Biden Meme Coin Crashes by 98% in Days

Hunter Biden's meme coin, $LAPTOP, has plummeted by 98% since its launch earlier this week. The token, which was launched on social media platform X, initially surged to a market cap of $9 billion but quickly dropped to below $600 million within an hour.

'Meme coins are typically more volatile than established cryptocurrencies,' said Bisto, a crypto trading platform, in a statement. 'Many projects lack the technical infrastructure or long-term roadmaps of more established crypto assets.'

According to the New York Post, four out of five people who purchased $LAPTOP saw their investment fail massively. However, one anonymous trader managed to turn a $250,000 bet into $1.8 million in just a few minutes.