The $LAPTOP memecoin plunged 99.5% within minutes of launching on Sept. 9, falling from a reported peak of $401 to $0.08215. Hunter Biden defended the project and said it still held significant value, citing a fully diluted valuation of about $252 million. The earlier account recorded a market-cap surge from $50 million to $316 billion, creating a discrepancy with the newer valuation figure.