Safety Shot Plunges 50% After $25M BONK Treasury Move
Nasdaq-listed Safety Shot shares plunged 50% to $0.56 after the company announced a $25 million allocation of BONK as its core treasury asset. The memecoin’s price also dipped 10% to $0.000024.
On August 11, Safety Shot secured an initial $25 million block of BONK tokens from the project’s founding contributors. Shares slid further to $0.59 in after-hours trading, underlining investor skepticism towards the move.
The firm highlighted BONK’s technical edge on the Solana blockchain—fast transactions, low fees and a built-in token burn mechanism—contrasting it with rival meme coins like Shiba Inu (SHIB), Pepe (PEPE) and Dogecoin (DOGE).
BONK’s market cap stands at $1.96 billion, with 24-hour trading volume up 18% to $536 million. Despite active trading, Safety Shot’s pivot into a volatile meme coin treasury has injected uncertainty into its near-term outlook.
Bearish
The announcement triggered a sharp sell-off in both Safety Shot shares and BONK tokens, reflecting investor skepticism about using a volatile memecoin as a treasury asset. Short-term price pressure is likely to persist as traders reassess risk. Long term, BONK’s active trading and Solana’s technical strengths could support recovery, but near-term uncertainty remains high, making the outlook bearish.