Hunter Biden’s LAPTOP falls 98% after launch
- Hunter Biden’s LAPTOP (CRYPTO:LAPTOP) has fallen 98% from $199 to $1.36 within 90 minutes of launch.
- The token has retained a $1.24 billion market capitalisation despite $13.45 million in trading volume.
- LAPTOP has launched with a thin order book, allowing relatively small sales to drive sharp price movements.
Hunter Biden’s LAPTOP (CRYPTO:LAPTOP) has fallen 98% from its $199 peak to $1.36 within 90 minutes of its launch.
The token has traded at about $2.54 after the initial collapse, giving it a $1.24 billion market capitalisation and a fully diluted valuation of about $3.56 billion.
LAPTOP has recorded $13.45 million in trading volume since launch, while its thin order book has left the token vulnerable to sharp price swings.
The token has been inspired by the Mac laptop Hunter Biden left at a Delaware repair shop in 2019, which became part of the political controversy surrounding the 2020 US election.
LAPTOP has also drawn comparisons with TRUMP (CRYPTO:TRUMP), with its price falling within minutes rather than over the longer period seen after TRUMP’s earlier rise.
Before the launch, Biden said people had “PTSD from Trump, Melania, Kanye, Lil Pump, and Andrew Tate’s memecoins” and described those tokens as “MAGA” affiliated.
LAPTOP’s early trading has shown how limited liquidity can amplify price movements, with airdrop claimers and other small sales contributing to pressure on the token.
