Hunter Biden\u2019s LAPTOP meme coin ($LAPTOP) began trading on the Base network and almost immediately fell 99.2% from an intraday high of $199.51 within hours of launch.<\/p>\n
The laptop entered public view in October 2020, when the New York Post reported on emails from a device tied to Biden. The material was initially dismissed by some officials as \u201cpossible disinformation\u201d and later authenticated by several news organizations.<\/p>\n
\u201cThey turned laptop into a weapon. I turned it into a token,\u201d Biden posted on X.<\/p>\n
Crypto investigator Stephen Findeisen, better known as Coffeezilla, had urged his audience to stay away from the token before trading began, telling them, \u201cDo not buy it.\u201d<\/p>\n
As a surprise to no one, the token had also drawn imitators before it went live, with more than a dozen counterfeit LAPTOP coins surfacing across Solana, BNB Chain, and TON within about an hour of a Wall Street Journal report on the project, trading around $6.9 million combined, none carrying an official contract address because none had been published.<\/p>\n
Counterfeits are a known hazard on Base, which drew more than 500 scam tokens in its first weeks after launching in 2023, according to Solidus Labs.<\/p>\n
Anyway, on its first day, CoinGecko put LAPTOP\u2019s market cap near $560 million and its fully diluted valuation near $1.6 billion, on about $5.2 million in 24-hour volume.<\/p>\n
Biden had announced the coin<\/a> days earlier and set aside a fifth of the supply to airdrop wallets that lost money on Donald Trump\u2019s TRUMP coin.<\/p>\n LAPTOP opened with about 35% of its supply unlocked, the remainder set to release through cliffs and vesting over 36 months, and it traded in decentralized-exchange pools with no fixed offering price. CoinGecko logged the $199.51 peak before the slide to near $1.61.<\/p>\n Lookonchain flagged one wallet that pulled $250,000 off Binance ahead of the launch and spent $200,000 on LAPTOP near the top, a stake worth about $3,000 by the time the analytics firm posted, citing DeBank data.\u00a0CryptoPotato earlier reported a TRUMP trader who lost<\/a> $207,000 within an hour of buying in March.<\/p>\n Of the 1 billion-token supply, 20% was earmarked for TRUMP holders who lost money, subscribers to his Substack, and a mailing list run by video journalist Andrew Callaghan, while 30% went to the founding team under a six-month lock and roughly two-year vesting.<\/p>\n Public Citizen has estimated that Trump-linked crypto ventures left<\/a> investors at least $4.7 billion underwater, with the TRUMP meme coin alone accounting for $3.2 billion of that total.<\/p>\n The post Shocking: Hunter Biden\u2019s LAPTOP Meme Coin Crashes 99% Within Hours of Launch<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Hunter Biden\u2019s LAPTOP meme coin ($LAPTOP) began trading on the Base network and almost immediately fell 99.2% from an intraday high of $199.51 within hours of launch. The laptop entered public view in October 2020, when the New York Post reported on emails from a device tied to Biden. The material was initially dismissed by […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-225130","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/225130"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=225130"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/225130\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=225130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=225130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=225130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}