LAPTOP Memecoin Crashes by Nearly 98% in First Hour

Hunter Biden's cryptocurrency memecoin, LAPTOP, crashed by nearly 98% within its first hour of trading on the Base layer-2 network. The token launched at $190.81 and plummeted to as low as $3.70 in under an hour, with a peak fully diluted valuation of $144 billion.

The project's liquidity pool held only $48,000 at the time of its peak, raising concerns about the token's sustainability. Market makers GSR and Wintermute received tokens days before public trading opened.

Hunter Biden defended the launch on X, stating that LAPTOP is a 'symbol of resilience, redemption and recovery.'