Hunter Biden’s Laptop Meme Coin Instantly Cratered 95% After Hitting the Market

(Photo Credit: Wide Awake Podcast on YouTube)

Even by political meme coin standards, this one tanked fast.

Hunter Biden’s new laptop-theme meme coin hit the market on Wednesday morning… and then dropped 95% within a few hours of trading, following an initial spike.

So if you bought it for some reason, hopefully you got out really fast.

The $LAPTOP coin started trading at a value of $37.26 and immediately darted up to $222.75 within five minutes, according to Coinmarketcap.com, a website dedicated to crypto prices.

But the initial six-fold gain in value didn’t last long, because by about 11:00 a.m. ET the coin had crashed all the way to a measly $1.86.

(Screenshot via CoinMarketCap.com)

It already appears safe to include Biden’s coin in the Hall of Fame of Bad Political Meme Coin Investments, right alongside President Donald Trump’s meme coin, which is down 97% from its all-time high of $75.35; First Lady Melania Trump’s meme coin, which is down 99% from its high as well, and former New York City Mayor Eric Adams’ coin, which is down 87% from its high, to point to a few infamous examples.

Biden’s coin — which obviously poked fun at what Trump and others have called Biden’s “laptop from hell,” which was reported by the New York Post in October 2020 and immediately censored by Twitter — received a fair amount of coverage heading into its Wednesday morning flop.

The Wall Street Journal reported “20% of the supply will be sent, in two batches, to crypto wallets belonging to people who lost money on $TRUMP, the president’s meme coin, subscribers to Hunter Biden’s Substack and a mailing list curated by his friend Andrew Callaghan, a video journalist.”

Biden and other owners held 30% of coins issued, the report added.

Still, CNN senior business reporter Matt Egan tried to warn viewers about throwing money into Biden’s coin. Egan said a Wall Street executive told him meme coins can be “amusing,” but are ultimately a “really stupid” investment.

Biden’s coin looks to be no different.

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