Hunter Biden Should 'Go Back to Painting,' Says Eric Trump as LAPTOP Coin Sinks 98% Soon After Launch
Hunter Biden addressed the controversy over the launch of his Laptop (LAPTOP) memecoin, which crashed 98% within an hour of going live on Wednesday.Hunter Biden Is ‘Ignoring the Noise’In an X post, Biden attributed the initial price spike and subsequent fall to technical issues and “predatory snipers” who tried to outpace liquidity providers. He also refuted claims of a “rug pull” or any involvement in the price manipulation.“The team’s allocation is locked. Nobody on our side sold, and nobody could have. I, personally, have not made a single dollar,” said the son of former President Joe Biden.Biden criticized legacy news and “social media trolls” for “spinning realities to fit their own narrative.”“I’m going to keep doing what I do best: ignoring the noise and reclaiming the narrative,” he added.As you may have seen, the LAPTOP memecoin saw a sharp swing in token price during its first hours of trading.The headlines are all the same.Token down 99%. Rug pull. Biden Crime Family. The list goes on.This is far from the truth.The reality is that available liquidity…Blockchain Data Contradicts Biden’s ClaimsLAPTOP opened on Base, a Layer-2 blockchain developed by Coinbase ), within the hour.On-chain data attributed the price collapse to insider distribution rather than ordinary selling. A wallet labeled as a Laptop Token address received 100 million tokens, roughly 10% of the total supply, seven days before launch, and then sold 42.5 million of them into the market.Blockchain analytics platform Bubblemaps labeled the launch as a “bloodbath,” with 80% of traders losing their money. was a bloodbath!80% of traders lost money:• 2 lost $100K-$1M• 100 lost $10K+• 700 lost $1K+• 11,000 smaller lossesThank you Hunter Biden! 🤡 Eric Trump Has a LaughWorld Liberty Financial (WLFI) co-founder Eric Trump, meanwhile, took a dig at the fiasco, saying, “Hunter should go back to painting…”It’s worth recalling that the official memecoins launched by President Donald Trump and First Lady Melania Trump . Official Trump is down 97% from its post-launch highs.Hunter should go back to painting… Read Also: Bitcoin-Gold Correlation Hits a 6-Year High: What's Going On? Hunter Biden launched the memecoin, invoking the controversy surrounding his personal laptop recovered in 2020. He framed the memecoin as a symbol of resilience, redemption, and recovery.Hunter Biden said that 20% of LAPTOP supply would be airdropped to wallets that lost money on the TRUMP memecoin.Price Action: At the time of writing, LAPTOP was exchanging hands at $0.8677, down 97.66% in the last 24 hours, according to data from CoinMarketCap. Read Also: Arthur Hayes: Bitcoin Is the 'Fastest Horse' During 'Central Bank Money Printing' Photo Courtesy: Andrew Leyden on Shutterstock.com