Meme coin news: BONK’s $115M deal, LEASH supply twist, FARTCOIN plunges – Crypto News – Crypto News
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Meme coin news: BONK’s $115M deal, LEASH supply twist, FARTCOIN plunges Meme coin news: BONK’s $115M deal, LEASH supply twist, FARTCOIN plunges

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Meme coin news: BONK’s $115M deal, LEASH supply twist, FARTCOIN plunges – Crypto News

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  • A publicly listed firm plans to purchase BONK worth $115 million by the end of 2025.
  • Shiba Inu developer has clarified LEASH’s dramatic supply change.
  • Fartcoin leads the downside with a 12% 24-hour price dip.

Cryptocurrencies display recovery signals after July’s CPI inflation of 2.7% boosts sentiments in risky assets.

Ethereum has crossed $4,400, renewing altseason conversations.

Meanwhile, this article highlights ongoing developments in meme cryptocurrencies, focusing on Bonk, Shiba Inu’s ecosystem, and FARTCOIN.

Bonk’s $115M investment

On Monday, Healthy beverage firm Safety Shot Inc. received BONK tokens worth around $25 million as part of its crypto treasury initiative.

The Nasdaq-listed company plans to accumulate 5% of Bonk’s token supply, worth $115 million at the current market price, by year-end.

Safety Shot will hold approximately $25 million worth of BONK assets and has become the first Nasdaq firm to establish a treasury dedicated to the meme token.

The wellness company’s move follows similar models by traditional entities establishing crypto treasuries and prioritizing lesser-known altcoins.

Recently, Heritage Distilling adopted the Story Protocol ($IP) as a reserve token.

Moreover, SharpLink is in an Ethereum accumulation spree.

BONK trades at $0.00002484 after dropping over 6% of its value in the previous 24 hours.

Safety Shot’s significant bet suggests confidence in BONK’s future performance.

SHIB dev clears the air on LEASH supply surge

The latest LEASH supply adjustments have raised centralization concerns within the Shiba Inu ecosystem.

Notably, LEASHE supply saw a dramatic increase on August 11, with 10,765 new coins created.

The move grabbed attention as community members trusted that the project had a fixed supply.

Furthermore, the project had claimed to have disabled rebasing to cancel automatic token supply adjustments via code.

Shiba Inu’s lead developer, Kaal Dhairya, clarified the sudden and controversial 10% surge in LEASH supply.

The dev confirmed that the team discovered a rebase pathway still existing in LEASH smart contracts.

It was linked to pre-authorized contracts that enabled adjustments without owner mediation.

According to Dhairya, this incident breaches trust as the community believed in an unchangeable token supply.

He concluded:

Dealing with a chaotic system with multiple owners and inherited, deceptive structures has been exhausting for me to keep aligned and safe for the community. I’m committed to transparency and putting these decisions in the hands of the DAO.

LEASH has declined by nearly 30% in the past 24 hours to $118, with a 75% trading volume uptick signaling intensified activity possibly from sellers.

FARTCOIN extends downside

Fartcoin struggled with bearish tendencies after losing the $1 mark during the weekend.

It trades at $0.8760 after losing nearly 12% over the past 24 hours.

Pump.fun’s dwindling momentum contributes to FARTCOIN’s bearish sentiments.

The meme Launchpad unveiled the Glass Foundation last week to stabilize Solana-based tokens.

However, Pump.fun’s daily revenue continued to decline, suggesting a waning interest in Solana meme tokens.

Rivals like LetsBonk.fun are stealing the show, outshining PUMP’s platform in token launches.

Bearish technical indicators suggest further declines for FARTCOIN before possible comebacks.

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