Key Takeaways:
- Safety Shot shares plunged over 50% after announcing a $25M purchase of Bonk memecoin as its core treasury asset.
- The company cited Bonk’s high-speed, low-cost Solana tech as an advantage over Ethereum-based and inflationary memecoins.
- The move comes amid a 25% yearly drop in the memecoin market cap, despite overall crypto market growth.
Nasdaq-listed beverage company Safety Shot saw its shares plunge over 50% after announcing a plan to invest $25 million into Bonk (BONK), a Solana-based memecoin, as part of a new treasury strategy.
The firm formed a strategic alliance with Bonk’s founding contributors, aiming to integrate with its ecosystem.
Safety Shot cited Bonk’s high-speed, low-cost transactions as advantages over rivals Shiba Inu (SHIB), Pepe (PEPE), and Dogecoin (DOGE).
Bonk is the fifth-largest memecoin, valued at $1.9 billion with 77 trillion tokens in circulation, though prices have dropped 57% since peaking in November 2024.
Safety Shot said it prepared for the shift by clearing debt, maintaining $15 million in cash, and planning a $35 million preferred share issuance.
CEO Jarrett Boon described the move as “a bold first step” in a broader corporate evolution.
Investors reacted sharply, sending Safety Shot (SHOT) down to $0.59 in after-hours trading. Formerly Jupiter Wellness, the company produces the Sure Shot blood alcohol detox drink.
The move follows similar memecoin treasury strategies, even as the overall memecoin market has fallen 25% in 2025.
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