Hunter Biden's LAPTOP Token Leaves Most Traders Underwater
Despite promoting LAPTOP as an answer to memecoin grift, Hunter Biden's token left nearly 80% of traders underwater within hours.
Data from Bubblemaps showed that 12,151 of the token's 15,206 traders lost money, while only 3,026 were profitable and 29 were at break-even or held positions that could not be priced.
The losses were relatively small for most traders, with 11,311 wallets down less than $1,000. However, 726 traders lost between $1,000 and $10,000, another 112 lost between $10,000 and $100,000, and two were down between $100,000 and $1 million.
Biden had criticized President Donald Trump's TRUMP memecoin for leaving nearly 1 million wallets with what he described as about $3.8 billion in collective losses. However, LAPTOP had created another sharply divided group of memecoin winners and losers within minutes.