What happened?
Safety Shot, a publicly traded company, has formed a major alliance with the Bonk (BONK) core team, becoming the first meme coin treasury to reach Wall Street. This comes after Safety Shot secured a $30 million investment, part of which was funded by Bonk’s founding members. The collaboration also includes giving the founding members seats in the Board of Directors that represent 50% of the voting power.
Who does this affect?
This new alliance affects both retail and institutional investors who will now have the opportunity to invest in BONK tokens via the U.S. public markets. It also impacts the founding members of Bonk who have now secured seats on the Board of Directors of Safety Shot. Additionally, this affects the performance and value of the BONK token.
Why does this matter?
This major development matters as it represents an increased institutional interest in meme coins, specifically BONK, and has strengthened its current price prediction. Following this alliance, BONK’s value experienced a gain, defying the overall market’s recent downtrend. Furthermore, this alliance could catalyze a significant price surge for BONK, with a potential 425% gain from current levels forecasted.