Green’s Dictionary of Slang

a broken down, punch-drunk boxer.

1952		J. Jones From Here to Eternity (1998) 41: If you’re a punchie you picked the right place.
1960		E. Hoagland Circle Home 47: Kelly’d seen the stupe. He was a punch-drunk, the only punch-drunk in the gym. [...] ‘How’s it going, doc?’ the punchie asked.