Hunter Biden’s memecoin flops, falling 95% just hours after launch
Investor appetite for memecoins has clearly not recovered, even as bitcoin prices have crept higher.
Hunter Biden has denied profiting from his troubled LAPTOP memecoin, stating that neither he nor his team had sold any tokens following its launch-day price crash. The memecoin, named after a MacBook reportedly left at a repair shop, saw its value plummet more than 95% in the first hour of trading. Biden blamed the sharp decline on insufficient liquidity and "snipers," trading bots that quickly buy tokens upon market opening.
The Base memecoin project claimed it held no token presale and made no allocations to investors or influencers, adding that 4 million tokens would be released as liquidity incentives. However, several Twitter users accused the project of a "rug pull" after the memecoin lost more than 95% of its value. Biden's team published the contract address, token allocations, security audit and white paper before trading started, claiming there was no hidden supply or benefit to insiders.
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