BONER Meme Coin Sparks Surge in Hims & Hers Health Tokenized Stock Price

A meme coin called BONER created one of Robinhood's biggest stories over the weekend by locking up half the tokenized float of Hims & Hers Health (NYSE:HIMS) on Robinhood Chain. This resulted in a price surge for the tokenized stock to $132, while the real share sat at $28.84.

The Defiant reported that only one authorized partner can create new tokenized HIMS shares, and only while the NYSE is open, leaving just 58,714 tokenized shares in existence against 233 million real shares outstanding.

Crypto analyst Ash explained that tokenized stock tokens are legally debt securities rather than actual shares. They provide economic exposure to HIMS but no voting rights and no ability to redeem for the real stock.

BONER pairs with tokenized HIMS instead of a stablecoin, so every BONER purchase pulls tokenized HIMS into a liquidity pool and locks it there. Ten days of buying locked more than half of the tokenized HIMS supply inside the BONER pool, leaving almost no tokens available for normal trading.