Hunter Biden’s LAPTOP token plunges 99% after launching on Base

Hunter Biden’s LAPTOP meme coin plunged 99% after launching on Base Wednesday, falling sharply from its debut price of $200 to below $2, according to CoinMarketCap data. The token’s market capitalization was still above $770 million at the time of publication, while its fully diluted valuation stood at roughly $2.2 billion. The former President Joe Biden’s son launched the one-billion-token meme coin as a reference to the laptop he left at a Delaware repair shop in 2019, which later became central to a political controversy surrounding the 2020 election. The project also takes aim at US President Donald Trump’s TRUMP token by reserving part of its supply for investors who lost money on the meme coin. Founders, including Hunter Biden, received 30% of LAPTOP’s supply. Those tokens are locked up for six months and vested over more than two years. Another 20% is designated for airdrops, including wallets that suffered losses on TRUMP and subscribers to Biden’s Substack. Another 30% of the token supply is linked to a series of political and market predictions. The tokens can be burned when certain outcomes occur, including a Democratic victory in 2028, Bitcoin reaching a new all-time hi...