LAPTOP Token Tanks 99% in Value After Meme Coin Launch

Hunter Biden's LAPTOP token has plummeted by an astonishing 99% since its debut on Base, falling sharply from $200 to below $2. The sudden drop comes just days after the meme coin launched, with CoinMarketCap data showing a drastic decline in value.

The former US President Joe Biden's son created the token as a tongue-in-cheek reference to the laptop he left at a Delaware repair shop in 2019, which became embroiled in controversy during the 2020 election. The project also takes aim at Donald Trump's TRUMP token by reserving part of its supply for investors who lost money on the meme coin.

Despite the drastic price drop, LAPTOP's market capitalization remains above $770 million, with a fully diluted valuation standing at roughly $2.2 billion. This is due in part to the large number of tokens created - one billion in total.