Biden Meme Coin Soars Then Sinks: Hunter Biden's 'Laptop' Token Loses 98% Value
Hunter Biden's meme coin, 'Hunter Biden's Laptop', saw its market cap surge to $9 billion in a matter of hours before plummeting to below $600 million within an hour of launch. The token was launched on the social media platform X with President Joe Biden's son stating that it's not about making the token more valuable for investors but rather 'saying something'. The coin's volatility led to massive losses for many, including 80% of those who purchased it.
According to an exclusive report from the New York Post, four out of five people who bought Hunter's meme coin saw their investment fail. Meanwhile, one anonymous trader turned a $250,000 bet into $1.8 million in just minutes.
Hunter Biden compared his token's launch to that of Donald Trump's $TRUMP meme coin, which started with a market valuation of $15 billion but is now worth only $400 million. While some investors lost money on the $TRUMP token, Hunter Biden stated that 20% of 'Hunter Biden's Laptop' coins will be airdropped to the community.