Biden Meme Coin Pours Cold Water on the Market, Investors May Fear a Repeat of TRUMP's Downfall

BlockBeats News, September 8 - According to HTX market data, following Hunter Biden's announcement of the upcoming Meme coin LAPTOP, Bitcoin fell approximately 0.7%, Ethereum fell approximately 0.85%, and SOL fell approximately 1.17%.

Several previously high-profile Meme coins also saw declines, with MEME down 19%, PONS down 9%, BONER down 17%, Basecat down 10%, ZCAT down 13%, and "Niu Lai" down 11%.

Notably, this market reaction may be driven by a "cautionary tale." Trump's TRUMP coin was launched on January 17, 2025. Although it rallied continuously on launch day, sparking community FOMO, the token's price subsequently collapsed, leaving behind more of a "mess" for the crypto space and drawing sharp criticism from mainstream media.

Data shows that Bitcoin was at a high of $103,000 on January 17, 2025, but fell approximately 25% over the following 52 days (with a full correction lasting about 80 days, down 29%). At that time, the Solana network was also in the midst of a Meme coin craze, with average daily trading volume of approximately $4.53 billion and a single-day peak of $5.86 billion (compared to roughly $1.915 billion over the past 24 hours). Some of the hottest Meme coin projects at the time peaked before (or within days of) the TRUMP coin launch, including the once-viral ai16z ($2.74 billion), FARTCOIN ($2.84 billion), GRIFFAIN ($640 million), and pippin (stage peak of $370 million), among others.