$LAPTOP Token Craters 99% in Value After High-Flying Debut
Hunter Biden's cryptocurrency project, $LAPTOP, has suffered a significant loss in value just minutes after its launch. The memecoin reached an intraday high of $190.81 per token before plummeting to $0.8528, a decline of over 99%.
Biden aimed the coin at those who had lost money on the $TRUMP coin, which has lost 75% of its value in the past year. He claimed that the project was intended to help 'each other and our country to get back up.'
In a statement, Biden attributed the price drop to technical issues and predatory traders seeking to exploit liquidity. He also stated that his team's allocation is locked, and no one on their side has sold any tokens.
Despite the dramatic loss in value, $LAPTOP still holds a valuation of around $300 million dollars, leaving room for the project to recover.