community and hints at exciting developments in the pipeline.

Also Read: XRP Whales Shift 70 Mln Tokens As XRP Price Nears $0.63, Rally To Continue?

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