Hunter Biden's LAPTOP Memecoin Pops 13%, While Bitcoin and Dogecoin Trail—What's Going On?

Hunter Biden’s Laptop (LAPTOP) posted double-digit gains on Thursday, offering some relief to an otherwise struggling cryptocurrency.LAPTOP Leaves Big Boys BehindLAPTOP jumped nearly 13% over the last 24 hours, comprehensively beating cryptocurrency heavyweights including Bitcoin , Ethereum and Dogecoin .There was no news or obvious bullish catalyst behind the move at the time of writing.Cryptocurrency24-Hour Gains +/-Price (Recorded at 2:30 a.m. ET)Laptop+12.80%$0.07377Dogecoin +0.90%$0.09526Bitcoin -0.10%$84,085.18Ethereum -0.50%$2,673.22A Harrowing Start for LAPTOPLAPTOP remains under heavy selling pressure and is down more than 99% from its all-time highs.Launched on Coinbase Global Inc.‘s  Base blockchain, the token experienced a rapid price spike followed by a steep decline. On-chain data  rather than normal selling.Its market capitalization has collapsed from a peak of $50 billion to just $26 million as of this writing. Read Also: Biden’s ExperimentBiden launched the memecoin, invoking the controversy surrounding his personal laptop recovered in 2020. He framed the memecoin as a .He or any involvement in price manipulation, blaming legacy news and “social media trolls” for distorting the narrative.Interestingly, Biden said that 20% of LAPTOP supply would be airdropped to wallets, including those that lost money on the Official Trump memecoin. Read Also: Bitcoin At $80,000 Today Vs. Bitcoin At $80,000 in May: 'Very Different,' Says This Analyst