Safety Shot has made a bold entry into the digital asset world, launching a new subsidiary centred on the fast-rising Solana-based memecoin BONK.
The move underlines the company’s growing interest in blockchain assets and highlights how traditional firms are positioning themselves within the cryptocurrency economy.
On September 11, Safety Shot announced the creation of BONK Holdings LLC, a dedicated subsidiary that will manage the firm’s digital asset strategy.
Safety Shot also revealed that it had accumulated a significant position in BONK, expanding its treasury to 228.9 billion tokens.
This stash represents more than 2.5% of the memecoin’s circulating supply, valued at roughly $55 million at prevailing market prices.
The firm’s average purchase price for the tokens stands at $0.00002184, achieved through prior initiatives and a fresh $5 million acquisition in partnership with digital trading platform FalconX.
Rather than storing the tokens passively, Safety Shot plans to deploy its holdings in the Solana DeFi ecosystem, using them for staking, liquidity provision, and yield farming.
The company argues this approach will generate non-dilutive returns while strengthening its balance sheet.
Notably, Safety Shot’s leadership has been vocal about the rationale behind this move.
Chief Executive Officer Jarrett Boon emphasised that the company views BONK as a “top-tier digital asset” and sees untapped value in integrating it with its existing consumer brands.
In late August, the firm raised $30 million to further solidify its growth strategy and recently appointed Mitchell Rudy, one of BONK’s original founders, to its board of directors.
Despite the ambitious plans, Safety Shot’s shares have struggled to convince investors.
Following the announcement, SHOT stock dipped to $0.37, its lowest level in two months, before closing slightly higher at $0.39, and the pre-market trading has brought only a modest uptick.
The decline suggests that equity investors remain cautious, even as the company highlights the scale of its digital and cash assets compared to its overall market cap of about $85.4 million.
In contrast, BONK itself has enjoyed a strong run. Over the past day, the memecoin has gained 8.3%, trading at $0.00002512 at press time.
While BONK’s price is still far below its November 2024 all-time high of $0.00005825, the token remains one of the best-performing assets in the Solana ecosystem since its launch.
From a technical perspective, BONK’s chart signals the possibility of a bullish breakout.
The memecoin has been trading within an ascending channel, with $0.0002377 acting as a solid support level.
$0.0002620 is a key resistance, and a breakout above this level could pave the way for a run toward $0.0003620, a move that would represent a potential 150% upside from recent levels.
While volatility remains part of BONK’s identity as a meme-inspired token, the increasing involvement of institutions like Safety Shot is beginning to change the conversation.
Safety Shot’s willingness to stake a sizable portion of BONK in DeFi platforms adds both liquidity and legitimacy to the project.
If the broader Solana market continues to expand, BONK could see further momentum in the months ahead.
