Hunter Biden's New LAPTOP Token Lost 98% of Its Value in Under an Hour After $1.6 Billion Debut
The coin briefly reached a $1.6 billion market cap before thin liquidity and heavy selling sent it down about 98%, Arkham reported.
- On Wednesday, Hunter Biden launched the $LAPTOP memecoin on the Base blockchain, which lost roughly 98% of its value within an hour, plummeting from $190.81 to $3.70.
- Hunter Biden announced the token Monday, referencing his laptop left at a Delaware repair shop in 2019. He wrote Tuesday: "They turned laptop into a weapon. I turned it into a token."
- Blockchain intelligence firm Arkham reported the token's fully diluted valuation briefly climbed to $144 billion despite a liquidity pool of just $48,000. Trading across 314 pairs totaled roughly $19 million in the first hour.
- Of the one billion tokens issued, founders hold 30%, while 20% will be distributed to wallets that lost money on President Donald Trump's $TRUMP memecoin. $LAPTOP's valuation briefly surpassed $TRUMP's $2.26 billion.
- Onchain data shows a multisig wallet received 100 million tokens before launch, while market maker GSR received 15.5 million tokens and an unidentified wallet received 14.5 million tokens hours before trading began.
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Memcoin $LAPTOP, launched by former US President Joe Biden’s son Hunter on September 9, has fallen by almost 100% since the start of trading, according to data from the CoinGecko service. According to trading data at 16:20 Bulgarian time, memcoin fell by 98%, falling to $3.67. At the beginning of trading, memcoin was $199.51, according to data from CoinGecko as of 15:00 Bulgarian time. About memecoin The name of the coin refers to Hunter Biden’s…
Hunter Biden's New Business Endeavor Crashes And Burns
A new cryptocurrency token associated with Hunter Biden has lost 98 percent of its value since debuting. The token LAPTOP, a reference to the former First Son’s numerous scandals involving his personal laptop, began trading on the Base network, an Ethereum layer-2 blockchain developed by Coinbase. The token, trading under the ticker $LAPTOP, reached an […]
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