Crypto prices slipped after Hunter Biden announced plans to launch the meme coin LAPTOP, according to market data cited by BlockBeats from HTX. Bitcoin fell about 0.7%, Ether lost roughly 0.85%, and SOL dropped around 1.17%. Several previously popular meme tokens saw steeper declines, including MEME, PONS, BONER, Basecat, ZCAT, and 牛来.
BlockBeats linked that reaction to what it described as an existing market precedent: the launch of Donald Trump’s TRUMP token on Jan. 17, 2025. The report said TRUMP surged on debut and fueled FOMO across the community, but later turned into what it called a mess for the crypto sector and drew criticism from mainstream media.
The article also reviewed data from that earlier period. Bitcoin was at $103,000 on Jan. 17, 2025, then fell about 25% over the next 52 days, with the full correction reaching 29% over roughly 80 days. Solana, then in the middle of a meme coin frenzy, posted average daily trading volume of about $4.53 billion and a single-day peak of $5.86 billion, versus about $1.915 billion in the past 24 hours. BlockBeats also listed several meme projects that peaked around that period, including ai16z, FARTCOIN, GRIFFAIN, and pippin.
Crypto prices moved lower after Hunter Biden announced plans to issue the meme coin LAPTOP, according to HTX market data cited by BlockBeats on Sept. 8.
Bitcoin fell about 0.7%, Ether dropped roughly 0.85%, and SOL lost around 1.17%. Several meme tokens that had previously attracted strong attention also declined, with MEME down 19%, PONS down 9%, BONER down 17%, Basecat down 10%, ZCAT down 13%, and Niulai down 11%.
BlockBeats points to the TRUMP token as an earlier reference point
BlockBeats said the market reaction may reflect concern shaped by an earlier example.
Donald Trump’s TRUMP token launched on Jan. 17, 2025. The report said the token kept rising on its first day and triggered FOMO in the community, but later lost momentum. BlockBeats wrote that what remained was largely a mess for the crypto industry and criticism from mainstream media.
Data from the period following the TRUMP launch
According to the figures cited in the report, Bitcoin was at a high of $103,000 on Jan. 17, 2025. It then fell about 25% over the following 52 days. The full correction lasted roughly 80 days, taking the decline to about 29%.
Solana was also in the middle of a meme coin boom at the time. Average daily trading volume stood at about $4.53 billion, while the single-day peak reached $5.86 billion. Over the past 24 hours, that figure was about $1.915 billion.
BlockBeats added that several of the hottest meme coin projects from that period peaked before the TRUMP token appeared, or around the same time. Those included ai16z at $2.74 billion, FARTCOIN at $2.84 billion, GRIFFAIN at $640 million, and pippin with a cycle peak of $370 million.
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