Safety Shot launches Bonk Holdings and gets a 228.9b Bonk Tokens. Shooting stock slides, Bonk’s price has increased by 8% over the past 24 hours. Bonk Charts shows a possible breakout towards $0.0003620.
Safety Shot has created a bold entry into the world of digital assets and has launched a new subsidiary centered around the fast-growing Solana-based Memecoin Bonk.
The move highlights the growing interest in blockchain assets by companies, and how traditional companies position themselves within the cryptocurrency economy.
Safety Shot launches Bonk Holdings LLC
On September 11th, Safeation Shot announced the creation of Bonk Holdings LLC, a dedicated subsidiary that manages the company’s digital asset strategy.
Safety Shot also revealed that it has accumulated important positions in Bonk, expanding the Ministry of Finance to 228.9 billion tokens.
This stash represents more than 2.5% of Memecoin’s distribution supply and is valued at approximately $55 million at a typical market price.
The company’s average purchase price for the token was $0.00002184, achieved through a new $5 million acquisition in a previous initiative and partnership with digital trading platform Falconx.
Rather than passively storing tokens, Safety Shot plans to deploy its holdings in the Solana Defi Ecosystem and use them to staking, provide liquidity and harvest agricultural crops.
The company claims that this approach generates undiluted returns while strengthening the balance sheet.
In particular, Safety Shot’s leadership has spoken out about the rationale behind this move.
Chief Executive Jarrett Boone highlights the company’s view of Bonk as a “first-class digital asset,” and sees undeveloped value when integrating with existing consumer brands.
In late August, the company raised $30 million to further strengthen its growth strategy, and recently Mitchell Rudy, one of Bonk’s former founders, was appointed to the board.
Safety Shotstock’s response is behind Bonk’s profits
Despite its ambitious plans, Safety Shot stocks struggle to persuade investors.
Following the announcement, Shot Stock fell to its lowest level in two months at $0.37, then rose slightly at $0.39, with pre-market trading only slightly increasing.
The decline suggests that equity investors are cautious, despite emphasising the size of their digital and cash assets compared to a market capitalization of around $85.4 million.
In contrast, Bonk itself enjoys a strong run. On past days, Memecoin won 8.3% and traded at $0.00002512 at press.
Bonk’s prices are still well below the all-time high of $0.00005825 in November 2024, but the token remains one of the most performant assets in the Solana Ecosystem.
Bonk Price Outlook shows bullish potential
From a technical standpoint, Bonk’s charts show potential for a bullish breakout.
Memecoin is trading within the rising channel, with $0.0002377 serving as a solid level of support.
$0.0002620 is a critical resistance, and breakouts above this level could pave the way for a ride to $0.0003620.
Volatility continues to be part of Bonk’s identity as a meme-esque token, but the increasing involvement of agencies like Safety Shot is beginning to change the conversation.
The willingness to bet a significant portion of Bonk on the Defi platform adds both liquidity and legitimacy to the project.
As the wider Solana market continues to expand, Bonk will be able to gain even more momentum in the coming months.
