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- Safety Shot stock crashed over 51% after $25M Bonk memecoin treasury shift announcement.
- Memecoin market value down 25% in 2025 while broader crypto market rose 22%.
Safety Shot shares collapsed 51.04% on Monday after the Nasdaq-listed drinks maker revealed plans to allocate $25 million of its treasury into Bonk, a Solana-based memecoin. The announcement followed the company’s strategic alliance with Bonk’s founding contributors.
The deal aims to fully integrate Safety Shot with the memecoin’s ecosystem, with management claiming it would strengthen the company’s financial standing and diversify its asset holdings. The partnership also comes after Safety Shot settled all outstanding debt and confirmed cash reserves of more than $15 million.
CEO Jarrett Boon described the move as aligning with “one of the most exciting ecosystems in digital assets” and called it the first step in a broader evolution for the firm. Despite this, the market reacted sharply, with shares sinking to $0.59 in after-hours trading.
Bonk’s Market Position and Technology Advantage
Safety Shot cited Bonk’s speed and low cost of transactions as reasons for its choice, arguing these features provide an edge to the token over competitors such as Shiba Inu and Pepe. The company also compared Bonk with tokens built on Ethereum and Dogecoin, which they described as inflationary.
Bonk is the fifth-largest memecoin by market capitalization at $1.9 billion, with 77 trillion tokens in supply. The token’s price reached an all-time high in November 2024 but has since decreased 57% as speculation in memecoins dwindled in the past six months.
Memecoin market capitalization on the whole has fallen 25% since January, compared to the broader crypto market, which has risen 22% during the same period, according to CoinMarketCap.
Wider Trend of Corporate Crypto Treasuries
Safety Shot’s move mirrors an emerging trend among firms embracing cryptocurrencies other than Bitcoin into their treasuries in 2025. Company holdings have diversified into smaller blockchain networks, with XRP attracting greater interest from companies such as Trident Digital, Webus International, and VivoPower International.
Other firms have made similar large-scale allocations. Windtree Therapeutics struck deals of up to $200 million to create BNB reserves, while Sonnet BioTherapeutics committed $583 million to HYPE tokens as part of its balance sheet. GD Culture Group said it would raise up to $300 million for a treasury including TRUMP, a memecoin that takes the name of the US president.
Safety Shot’s financing proposal entails the issuance of $35 million of preferred stock convertible into common stock. This would be used to finance the Bonk acquisition while keeping liquidity.
Company’s shares had risen 36% in the previous month before Monday’s sharp loss, although the stock is down 22.5% year-to-date 2025. The move to base the treasury on Bonk indicates a marked pivot for the firm’s financial strategy, coming at a time when memecoin prices remain highly unpredictable.
