The BONER memecoin, available on the Robinhood Chain, absorbed 81 percent of the on-chain supply of tokenized HIMS stock from Hims & Hers Health during the weekend of August 30, 2026, while Wall Street exchanges were closed. This mechanism created a premium peak reaching up to 450 percent compared to the closing price of 28.84 dollars on the previous Friday on the NYSE, with the token briefly hitting 132.64 dollars. Analysts describe this phenomenon as a float squeeze, since demand for the memecoin depleted available inventory faster than market makers could replenish it, as they can only issue new tokens during NYSE trading hours. Ondo’s competing tokenized wrapper of the same HIMS stock, with a float 18 times wider, was not affected by this distortion, staying close to 29 dollars. This episode highlights the current limitations of real-world asset tokenization, when crypto liquidity available 24 hours a day encounters assets still subject to stock market hours.
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