$LAPTOP Crashes: Hunter Biden's Memecoin Plunges by Over 86%

Memecoin $LAPTOP, launched by Hunter Biden in an attempt to reclaim the 'laptop narrative', fell 86.5% in its first 30 minutes of trading on Wednesday.

The token, issued on Ethereum layer-2 network Base, traded at $26.88 at 12:30 pm UTC, after opening at $199.50, according to CoinGecko data.

Biden responded to public backlash with a post on X, saying 'The symbol they used to try to end me is now a symbol of resilience, redemption and recovery.'

The token's disclosures describe it as a digital collectible with no utility or ownership rights, and the founders are allocated 30% of the supply.

2% of the token supply is reserved for wallets that lost money on $TRUMP, while another 8% is for eligible subscribers to Biden's 'Where's Hunter' Substack newsletter.