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LAPTOP Memecoin Crashes by Over 95% in First Hour

Guavy AI Editorial Team
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Hunter Biden has denied profiting from his LAPTOP memecoin after its launch-day price crash. The token, which was created to poke fun at the controversy surrounding a MacBook he reportedly left at a repair shop in 2019, lost over 95% of its value within the first hour of trading on Wednesday.

The token's price crashed from an initial listing price of $0.05 per token to just $0.8562 by Thursday morning, according to CoinGecko data. Biden blamed the price action on insufficient liquidity and 'snipers', which are trading bots that quickly swoop up tokens when trading opens.

The LAPTOP team has defended the launch in a community update, claiming it held no token presale and made no allocations to investors or influencers. However, the team did announce plans to deploy 4 million tokens as liquidity incentives for Aerodrome pools starting at midnight UTC on Thursday.

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