Safety Shot shares dropped 50% following the announcement of a strategic alliance with Bonk and plans to purchase the meme coin for $25 million.
Plans to Purchase Bonk
Drink maker Safety Shot announced plans to acquire $25 million worth of Bonk meme coin. The deal was revealed early in the week and includes a strategic alliance with Bonk’s founders aimed at deeper integration into the meme coin ecosystem.
Investor Reaction
Despite positive management sentiment, investors reacted negatively, causing Safety Shot shares to fall to $0.56. The company, previously known as Jupiter Wellness, is best known for its blood alcohol detox drink.
Meme Coin Market Status
As of now, Bonk ranks as the fifth-largest meme coin by market cap at $1.9 billion. However, its price has dropped nearly 58% since peaking in November 2024, while the meme coin market has faced a 25% decline in 2025, even as the overall crypto market grew by 22%.
While expanding and partnering with Bonk, the 50% drop in Safety Shot shares underscores the volatility of the meme coin market and negative investor sentiment.
