Hunter Biden’s anti-Trump memecoin drops 99.8% after record high

Two public mentions and a bill of 3.56 million dollars. Eric Trump and Beeple, without buying anything or endorsing anything, have just validated the first two political bets integrated into Hunter Biden’s LAPTOP memecoin. Result, 10 million tokens, or 1% of the total supply, went up in smoke. The token, which peaked at $199.51 on September 9, is now trading around $0.38, a fall of 99.8%.

How $3.56 million from LAPTOP went up in smoke

LAPTOP does not work like a regular memecoin. 30% of its supply of 1 billion tokens is attached to 30 public predictions about real political events. Each has two possible outcomes:

1. If the event occurs, the corresponding tokens are burned;
2. Otherwise, they go to charity.

It is this mechanism which has just been activated twice. Digital artist Mike Winkelmann, aka Beeple, publicly mentioned the token, settling the first bet and burning 5 million tokens. Eric Trump did the same for the second, burning the remaining 5 million. Hunter Biden confirmed both events, and the project account announced the withdrawal of 1% of the total supply from circulation, or 10 million tokens, approximately $3.56 million at the current price. Neither Beeple nor Eric Trump purchased LAPTOP, supported it, or commented on its economic operation. They just named it, and the supply moved on its own.

A drop of 99.8% which puts the amount burned into perspective

$3.56 million sounds good on paper. Related to what LAPTOP has already lostthe sum pales in comparison. The token is currently trading around $0.38, for a capitalization of around $140 million and a fully diluted valuation close to $389 million. Its record, $199.51, was reached on September 9, just two hours after launch.

On launch day, LAPTOP had already collapsed by 98% in 90 minutes, falling from $199 to $1.36 before stabilizing near $2.54. It then lost about another 85%. A daily volume of 22 million dollars for a capitalization of 140 million tells the rest of the story. In a statement released after the crash, the project team pointed to sniper bots and low liquidity rather than insider selling. Stating:

You should not expect us, or anyone else, for this token to increase in value for you.

A fancy way of saying, deal with it.

Eric Trump, despite himself symbol of a bitcoin narrative that he also defends

This is the irony of the matter. Eric Trump has been increasing his public outings on bitcoin for several days. In a recent interview, he explains that the more the AI ​​revolution advances, the more mainstream crypto will become, citing JPMorgan, which now agrees to collateralize bitcoin for mortgages, as proof that something is changing in the world. He even defends bitcoin as an alternative to real estate assets, considered illiquid and exposed to local political vagaries, unlike bitcoin.

An assumed crypto supporter, who unwittingly triggers a book burning on a token thought of as a snub to his own family. There are worse scenarios. This one at least has the merit of being funny.

To remember

• 10 million LAPTOP tokens, or $3.56 million, have already been burned after two unsolicited public mentions.
• 28 of the token’s 30 political bets remain active, with several deadlines set for the November 2026 midterms.
• LAPTOP has lost 99.8% of its value since its September 9 record, compared to $0.38 today.
• The fate of the token now depends on the American political calendar, independently of the will of its team or that of the personalities cited.

LAPTOP proves that a memecoin can now react to a Twitter conversation rather than a market. Eric Trump and Beeple sold nothing, bought nothing, just talked, and $3.56 million disappeared. At this rate, the next victim of burn will undoubtedly still be a politician without a crypto wallet.