Hunter Biden blames LAPTOP token crash on thin liquidity, sniping

Hunter Biden, the son of former U.S. President Joe Biden, released a video explanation after the price of the LAPTOP memecoin tied to his “laptop scandal” plunged 98% within minutes of launch. Biden said the failure of LAPTOP was largely due to a market maker providing only $5,000 in initial liquidity, which pushed the token price as high as $316 before it was bound to fall sharply. Biden added the project had been in preparation for six months, the team’s allocation was locked up and could not be sold, Biden personally did not earn even $1, and Biden would continue to fully support the project. According to CoinMarketCap, LAPTOP was recently trading at $0.4283, down 48.54% over the past 24 hours.