GMGN data shows that the fully diluted valuation of LAPTOP, a meme coin issued by U.S. President Joe Biden’s son, has dropped below $400 million and now stands at $390 million. The token has fallen more than 52% over the past 24 hours alone. From its peak of $314 billion, LAPTOP is now down more than 99.8%, according to the figures cited by BlockBeats. BlockBeats also warned users that many meme coins lack practical use cases and can see sharp price swings, urging caution when making investment decisions. The move adds another example of how quickly valuations in the meme coin segment can contract once momentum reverses.
According to GMGN data cited by BlockBeats on Sept. 11, the fully diluted valuation, or FDV, of LAPTOP, a meme coin issued by U.S. President Joe Biden’s son, has fallen below $400 million and now stands at $390 million.
The data shows LAPTOP dropped more than 52% over the past 24 hours. From its peak of $314 billion, the token is now down more than 99.8%.
BlockBeats also warned that many meme coins do not have practical use cases and can be highly volatile, and said investors should be cautious.
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