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Hunter Biden’s LAPTOP meme coin plunged on its debut as recent altcoin leaders and other popular onchain tokens fell during a difficult crypto-market session, Decrypt reported. No price or percentage change was provided.
Hunter Biden denied profiting from the LAPTOP memecoin after its decline. Nansen reported a $117,800 unrealized loss in one wallet, while the team announced liquidity incentives and Bubblemaps flagged new top holders.
LAPTOP plunged 98% after its debut as the team blamed thin liquidity and automated traders for distorting the launch. Nansen data showed some early buyers facing six-figure losses after the memecoin’s sharp decline.
The LAPTOP memecoin is built around the Hunter Biden laptop controversy. Project disclosures say it has no utility, lock founder tokens for six months and reserve 2% of the supply for wallets that lost money on TRUMP.
LAPTOP surged to about $190 before dropping below $4 within minutes of launching on Base. CoinDesk said the token’s $1.6 billion debut was followed by a 98% loss, while market makers received tokens a week earlier.
