Nasdaq company plummet 51% after millions of gamble on Bonk-Memecoin

The American health drink maker Safety Shot changes course and is using $ 25 million on the Memecoin Bonk (Bonk). The Nasdaq company calls the mint “superior” to competitors, but the fair responds skeptically. Is this a smart strategy change or a high risk gamble?

Safety Shot is investing 25 million on Bonk

Safety Shot, noted on the Nasdaq, takes a daring step. The company takes 25 million dollars to buy Bonk (Bonk) and will work together with the makers of this Solana-Memecoin. The plan: Bonk must be the pivot of the new business reserve.

CEO Jarrett Boon is outspoken enthusiastically. He calls Bonk “super fast and cheap” and sees it as a better alternative than memecoins such as Shiba Inu (Shib) and Pepe (Pepe), which run on the slower and more expensive Ethereum network. Dogecoin (doge) also falls off for him, because that coin is inflational.

Bonk is currently fifth on the ranking of largest memecoins, with a market value of 1.9 billion dollars and 77 trillion tokens in circulation. De Munt experienced its peak in November 2024, but since then fell over 57 percent in value.

Safety Shot made the switch possible by paying off all its debts, keeping 15 million dollars in cash and making plans for the issue of 35 million dollars in preference shares, which can later be converted into ordinary shares.

Share crashes by 51 percent

Investors responded hard to the news: the Shot share plummeted on Monday in the after -trade trade by more than fifty percent to $ 0.59. Safety Shot, previously known as Jupiter Wellness, sells a drink under the brand Sure Shot that helps to break down alcohol faster.

The price fall comes at a time when the Memecoinmarkt is already having a hard time. Since January, the joint value has fallen by 25 percent, while the total cryptomarkt is more than 22 percent in the Plus.

Yet Safety Shot is not the only listed company that adds Memecoins to the business reserve. In May, for example, GD Culture Group announced plans to raise 300 million dollars for a crypto-treasury with, among others, the Trump-Memecoin.