$LAPTOP Meme Coin Skyrockets, Crashes in First Day

Hunter Biden's meme coin, $LAPTOP, saw a meteoric rise and fall in its first day of trading. The cryptocurrency surged from $37 to around $222 within its first hour after market debut.

However, the price plummeted hours later, with $LAPTOP trading at just $1.36 as of 3 p.m. EDT on Coinmarketcap.com. This marks a staggering drop of around 95 percent in value since its launch.

The coin's behavior is consistent with that of meme coins, which often experience rapid price increases due to social media hype but ultimately lose value over time.