LAPTOP Memecoin Crashes on Launch Day, Hunter Biden Denies Profiting
Hunter Biden's new memecoin project, LAPTOP, suffered a massive price crash on its launch day, losing over 95% of its value in just one hour. The token initially traded at $0.05 per unit but plummeted to $0.8562 by the time of writing.
Biden denied profiting from the project's failure, stating that neither he nor his team had sold any tokens and that their allocation was locked for six months. He blamed the price action on insufficient liquidity and 'snipers,' or trading bots that quickly buy up tokens when trading opens.
The LAPTOP team defended its launch in a community update, claiming it held no token presale and made no allocations to investors or influencers. The project's disclosures show that founders are allocated 300 million tokens, with 30% of the total supply locked for six months before vesting monthly over the following 24 months.