Hunter Biden LAPTOP Meme Coin Crashes 90 Percent From Peak

A brand new meme coin named LAPTOP, launched by President Joe Biden's son Hunter Biden, suffered a massive crash of over 90 percent from its peak fully diluted valuation of more than 200 billion dollars. The dramatic drop happened within just a few hours of the token going live on the market.

Onchain data shows that the token supply was heavily concentrated among a small group of wallets. While a few early traders managed to secure quick profits during the initial hype, many retail participants were left holding heavy losses as the price sharply reversed.

This event highlights the extreme volatility and risks associated with celebrity themed meme coins. Traders should watch out for similar speculative tokens, as sharp spikes are frequently followed by sudden and steep crashes.