The meme coin inspired by Hunter Biden’s laptop had a rough first day of trading, plunging on its debut as the broader cryptocurrency market suffered a sharp downturn.
A Difficult Debut
The token, which references the laptop associated with Hunter Biden, fell immediately after launching. The drop came during a nasty day for crypto overall, with recent altcoin leaders and many onchain favorites also slipping.
Broad Market Weakness
The sell-off was not limited to the new meme coin. Established altcoins that had recently led the market, along with popular onchain tokens, posted losses as sentiment turned negative across the sector.
