BlockBeats report, September 10: Hunter Biden, son of former U.S. President Biden, defended the Meme coin LAPTOP amid its steep decline, stating that, as you may have seen, the token price experienced significant volatility during the first few hours after listing. Headlines were all the same: "Token dropped 99%, Biden crime family," and so on—endless variations.
This is far from the truth. The reality is that the liquidity available at launch simply couldn't support such high levels of attention. Added to that were technical issues and predatory "snipers" trying to enter before liquidity providers, causing the price to spike and then subsequently drop to a healthier level. The team's shares are locked, no one has sold, and I personally have not made a single cent.
I’ve long been accustomed to traditional and social media trolls distorting reality to fit their own narratives. The fully diluted valuation of this token exceeds $1 billion. We are actively seeking the best solutions to optimize liquidity and continue engaging with the community. This journey is far from over—the official team has always built this community with a long-term perspective, and that’s exactly what we’re doing now. I’ll keep doing what I do best: ignoring the noise and reclaiming the narrative.
According to GMGN data, within nearly 12 hours of its launch, the meme coin LAPTOP, issued by Biden’s son, saw its FDV surge above $300 billion, then drop to as low as $1.2 billion, and is currently trading at $1.8 billion—a decline of approximately 99.4% from its peak.