Meme Coin Themed Around Hunter Biden Laptop Loses 99 Percent of Value on Launch Day

WHY IT MATTERS

A meme coin is a cryptocurrency created mostly as a joke or to ride a wave of internet attention — it usually has no real purpose or technology behind it. Think of it like a novelty item that people buy hoping it will become popular enough to resell at a higher price. When a meme coin crashes 99%, it means that someone who put in $100 would be left with roughly $1. This kind of event is a reminder for newcomers that many tokens in the crypto space carry extreme risk, especially those built purely around hype rather than any real product or service. The phrase 'rug pull' is often used in crypto to describe situations where creators or early insiders drain value from a token, leaving later buyers with nearly worthless holdings.