Following stories that Hunter Biden, son of former US President Joe Biden, is making ready to launch a memecoin known as $LAPTOP, widespread memecoins inside the Robinhood ecosystem skilled a noticeable decline.
In line with market information, the information that Hunter Biden will launch a memecoin known as $LAPTOP, impressed by the “laptop computer incident” of 2020, might have elevated promoting stress on present memecoins as a result of expectation that investor curiosity might shift to the brand new token.
PONS, one of many distinguished memecoins within the Robinhood ecosystem, misplaced roughly 9 % of its worth following the information, dropping its market capitalization to $726 million.
CASHCAT, in the meantime, skilled a decline of roughly 10 % throughout the identical interval, dropping to a market capitalization of $190 million. The AI token additionally misplaced over 10 % of its worth, with its market capitalization falling to $179 million.
MEME, which skilled essentially the most extreme promoting stress, noticed a drop of over 20%, bringing its market capitalization all the way down to $91 million. Microduck, alternatively, was one of many sharpest-declining tokens on the listing, with a loss exceeding 25%, dropping its market capitalization to roughly $17 million.
Market exercise means that $LAPTOP has already attracted the eye of memecoin buyers even earlier than its official launch. Hunter Biden’s token is scheduled to launch on September ninth on the Base community developed by Coinbase.
*This isn’t funding recommendation.
