Safety Shot Fall 50% After $25M BONK Treasury Move
Nasdaq-listed Safety Shot shares drop 50% reach $0.56 afta di company announce say dem allocate $25 million of BONK as dia main treasury asset. Di memecoin price self drop 10% to $0.000024.
For August 11, Safety Shot collect initial $25 million block of BONK tokens from di project founding contributors. Shares drop again reach $0.59 for after-hours trading, show how investors con doubt dis move.
Di company talk say BONK get technical advantage for Solana blockchain—fast transactions, low fees plus built-in token burn mechanism—weh different from rival meme coins like Shiba Inu (SHIB), Pepe (PEPE) and Dogecoin (DOGE).
BONK market cap dey for $1.96 billion, wit 24-hour trading volume increase 18% to $536 million. Even though trading dey active, Safety Shot turning to volatile meme coin treasury don bring wahala for dia short-term outlook.
Bearish
Di announcement cause sharp sell-off for Safety Shot shares and BONK tokens, dey show say investors no too sure to use volatile memecoin as treasury asset. Short-term price pressure fit continue as traders dey rethink risk. For long term, BONK active trading and Solana technical strengths fit help recovery, but near-term uncertainty still high, make outlook dey bearish.