Biden's $LAPTOP Meme Coin Skyrockets and Crashes Within Minutes
Hunter Biden's cryptocurrency venture, $LAPTOP, took off on Wednesday, skyrocketing from around $3 to over $300 in a matter of seconds. However, this surge was short-lived, as the price quickly dropped back down to around $2.60 by midday.
The token, which was launched on Base blockchain and listed on decentralized exchange Aerodrome, generated nearly $6 million in trading volume and carried a market valuation above $750 million. Eric Trump mocked Biden over the coin's wild debut, saying 'Hunter should go back to painting.'
Biden had previously stated that he would give 20% of the $LAPTOP supply to people who lost money trading Trump's $TRUMP meme coin. The $LAPTOP moniker is a reference to the presidential scion's notorious laptop, which was at the center of controversy during his father Joe Biden's 2020 presidential campaign.