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Crypto

Biden Meme Coin LAPTOP Crashes Over 99%

Guavy AI Editorial Team
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APT OP
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Hunter Biden's meme coin, LAPTOP, has been making headlines for its astronomical price spike and subsequent crash. On September 9, just after 8 a.m. Eastern time, the token began trading and surged to over $300 apiece.

This brief peak gave holders of LAPTOP a staggering paper value of about $1.3 million each, based on the initial community airdrop allocation of 10% of the total supply. However, this gain was short-lived, as the token plummeted more than 99% within minutes.

The price drop left most buyers underwater, with over 80% of wallets that bought LAPTOP showing losses according to on-chain analytics firm Bubblemaps. In fact, about 60% of the top holder wallets were newly funded and received funds just before or on the day of the token's launch.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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