LAPTOP Memecoin Plunges 97% Within Minutes of Launch

Hunter Biden’s LAPTOP memecoin fell more than 97% in its first 30 minutes of trading Wednesday after launching on the Ethereum layer 2 network Base. The token opened at $199.50 before crashing to $4.88, recording more than $2.5 million in trading volume as Biden officially entered the politically themed cryptocurrency market.

Biden Frames Token as Reclaiming a Painful Narrative

Responding to backlash, Biden said the symbol once used against him had become one of resilience and recovery, while acknowledging skepticism around memecoins and calling President Trump’s own token a “grift.” He cautioned buyers against expecting him to actively support the token’s value. The project references a laptop Biden reportedly left at a Delaware repair shop in 2019, material that was later used against him and his father during the 2020 election.

Token Structure Draws Scrutiny Over Hypocrisy Claims

According to official disclosures, LAPTOP carries no utility, ownership rights or profit-sharing, with a fixed supply of 1 billion tokens. Founders, including Biden, hold 30% of the supply under a lockup and vesting schedule, while another 30% is tied to outcomes of political and cultural predictions. Of the tokens allocated to airdrops, 2% is reserved for wallets that previously lost money on Trump’s token. The launch drew criticism from crypto commentators, with some noting the irony given Biden’s earlier public criticism of the Trump family’s crypto ventures for using political influence and centralized control.