Hunter Biden's Meme Coin Crashes 98% in First Hour

Earlier this week, Hunter Biden launched his meme coin called 'Hunter Biden's Laptop', which quickly surged to a $9 billion market cap. However, within just one hour, its value dropped to below $600 million, according to Yahoo Finance.

Meme coins are notoriously volatile and can swing 50% to 90% in a single day based on social media trends or celebrity endorsements, said Bisto, a crypto trading platform.

According to the New York Post's exclusive report, four out of five people who purchased Hunter's meme coin saw their investment fail massively. Meanwhile, one anonymous trader managed to turn a $250,000 bet into $1.8 million in just a few minutes.