Hunter Biden's Memecoin Plunges 95% After Launch

Hunter Biden launched the LAPTOP memecoin on the Base blockchain, linked to the scandal surrounding his laptop. The token showed extreme volatility, crashing 95% from its peak value.

Trading started at an initial price of $37.26. In the first minutes, the price soared to $190, but then crashed to $2.50.

Before the launch, Hunter Biden warned investors: 'Don't expect me or anyone else to make this token more valuable for you.' Despite this, some traders bought the asset at inflated prices.

One participant withdrew $250,000 and bought 919 tokens at an average price of $218. The current value of his position is less than $2,000.

Another wallet bought tokens at $27 and exited with a profit of about $1.18 million. Two wallets associated with the project control 30% of the total supply each.

The scandal began in 2019 when a man brought a laptop for repair. The device contained correspondence about lobbying Biden's business and photos compromising the president's son.