Hunter Biden's LAPTOP Meme Coin Craters 98% on Debut Day
Hunter Biden's LAPTOP meme coin crashed roughly 98% on its first trading day, sparking accusations of a scam. The team behind the token now rejects these claims and blames automated bots and thin liquidity instead.
The project's foundation published a response on Medium after X suspended their official account. Hunter Biden relayed the statement from his personal profile, stating that the team is working to restore the account and fix the issue.
According to the foundation, demand overwhelmed the market maker's starting liquidity when the token opened at $0.05 per token on Wednesday. Predatory sniper bots then amplified the swing, causing prices to spike and crater within minutes.
The token peaked near $199 two minutes into its Base debut on Wednesday, with one wallet turning a $1.18 million profit while another sank $200,000. The foundation now wants deeper markets and is sending 4 million tokens into Aerodrome pools from midnight UTC on Sept. 10.