Hunter Biden’s $LAPTOP memecoin is down 99% from its all-time high.
Thanks to the supply of 1 billion tokens, its market cap hit $110 billion just minutes after launch. However, at time of writing, it has a fully diluted value of just $1.9 billion.
One minute periodicity volume is averaging between $20,000 and $30,000, and its price is now just under $2, down from its all-time high of $316.
Read more: Pump Fun and Kraken delete Hunter Biden $LAPTOP promotion
Biden’s laptop token sniped at launch
Biden’s token was announced earlier this week to little fanfare from the crypto community while Pump Fun and Kraken both promoted it before backpedaling on their support.
Several onlookers claim to have spotted snipers — bots that carry out super fast trades — exploiting the launch.
Crypto analyst Dethective claims one such sniper was able to make around $190,000.
Another analyst, Donaxbt, says the highest-earning sniper they saw made $335,000. Others have been reported as making well over $60,000.
Meanwhile, Lookonchain claims that market maker Wintermute has already sold $2 million worth of $LAPTOP it received from the token’s team.
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